HSG Launches New Patient Acquisition and Retention Strategy Consulting Service for Hospitals and Health care Systems
LOUISVILLE, Ky., Oct. 24, 2019 /PRNewswire/ — HSG (formerly Healthcare Strategy Group), a national healthcare consulting firm, now offers hospitals and healthcare systems customized patient acquisition and retention strategy insights by using unique all-payer claims data.
As healthcare leadership struggles to measure and manage patient acquisition and retention, they turn to strategies that often sound promising but largely fail due to using state market data, out-of-date third-party data, or gaps in internal EMR data. None of these paths answer the question “Where do patients go across the care continuum and why?” HSG Physician Network Integrity Analytics® was developed to help healthcare leaders get the customized answers they need for their market. The service is fully customizable to answer executive-level questions about patient and provider behavior in their market.
HSG leverages a unique all-payer claims dataset that tracks each patient across the care continuum and identifies the utilization of services and providers administering care. By taking a patient-centric approach, HSG ensures any healthcare organization will gain information that helps providers understand their patients in ways that give them insights to help change patient behavior.
“We created HSG Physician Network Integrity Analytics to address the client challenges that we continually heard but were unable to answer effectively,” said DJ Sullivan, Director at HSG. “In healthcare, nothing is one size fits all. By taking an approach with multiple analytic frameworks from a unique data set that has recent and robust detail, we can comprehensively evaluate markets and build customized strategies for patient retention and acquisition.”
Depending upon an organization’s goals, HSG leverages one or more of the four analytic approaches included in its service. The first, Patient Share of Care™, tracks a group of patients across the continuum of care over an extended timeframe. It answers questions regarding patient loyalty and retention like “Where are our largest gaps in patient retention?” “What services are patients seeking when they leave our system?” and “How loyal are our established patients on our primary care provider panels?”
The second approach, Patient Flow, identifies patient relationships between providers and/or healthcare facilities. This information answers questions such as “Which primary care providers are feeding our aligned or employed specialists?” and “Where are our biggest opportunities to reduce patient leakage?”
The third approach, Provider Service Location Analysis, assesses the service location activity of single providers, or a group of providers. This data can answer specific questions to help leaders understand the practice patterns of non-employed providers, for example, “How much of an Independent Cardiology Group’s interventional cardiac catheterization volume is done at our facility versus others?”
The fourth approach, Market Insight, studies procedure activity across an entire market or specific geographic area with market insight. With this tool, HSG can provide health systems with inpatient, outpatient, and ambulatory market share calculations that they have wanted but have never been able to calculate. These market share calculations are available at the health system, service line, specialty, or procedure level for an entire market. Systems can now answer questions like “What percentage of primary care visits in our market are performed by our employed providers?”
“This work has been game-changing for several of our clients and we are very proud of the impact and value this work brings to healthcare organizations,” said Eric Andreoli, Director at HSG. “In rolling out this new service, we helped one organization see that their success in penetrating their primary care market was not as they perceived. Guided by our competitive data and expert strategic counsel, the system was able to take action to recover market share and pursue new areas for expansion.”
To learn more about HSG Physician Network Integrity Analytics or other healthcare consulting services HSG offers, visit the website at HSGadvisors.com.
About HSG
HSG builds high-performing physician networks so health systems can address complex changes with confidence. From boosting market power and financial strength to preparing for value-based care, HSG can help define strategy, implement that strategy, and manage physician networks short- or long-term. HSG, a Louisville-based, national healthcare consultancy firm, can be reached via its website or LinkedIn or by emailing info@hsgadvisors.com or calling (502) 814-1180.
Media Interviews by request: Karolyn Raphael, 312-494-0422, karolyn@wingermarketing.com
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