Maintaining successful relationships with patients can be done by managing successful workflows in your CRM platform. Mapping out workflows and communication needs will help you and your staff provide the best patient care outside of the care they receive from your medical providers. Here’s how to get started.
Phase One – Set Actionable Goals
Define specific goals for each department from your marketing team, to your patient schedulers to your practice administrators. Everyone knows that the end game is to give every patient the best experience, but having specific goals based on their roles in the practice help each individual understand what they are responsible for and how they add value to the patient’s journey.
Phase Two – Evaluate Manual Work
For each department in the practice, identify any work that is repetitive, time-consuming, or overlaps with another team. These are the manual processes that should be automated with workflows in your CRM. Anything that is done the same way every time or requires a team member to do or check on something can all be set up to execute based on logic triggers.
Phase Three – Consult Your Staff
No one knows what the pain points and inefficiencies are better than the people doing that job every day. When you’re onboarding your teams to the CRM, make sure you include them for input. While a practice manager or account manager at the CRM company may be able to provide some helpful best practices to get you started, your individual staff members are going to be the ones actually using the software. Thus, it is important to get their feedback on the intimate details of what their roadblocks are from being as effective as possible.
Phase Four – Implement, Test, Adjust
Once your workflows are set up, it’s time to evaluate. Take note of what your current KPI stats are for each team. After you’ve been running for a while, evaluate if those KPIs have improved and if you are hitting your goals for each team. If you’re not, review ways that the workflows can be adjusted to help the team reach their goal numbers for the week, month, quarter, and year.
Workflows should be fluid and should be reviewed frequently to maintain alignment between the team goals, practice growth, and standards for patient care. The most successful medical practices review their workflows anytime there is growth in the practice (i.e, a new procedure, provider, or location is added), staff turn over (i.e., workflows should be part of all new employee onboardings), changes in the industry (i.e., the rise of telehealth during the COVID-19 pandemic is a perfect example of practices all over the world re-evaluating workflows around virtual appointments.)
A good CRM focuses on one thing – your patient. This means that the CRM you chose for your practice needs to offer a selection of workflow automation tools, contact management solutions, activity management tools, and analytics for marketing and ROI. These tools will help your staff and your brand form a strong bond and loyalty with your patients.
In today’s market, there are many different CRM companies that offer these tools to medical practices. Thus, it can be difficult to decide which one to choose for your practice. At the end of the day, what matters most is to pick the CRM that fits your internal workflows and can help your staff work smarter, faster, and stronger. Decrease opportunity cost by automating marketing efforts to new and existing patients, reduce staff workload and provide transparent tracking and analytics to help make better business decisions.
What Are Workflows in a CRM?
A workflow is a series of actions leading up to an end goal in a business process. In a medical practice CRM, goals can be to book a procedure, respond to and correct and bad review, or launch a marketing campaign. Workflows are meant to assist the respective employees in completing that goal in the most efficient and consistent manner whether it’s a patient coordinator, a practice manager or a marketing manager.
In a medical practice, an example of a workflow can be that a new potential patient has filled out the contact form on your website. Having read through a few pages on your website, and providing key information via the contact form like name, phone number, email, and a procedure of interest, this person would be considered a valid lead and enter into a lead management workflow. From the website, this lead information would be fed into the CRM and put in a queue for a patient scheduler to reach out.
Once a human connection is made, the patient scheduler can evaluate their readiness to book a consultation or procedure. Based on that evaluation the lead is placed further down the sales funnel. Depending on their placement in the patient journey the patient scheduler can set up automated reminders for the staff to reach out at a later date, set up automated marketing about their procedure, or if an appointment is booked, drop them into a queue to automatically be sent important information about their appointment.
This is where the patient coordinators and marketing team can really take advantage of the automation that CRM platforms can provide today. It used to be that a workflow was designed in a chart and manually executed by the staff. This leaves the practice wide open to inconsistencies in communication to patients. With automated marketing tools the practice marketing team and patient coordinators deliver consistent messaging and education to every single patient.
When deciding which CRM platform to use for your practice, it’s important to choose one that has the most efficient and all-encompassing tools to achieve these goals. RSI, for example, has the intelligence to identify where someone is in the sales funnel – a lead, a new patient after their first consult, an existing patient wanting another treatment, etc. – and can drop them helpful information about what they are interested in via communication that is easiest for them to digest. Whether that’s receiving information via phone call, email, or text message. Each patient can be catered to in a completely customizable form that feels personal but is completely automated for the practice staff.
Using a cloud-based CRM means that your practice is using a network of computers to store activity data about your practice. This allows your staff to access any information related to your practice or patients from anywhere with an internet connection and a login to the customer portal. A cloud management system can be especially useful for multiple location practices or practices that have remote employees. Users are able to access the exact same information and work together without physically being in the same office. Managers can update information about providers and procedures in one place and know that everyone will see them and be unified in their communication strategies to patients.
With today’s technology, software companies are able to provide advanced solutions for communicating to and managing the patient journey. By syndicating communication policies across all practice locations and staff members, practices can see positive results in their business analysis. And we mean – Literally. See. Results. In the ROI reporting screens, of course. The more time and money a practice invests in CRM software, the more they can see their opportunity costs decreasing. A CRM supports the execution of repetitive administrative work, which frees up the staff to spend more time on interpersonal relationships and patient care. Once a practice defines their communication strategy and what they want their KPI goals to be, they start leveraging the features, functions, and reporting capabilities of a cloud-based CRM software to implement value-added solutions for their patients, staff, and ultimately, their wallets.
A Customer Relationship Management (CRM) system is a comprehensive platform designed to gather, link, and analyze all customer data collected across various touchpoints. This includes contact information, interactions with company staff, payment history, financial data, and much more. By consolidating this data and making it easily accessible through a single system, CRM solutions provide businesses with a complete customer profile, enabling them to understand customer interactions and build stronger relationships.
RSI has been a leader in integrating advanced technology solutions into healthcare practice management for over a decade. Our mission is to empower medical practices by providing innovative tools that streamline operations, enhance patient engagement, and optimize financial performance. By understanding the unique challenges of the healthcare industry, RSI develops CRM solutions that not only address current needs but also anticipate future trends.
Who Should Use a CRM?
CRM tools have traditionally been associated with sales teams, but their application has extended far beyond, becoming essential in marketing, ecommerce, and customer service functions. In fact, for modern healthcare practices, CRM systems are not just beneficial but absolutely essential. RSI’s CRM solutions are specifically designed for healthcare providers, addressing the unique challenges faced by medical practices. These systems help practices manage patient relationships more effectively, streamline administrative tasks, and improve overall operational efficiency. For many healthcare practices, incorporating a CRM system is the key that unlocks unprecedented growth, scalability and profitability.
What is the Goal of a CRM?
The primary goal of a CRM system is to support strong, productive, and loyal customer relationships through informed and superior customer experiences. For healthcare practices, this means improving patient acquisition and retention by providing experiences that keep patients coming back. A CRM system achieves this by organizing and analyzing patient data to provide actionable insights that enhance every aspect of patient care and practice management. By leveraging CRM tools, healthcare providers can ensure consistent communication, personalized care, and efficient administrative processes. A CRM can help healthcare practices achieve a range of goals, including:
Analyze patient data for improved care & other valuable insights
Improve decision-making at the executive level
Identify high-return opportunities for improvement and investment
CRM Tools, Features & Benefits
1. Enhanced Patient Engagement and Communication
Marketing Automation
Marketing automation tools within a CRM system ensure continuous communication and engagement with patients from initial contact through ongoing care management. Automated email and SMS campaigns can be personalized to provide relevant information and reminders, keeping patients informed and engaged throughout their healthcare journey. This continuous engagement fosters long-term relationships and improves patient retention rates.
Automating Patient Communication
A CRM tool enables patient coordinators to unify their communication strategies, ensuring no patient is left out of important updates. Coordinators can use call scripts displaying critical information based on appointment types or procedures of interest. Email and SMS messaging templates streamline responses to frequently asked questions, reducing manual workload and ensuring consistent and accurate interactions with patients.
Reputation Management
Active management of your practice’s online reputation is crucial for attracting and retaining patients. CRM tools monitor and respond to patient reviews and feedback, maintaining a positive online presence. This proactive strategy mitigates the impact of negative reviews and encourages satisfied patients to share their positive experiences, turning them into advocates for your practice.
Appointment Confirmations
Automated appointment confirmations and reminders help reduce no-shows and cancellations, securing revenue and optimizing scheduling. These systems can send reminders via SMS, email, or voice calls, ensuring patients receive them through their preferred communication method, significantly enhancing the effectiveness of reminders and improving operational predictability.
2. Streamlined Operations and Efficiency
Contact Center Efficiency
The front desk team serves as the frontline of patient communication, both inside and outside the office. A CRM system automates manual tasks such as logging activities, looking up contact details, following up with leads, sending appointment reminders, and managing patient recalls. It also grants team members full access to a patient’s purchase and appointment history, as well as their entire communication history with the practice. This comprehensive view facilitates productive communication, ensuring that patient coordinators can provide personalized and efficient service, ultimately saving time and improving the patient experience. Many of these features also free up valuable time for staff to focus on direct patient care and high-priority interactions.
Payments
Integrating payment processing into the CRM/contact center software enables immediate billing and payment collection during patient calls. This enhances cash flow by allowing on-the-spot payment for services and efficient collection of outstanding fees, reducing follow-up time and improving patient satisfaction by simplifying the payment process.
Online Booking
CRM software facilitates direct booking capabilities, allowing staff to schedule, modify, and confirm appointments within the same interface used for patient interactions. This streamlines the booking process, reduces errors, and ensures a seamless experience for both staff and patients, with real-time updates accessible to everyone in the practice. It can also give patients the ability to book appointments themselves, enhancing accessibility and convenience for patients while reducing administrative workload. Online booking also appeals to modern healthcare consumers who prefer digital solutions for managing their health, increasing your practice’s attractiveness to a broader demographic.
3. Improved Data Management and Decision Making
Reporting
Comprehensive reporting features in a CRM system allow healthcare practices to track key performance indicators (KPIs) and generate detailed reports on various aspects of their operations. These reports provide insights into patient acquisition, appointment scheduling, attendance rates, and financial performance. By analyzing these metrics, practice managers can make data-driven decisions to optimize operations, improve patient care, and enhance profitability. Customizable dashboards offer real-time access to critical data, enabling quick and informed decision-making that aligns with the practice’s strategic goals.
Lead Management
Effective lead management is crucial for converting inquiries into scheduled appointments and, ultimately, loyal patients. A CRM system streamlines lead management by automatically capturing and organizing leads from various sources, such as websites, social media, and phone calls. Advanced lead routing ensures that inquiries are directed to the appropriate staff members based on predefined criteria, such as inquiry type, patient urgency, or staff availability. This efficient handling of leads accelerates response times, increases conversion rates, and enhances the overall patient experience.
Marketing Campaign Analytics
Campaign analytics tools provide deep insights into the performance of marketing efforts. They track key metrics such as engagement rates, conversion rates, and ROI across different marketing channels. This data allows practices to optimize marketing strategies, allocate budgets effectively, and tailor outreach efforts to maximize returns and patient engagement.
Patient Analytics
User analytics offer valuable data on staff performance and patient interactions within the CRM system. This helps practices monitor the effectiveness of their team in managing patient communications and administrative tasks. Insights from user analytics can lead to targeted training, improved workflows, and better resource allocation. Understanding patient behavior and preferences also helps personalize care and enhance satisfaction.
Why Your Healthcare Practice Need a CRM
Incorporating a CRM system into your healthcare practice not only enhances efficiency and patient care but also provides valuable insights that drive better decision-making. From marketing automation and reporting to lead management and financing, a CRM system is an essential tool for modern medical practices aiming to thrive in a competitive healthcare environment. By leveraging RSI’s specialized CRM solutions, healthcare providers can navigate the complexities of practice management with greater ease and achieve remarkable improvements in patient satisfaction and financial performance.
Contact us today to schedule a demo and discover what our CRM can do for your practice.
This article provides a definitive playbook for profitable patient acquisition and practice scale through the use of simple to use technology and business (practice) analytics.
The issues and resolutions discussed in this article are determined from 2023 practice data from over 200 health care practices. There are over $1.8 billion in patient charges during 2023 and over 600,000 patients. Thousands of unique marketing campaigns from websites, email, text, social media, and paid placement have been tracked from inception of a lead to patient lifetime value.
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In the rapidly evolving healthcare sector, the integration of Customer Relationship Management (CRM) systems, such as those provided by RSI, plays a pivotal role in streamlining operations across various departments. A well-implemented CRM strategy can drive efficiency, harness the power of data, and ultimately lead to increased profitability. Let’s explore the substantial benefits that CRM systems can deliver for three key departments: marketing, operations, and the executive team.
Executive Team: Gaining a Comprehensive Organizational Perspective
Complete Data Access
For executive leadership, a CRM system offers an unprecedented level of insight by combining the following data into one system:
While a CRM system provides many ways to analyze and learn from these data points, for the executive team, a significant benefit is the ability to gain a holistic view of the business. Too often, executive leadership is limited to viewing various KPIs within departmental silos. The consolidation of these critical data points enables the executive team to view the business in a linear fashion. Without a CRM system, getting a comprehensive overview of these business data points would require manual reporting and collaboration across all departments, both of which take valuable time away from your patients and other necessary business operations.
Data-Driven Business Decisions
The consolidation of critical data in one system allows executive teams to make faster, more proactive decisions. This agility is crucial in today’s dynamic healthcare environment, where the ability to quickly adapt to changing market conditions can be a significant competitive advantage. Furthermore, executive leadership teams can make these decisions with more confidence than ever before, thanks to the complete and integrated data set made available to them through their CRM system.
KPIs
Patient Count
Charges & Payments
Collections
Avg Charges per Appointment
# of Completed Surveys
NPS Score
Operations: Improved Performance Through Data Efficiency
Unified Data & Communications
The benefits that your operations department will achieve with a CRM system begin with their improved access to data. For starters, CRM systems will connect a range of data from phone calls and contact centers to practice management. This allows a practice to analyze every touch point, whether it’s the personal interactions between your team members and your patients, or the efficacy of your lead management systems. These are crucial elements for a practice to be able to assess and improve on as they strive for a more profitable and efficient business.
Additionally, CRM systems consolidate all frontline communications into a single platform. Practices using disparate systems are shackled with operational frictions, slowing down team members, and, in some cases, negatively affecting the patient experience. When you’re managing some combination of calls, emails, web leads, and booking processes across multiple platforms, inconsistencies and inefficiencies across communication methods are pretty much guaranteed. A centralized approach will ensure that your team can communicate with patients as efficiently as possible.
Enhanced Efficiency & Team Member Performance
When the data above is made easily available to your team, practices can take intentional steps towards improving efficiency and team member performance. Thanks to a unified communications platform, operations teams will enjoy an instant improvement in the management of patient communications. The centralized approach ensures that patient interactions are handled efficiently, reducing wait times and enhancing patient satisfaction.
A CRM system will also provide valuable insights into team performance, particularly when it comes to areas that require additional training or improvement. By analyzing data from phone interactions to practice management activities, operations teams can discern whether challenges arise from marketing strategies or clinical booking processes. This understanding is essential in optimizing the contact center and lead management teams’ efficiency.
Overall, a CRM system will save your team members time and make communication with your patients drastically more efficient. With proper implementation, practices can almost immediately improve their team member performance and their patients’ experience.
CRM System
Marketing: Enhanced Decision-Making and Profitability
Data Transparency Between Marketing & Operations
The first key advantage that a CRM provides for marketing departments is the transparent access to data from across the patient acquisition process. CRM systems will collect various data points, such as:
By compiling and organizing this operational data, marketing teams can get an accurate overview of the strengths and weaknesses of the patient acquisition process. Too often, this data is siloed outside of a marketing department, restricting the ability to pinpoint areas of improvement for patient acquisition. CRMs facilitate a seamless flow of information between marketing and operations departments, enabling marketing teams to identify areas that could improve conversions. These data points could indicate steps in patient acquisition where current processes are ineffective, requiring new marketing strategies. They may also indicate successful marketing efforts, identifying opportunities for practices to double down on what works.
In other cases, a CRM may reveal that your marketing initiatives are perfectly effective, but their success is restricted by operational processes. Perhaps your marketing team is generating plenty of qualified leads, but your operations team is not able to handle the appointment inquiries or schedule them efficiently. This connectivity between marketing & operations is a key advantage that a CRM system brings to a practice. Without it, it can be incredibly difficult, if not impossible, to analyze and improve KPIs across departments.
Analyzing Marketing Spend to Maximize ROI
With access to transparent data, marketing teams can take the next step of executing on a more intentional marketing spend. CRM systems will uncover the marketing investments that will produce the highest possible return. This can help a practice focus their marketing dollars on the highest potential leads and the most effective channels or tactics.
Furthermore, data is collected by CRM systems in real-time, enabling marketing teams to quickly adjust and reallocate their budget as needed. This data can also be used to continually expand and improve your marketing efforts. CRM systems will help practices analyze how different marketing channels (email, social media, paid ads, etc.) complement each other, and how budgets should be allocated to each of them. Marketers can use successful tactics from one campaign and replicate them across other channels or future campaigns to push their success rate higher.
Ultimately, with a CRM system that delivers transparent data at every step of the patient acquisition process, a practice can confidently invest its marketing dollars in ways that achieve the best possible ROI.
Ready to Implement a CRM?
Adopting a CRM system is not just a convenient modernization for medical practices, but a necessary one that transforms the business’ data transparency, efficiency, and profitability.
Whether it’s through refining marketing strategies, streamlining operational processes, or enabling executive leaders to make swift, informed decisions, CRM technology stands as a cornerstone of successful healthcare management in the digital age.
If you’re struggling to scale your practice efficiently, our platform can help. RSI maximizes your profits from marketing and patient acquisition, while reducing your time requirements and operating costs associated with running the business. Learn more about our CRM solutions on our blog.
ALPHARETTA, Ga., Aug. 29, 2024 /PRNewswire/ — Medicus IT (“Medicus” or “the Company”), the leading healthcare-focused IT managed services provider, today announced a strategic partnership with Red Spot Interactive (RSI), the nation’s premier, healthcare CRM and patient engagement platform managing over three million patient appointments and two billion in patient charges annually. This transformative partnership aligns the shared mission of both organizations to enhance patient outcomes and practice scale through collaborative innovation, while expanding service reach.
“Partnering with RSI, which offers the ultimate end to end patient acquisition software, enables healthcare practices to leverage customized, data-driven strategies designed to enhance reporting, analytics, operational efficiency, and patient lifetime value. Their seamless integration with practice management, telecommunication, and marketing systems optimizes patient acquisition from inception of inquiry through to provider performance and patient satisfaction. This complements our mission of driving healthcare forward for all of our mCare™ managed services clients and new business,” said Daniel Livschutz, Senior Vice President of Business Development, Medicus IT.
Ryan Lehrl, Vice President at RSI, added, “RSI was founded on the principle that healthcare organizations should be able to grow their organizations profitably by understanding their return on investment across the entire patient acquisition spectrum. As HCIT continues to expand to meet the needs of our clients many will need to go through a transformation of their technology stack and we believe Medicus is a great partner to support that mission. When working together with Medicus, our mutual clients understand they have a partner for both the current state and future state of Healthcare IT. As the evolution of healthcare continues it is imperative that you’re not left behind and Medicus has proven its ability to shepherd healthcare through that journey.”
This partnership underscores Medicus’ unwavering commitment to fostering alliances that drive innovation and growth in the healthcare industry. As we continue to expand our capabilities, we remain dedicated to enabling healthcare providers to focus on their patients by ensuring their IT infrastructure and applications are secure, efficient, automated and scalable.
About Medicus IT
Medicus IT is committed to helping healthcare organizations leverage technology to optimize patient care and deliver better patient outcomes. Moving beyond traditional IT, Medicus helps its healthcare clients run their IT infrastructure, grow their operations, and transform their organizations. Headquartered in Alpharetta, Georgia, with service centers in New Jersey, Ohio, Florida, Arizona, and North Carolina, Medicus is one of the nation’s top Healthcare Solutions Providers (HSP), serving more than 6,500 providers, with over 50,000 users in over 2,000 locations. Together, we drive healthcare forward™.
About Red Spot Interactive
Red Spot Interactive (RSI) is the nation’s leading CRM for medical practices, providing the only single-source platform for managing and automating all critical practice activities associated with patient communication, acquisition, and retention. RSI fully integrates with its clients’ practice management software, telephony systems, referring providers, and marketing sources to streamline practice workflows while improving patient outcomes. The RSI platform is built on the direct analysis of 20 million unique patient appointments, $10 billion in patient payments, and hundreds of thousands of practice marketing campaigns. RSI is dedicated to empowering medical practices with innovative solutions for patient communication and acquisition.
In the rapidly evolving landscape of healthcare, the integration of Customer Relationship Management (CRM) and Electronic Medical Records (EMR) systems have become essential technologies for optimizing operational efficiency, patient care, and financial performance.
Today, the convergence of these technologies enables healthcare practices to unlock the full potential of their data, providing a 360-degree view of the patient journey from initial contact to post-treatment care and beyond.
With the proper CRM & EMR integration, practices can leverage transparent data analysis to maximize their future financial performance.
In this eBook, we’ll explore how RSI offers the ultimate CRM & EMR integration to achieve unparalleled data integration and transparency. Then, we’ll take a look at six powerful data points unlocked by RSI’s platform that enable executive leadership teams to make informed decisions that will transform practice growth and revenue.
What Does RSI Offer?
RSI provides the only healthcare focused analytics platform that provides complete transparency into the entire patient acquisition process from patient inquiry to revenue and lifetime value.
Its proprietary data warehouse integrates fragmented data sources, including communication channels (such as phone and text), marketing channels (like Google Ads, Meta Ads, email, and text), and practice management systems (encompassing patient, provider, and billing information).
This integration creates a single source of truth, revealing the interdependencies among key performance indicators (KPIs) essential for patient acquisition and retention. These KPIs include the source of inquiry, contact rate, schedule rate, attendance rate, purchase rate, and the lifetime value segmented by marketing channel, contact center team, location, provider, and insurance company.
By leveraging RSI’s comprehensive analytics, practices can make informed strategic decisions regarding:
Marketing spend and optimization
Contact center workflow and team member optimization
Schedule capacity optimization
Location and provider optimization
Referring provider optimization
Revenue cycle management
And more
To illustrate the value of the data points that RSI collects and consolidates, we’ll take a closer look at six examples that highlight the potential for executive level decision making that could transform the patient acquisition process and its ROI.
1. Understand & Improve Year-over-Year Trends
One of the fundamental aspects of strategic planning and performance improvement in healthcare practices is the analysis of year-over-year trends, particularly in patient count and average charges/collections per patient. These metrics serve as critical indicators of a practice’s health and growth trajectory.
In the image below, we can see an example of year-over-year trends and the average charge per patient. At a glance, you can see some seasonal trends in the average bill per patient, as well as a few standout months in new patient acquisition. However, without further data transparency, it can be difficult to draw conclusions from this information and make impactful changes in practice operations.
With RSI’s platform, we can break down this chart even further to uncover more specific data points that provide the practice with actionable insights. For example, we could filter the same metrics (patient count and average bill per patient) and compare them across:
Marketing channel where patient was acquired
Provider
Location
Procedure
Referral
Insurance company attribution
By analyzing patient acquisition and patient acquisition ROI across these metrics, practices can identify the lowest-performing variables. For example, perhaps a practice finds that a certain social media platform creates relatively few new patients but requires a high ad spend. This is lowering the patient acquisition ROI, and indicates that the practice should focus on a different avenue that is driving more meaningful increases in KPIs. This analysis is made both simple and immediate because all of the data is made available through a single reporting source using RSI’s platform.
As a result, practices can avoid costly risks in making assumptions about patient acquisition. Instead, they can invest smarter and faster in the expansion and optimization of the business based on the actual historical performance of their patient acquisition efforts. A couple of data-backed decisions that could be made include:
Investing more in the highest performing marketing channels
Building marketing strategies around procedures with highest new patient count and charges
Work closer with providers who are referring the most patients to the practice
The distinction between new and existing patient performance is critical for healthcare practices to understand and optimize their patient base and growth strategies. Importantly, practices should consider the differences in behaviors and preferences of their new patients compared to existing patients. Consider the chart below:
We can gather some meaningful insights at a glance, such as the increased volume of new patients immediately prior to summer (May) and during the winter months (October through January). These same months also had above-average conversions. This performance could be attributed to seasonal trends, or a number of other reasons. The issue is that practices without a comprehensive CRM & EMR integration will not recognize these trends until it is far too late. This could mean missing out on capitalizing on positive performance trends, and failing to recognize and correct negative performance trends.
RSI’s platform collects and reports data in real-time, ensuring that executive leadership teams can gather timely insights from various data points and act on them efficiently.
Furthermore, remember that RSI’s platform can filter these and other data points by valuable variables such as:
Marketing channel where patient was acquired
Provider
Location
Procedure
Referral
Insurance company attribution
And more
With the ability to pinpoint trends and the variables driving them, practices can move quickly and intentionally to optimize business performance in any scenario. They can identify the variables that are most impactful in acquiring new patients, as well as which variables are most influential in getting a patient to convert to booking a surgery.
Importantly, the strategies that a practice chooses to employ at this point will depend on key comparisons between new and existing patients. For example, if RSI data indicates that existing patients have a higher lifetime value or higher conversion rates compared to new patients, a practice may decide to allocate more resources towards retention strategies, such as patient satisfaction surveys and personalized care plans. Conversely, if attracting new patients is identified as a growth opportunity, practices might invest more heavily in marketing campaigns while focusing on demographic groups with the highest potential for conversion.
3. Forecast Future Revenue
Accurate revenue forecasting is indispensable for strategic planning in healthcare practices. It allows for informed decision-making regarding budgeting, resource allocation, and investment in growth opportunities. RSI’s historical conversion rate data provides a robust foundation for forecasts by taking into account numerous factors that influence future revenue. Again, consider the chart below and the insights we might gather from it.
We’re able to see an uptick in the average of forecasted payments, but without further data transparency, it’s difficult to understand where these forecasts are coming from. Furthermore, practices without comprehensive CRM & EMR integrations will never be able to hone in on such valuable data points to begin with. With RSI, practices can leverage historical conversion rates by the following variables:
Provider
Location
Marketing channel
Procedure
And more
This data is collected and analyzed in real-time, helping practices not just understand past performance at a high level, but also to project future revenue with a high degree of accuracy. When practices are able to model future revenue based on their inquiry volumes and conversion rates, they can plan to expand or optimize their business operations accordingly. This ensures they have the staffing, schedule availability, and workflows in place to maximize revenues when the opportunity comes. Conversely, if there’s a negative trend, they can investigate and address underlying causes promptly.
4. Recognize Collection Rate Issues
The Revenue Cycle Management (RCM) process is a critical component of a healthcare practice’s financial health, and collection rates serve as a sign of its efficiency. An effective RCM strategy ensures that practices are reimbursed for their services in a timely and complete manner.
RSI’s analytics can detect early signs of collection rate issues, enabling practices to take proactive measures to address these challenges.
Like previous examples, RSI enables practices to examine RCM performance through filters such as marketing channels and insurance companies associated with the patient. This will highlight patterns and precursors that could lead to collection rate issues.
By examining the entire patient journey, practices can identify where drop-offs in payment occur—whether it’s a front-end issue like patient eligibility or a back-end problem like claim denials. After this analysis, practices can tailor their RCM strategies to address any weaknesses. For example, if particular marketing channels attract patients who ultimately have a higher incidence of payment issues, the practice may adjust its marketing spend or patient screening processes.
5. Differentiate New & Existing Patients
The ability to differentiate between new and existing patient leads in real-time is a game-changer for healthcare practices. It’s a critical component for streamlining operations, enhancing the patient experience, and optimizing marketing campaigns.
RSI’s analytics platform provides this capability, enabling practices to match patient inquiries with their existing records instantly. Consider the chart below, which illustrates a gap of potentially hundreds of leads between new leads and total leads (new patients + existing patients).
Practices unable to distinguish between new and existing patient leads in real-time face several challenges. Marketing efforts may become generalized, failing to resonate with either audience segment. This lack of personalization can result in a lower conversion rate for new patients and decreased retention of existing ones. Operational efficiency may also suffer, as staff may spend unnecessary time on administrative tasks such as verifying patient information that could be streamlined with RSI’s real-time data.
This data helps practices optimize their workflow throughout the patient journey. New patient leads typically require more administrative attention — from collecting personal health information to educating them about the practice’s procedures. For existing patients, the focus might be on efficiently scheduling follow-up appointments or managing ongoing treatments.
Marketing is another area where the differentiation between new and existing patients can provide substantial benefits. Knowing whether leads are new or existing allows practices to allocate their resources more effectively. New patient leads might be targeted with introductory offers and educational content, while existing patients could be informed about new services or loyalty programs.
6. Understand Marketing Performance Throughout the Patient Journey
Understanding the performance of each marketing channel across the patient journey is absolutely essential, especially for practices with active campaigns spread across several marketing channels. Without a single source of truth that consolidates marketing performance across these channels, it’s difficult to compare the performance of each channel objectively and make informed decisions. Data may be siloed or incomplete, leading to a fragmented view of the patient journey and an inability to perform high-level analysis. This lack of clarity can result in suboptimal allocation of marketing resources and campaigns that fall short of their potential.
RSI’s analytics platform provides a detailed analysis of all marketing channels at each stage of the patient journey. This helps practices identify which campaigns and which marketing channels are most effective at each point in the patient journey. Furthermore, practices can get a clear return on ad spend that provides more insight into the efficacy of marketing strategies.
With this data, practices can refine their marketing efforts to focus on high-performing channels and improve or eliminate underperforming ones. For example, if social media ads are excellent at generating awareness but poor at converting leads into appointments, a practice might adjust its messaging or reallocate funds to more effective channels for conversion, like search engine optimization (SEO), which can generate large amounts of organic leads.
RSI ensures that practices can spend less to make more through the seamless analysis of marketing channel performance.
Industry-Leading CRM & EMR Integration with RSI
The integration of CRM and EMR systems is an absolute necessity for practices who want to optimize operational efficiency, patient care, and financial performance.
RSI’s platform offers a comprehensive solution to executive leadership reporting, providing a single pane of glass for practices to analyze and forecast business performance with utmost data transparency.
Practices without a proper CRM and EMR solution fail to capture the whole picture of the patient journey and the variables that influence it. RSI is the all-in-one solution that practices need to make informed, data-driven decisions that not only enhance their operational and financial health but also elevate the standard of care provided to their patients.
If you’re interested in learning how RSI can help your practice, contact us today to schedule a demo.
In the rapidly evolving landscape of healthcare, the consolidation of patient data emerges as an essential strategy for medical practices aiming to enhance the quality of care, operational efficiency, and patient satisfaction. By integrating disparate data sources into a centralized platform, practices can streamline the management of patient information and improve their decision-making processes.
We will explore 7 of the most significant improvements that data consolidation can provide, specifically focusing on patient acquisition and patient engagement data points. Then, we’ll outline how RSI offers the most comprehensive data consolidation system on the market today for medical practices.
1. Enhanced Reporting and Analytics
Data consolidation lays the groundwork for advanced analytics and comprehensive reporting. With all patient data housed in one location, healthcare practices can more easily aggregate and analyze information to identify trends, track treatment outcomes, and understand patient demographics. These insights can inform strategic decisions, enhance the quality of care, and guide the allocation of resources, thereby contributing to the overall efficiency and effectiveness of healthcare services.
2. Enhanced Data Accuracy
One of the critical advantages of data consolidation is the significant enhancement of data accuracy. In a fragmented data environment, inconsistencies and errors are more likely to occur, which can lead to misinformed decisions or slow decision making that can affect a healthcare practice. . By consolidating data into a single system, healthcare practices can ensure that they are working with the most current and accurate information. Having data readily available to your departments and leadership team allows you to make decisions that impact each individual department, and the organization as a whole, without compromise.
3. Increased Operational Efficiency
Operational efficiency in medical practices is significantly improved through data consolidation. By centralizing patient information, administrative tasks such as scheduling, billing, and patient tracking become more streamlined, allowing for quicker and more efficient service delivery. This consolidation reduces the time staff spend navigating through multiple systems to access patient information, thereby allowing them to devote more time to patient care and other critical tasks. The result is a more agile and responsive healthcare practice that can meet the needs of patients more effectively.
4. Scalability
As healthcare practices grow, so do their data management needs. Data consolidation systems are inherently scalable, meaning they can accommodate increasing volumes of data without the need for significant additional investments in IT infrastructure. By eliminating the need for multiple data management systems and reducing redundancy, medical practices can achieve considerable savings. The flexibility provided by data consolidation ensures that practices can continue to improve patient care and redirect their savings to further scale the business.
5. Improved Patient Satisfaction
Finally, the cumulative effect of personalized care, streamlined services, and efficient communication, all facilitated by data consolidation, leads to improved patient satisfaction. Patients benefit from shorter wait times, more attentive service, and a greater degree of engagement in their care processes. This enhanced patient experience can foster loyalty and encourage positive word-of-mouth, crucial elements for the growth and reputation of medical practices.
6. Improved Patient Care
Data consolidation in healthcare serves as a cornerstone for improving patient care by combining all patient-related information into one centralized platform. This integration offers healthcare practices a holistic view of a patient’s medical history, including past treatments, ongoing medications, and previous diagnostic results, enabling them to make well-informed decisions. The comprehensive insight into a patient’s health journey facilitates the crafting of personalized care plans that are tailored to the individual’s specific needs, significantly enhancing the quality and effectiveness of patient care.
RSI: The Ultimate Data Consolidation Solution
In the realm of healthcare, where the integrity and accessibility of data can significantly influence the quality of patient care and operational effectiveness, the need for a comprehensive data consolidation solution cannot be overstated. RSI distinguishes itself by integrating a vast array of data points into a single, unified system, thereby capitalizing on the numerous advantages discussed above.
Comprehensive Data Integration
At the core of RSI’s innovation is its ability to seamlessly consolidate diverse data points from various segments of healthcare operations and marketing. RSI brings together data from marketing efforts, including agencies, internal teams, Google, Meta, email campaigns, SMS, and nurturing strategies, into one coherent system. This integration ensures that marketing efforts are fully aligned with patient needs and practice goals, optimizing outreach and engagement strategies.
Enhanced Communication and VOIP Integration
RSI further excels by incorporating VOIP data, which includes calls, missed calls, time on phone, and success by team member metrics. This integration not only streamlines communication channels but also provides valuable insights into patient engagement and staff performance. The solution extends its communication capabilities by integrating SMS, email, patient education, and recall systems, ensuring that all patient interactions are captured and leveraged to enhance patient satisfaction and retention.
Patient Engagement Solutions
Our solution extends to online booking data, which collects data from practically every touchpoint from patient entry to revenue. This includes:
Appointment confirmations & reminders
Appointment availability
Survey feedback
Reputation management
Patient recall marketing
And more
By offering online scheduling services, RSI creates an automated confirmation process that reduces administrative workload, allowing staff to focus on higher-value tasks. This scheduling efficiency also places lots of flexibility in the patients’ hands, which can reduce no-show rates and last-minute cancellations. These high-engagement touchpoints are already beneficial to both the patient and the practice, but also provide the practice with further advantages thanks to the data points collected in the process.
The journey begins with the patient’s entry of information through the online booking system. This initial step captures critical details such as the patient’s personal information, preferred appointment times, and specific health concerns or needs. This lays the groundwork for targeted communication with the patient, improving chances of getting that prospective patient to attend an appointment. Post-appointment survey feedback is another critical component, offering insights into patient satisfaction and areas for improvement. Utilizing this data allows practices to make informed adjustments to their operations, improving patient care continuously. Moreover, this feedback mechanism supports reputation management. Positive reviews can be amplified to attract new patients, while constructive feedback is addressed privately, preventing negative public perceptions. Lastly, analyzing appointment trends and implementing effective patient recall strategies can further optimize scheduling and ensure a steady flow of patient visits, contributing to sustained practice growth.
By focusing on these key areas of patient engagement, RSI helps practices leverage data to both streamline operations and significantly boost profitability.
Financial Partners Integration
RSI recognizes the importance of financial transactions in the patient care experience by integrating with financial partners. This includes digital payments and patient financing availability, ensuring that practices can offer seamless financial experiences to their patients. This integration not only simplifies the billing and payment process but also opens up opportunities for patients to access more flexible financing options for their treatments.
Capitalize on Data Consolidation Advantages By Choosing RSI
By integrating all these data points into one system, RSI creates a highly comprehensive dataset that capitalizes on all the discussed advantages of data consolidation. This includes improved patient care through a holistic view of patient interactions, enhanced data accuracy by eliminating data silos, increased operational efficiency through streamlined processes, better data security with a unified system, and enhanced reporting and analytics for informed decision-making. Moreover, RSI’s scalability ensures that as a medical practice grows, its data management capabilities can grow with it. These advantages position RSI’s platform as one of the most essential tools for any medical practice.
If you’re looking for a data consolidation solution, RSI is here to help. Click here to learn more about how our platform can transform the profitability, efficiency, and data transparency of your practice.
Association of Dermatology Administrators and Managers now have the access to leading educational opportunities through deep partnership with RSI
Jupiter, Fla. (06, 2023) – RSI has entered into partnership with ADAM , the only national organization dedicated to management professionals in dermatology practices. This partnership will improve and increase educational opportunities available to Dermatology Administrators and Managers through a combination of ongoing support and engagement.
“We are excited to help ADAM provide accessible education and resources on topics that are most important to their members. Administrators are increasingly asked to take on more with less. Most companies underappreciate the administrative members of the dermatology practice and work directly with physicians,” said Ryan Lehrl, Vice President RSI “In addition to the physicians, we know that Dermatology Administrators play a key role in engaging with patients and influencing the success of the modern Dermatology practices .”
This partnership will help facilitate the education of dermatology administrators and managers in several critical areas:
Maintaining 360-degree real-time patient engagement across all functions of the Dermatology Practice from lead management, online scheduling, reminders, and personalized patient recall
Understanding and analyzing key performance indicators (KPIs) associated with the entire spectrum of patient acquisition and engagement
Physician Recruitment and Human Resource Related functions
Navigating the increasingly complex IT landscape within the modern Dermatology practice.
“Ongoing education and development of our members is crucial in order to continue to move the specialty of Dermatology forward.,” said George E Smaistrla Jr, FHFMA CMPE CPC, ADAM’s current President. “With our strategic educational partnership with RSI, ADAM hopes to create deeper connections with our members and provide them the education they need to run successful practices and improve patient care.”
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About Red Spot Interactive
RSI is the nation’s leading CRM for medical practices providing the only single source platform for managing and automating all critical practice activities associated with patient communication, acquisition, and retention. RSI fully integrates with its clients practice management software, telephony systems, financials, and digital marketing sources to streamline practice workflows while improving the modern patient experience. The RSI platform is built off the direct analysis of 20 million unique patient appointments, 10 billion in patient payments, and 100’s of thousands of practice marketing campaigns. RSI is dedicated to empowering medical practices with innovative solutions for patient communication and acquisition.
About Association of Dermatology Administrators and Managers
ADAMmembers represent administrators, practice managers, attorneys, accountants and physicians in private, group and academic practice. This strong network enables members the ability to tap into best practices and learn from other leaders in dermatology practice management.
Media Contact: Christina Smith, Executive Director info@ada-m.org
“This company is dedicated to helping you succeed and maximizing your opportunities. They will care about your practice as much as you do, and try to get the very best from the Internet in growing your practice. From website development to social media to advertisements, they offer a full suite of services that work in harmony with one another to help bring people to you. I'm glad I went with them; they are helping me to revitalize my practice in a tough economy.”
- Laurie G.
“I have been working in the medical field for over 10 years. I have been the Director of Marketing and Practice Manager for prominent aesthetic practices in the NYC metro area. Of all the marketing companies I have worked with, Red Spot is on point.”
