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Published on: August 1, 2019
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[Healthcare patient loyalty]
Summary
The new economy prioritizes patient needs and information management in healthcare. Strategies focus on customer retention and building patient loyalty through various marketing initiatives for sustained value.
Area of Science:
- Healthcare Management
- Marketing in Healthcare
- Health Services Administration
Background:
- The shift from a product-centric 'old economy' to a service-oriented 'new economy'.
- Healthcare systems evolving towards patient-centered models with regional management and inter-hospital competition.
- The increasing importance of information management and service usability in healthcare delivery.
Purpose of the Study:
- To explore the strategic implications of the 'new economy' on healthcare service delivery.
- To analyze the role of marketing in patient retention and customer equity within the health sector.
- To examine various customer loyalty strategies employed by healthcare providers.
Main Methods:
- Conceptual analysis of economic models applied to healthcare.
- Review of marketing principles and their application to patient relationship management.
- Exploration of customer equity and loyalty program frameworks.
Main Results:
- Healthcare is increasingly focused on recognizing individual patient needs and managing information effectively.
- Patient retention is more cost-effective than acquisition, emphasizing the importance of patient satisfaction.
- Customer equity, encompassing value, brand, and relationship equity, is a key metric for healthcare providers.
- Diverse marketing activities are utilized to foster patient loyalty, with varying levels of investment.
Conclusions:
- The 'new economy' paradigm necessitates a patient-centric approach in healthcare, moving beyond standardization.
- Effective patient relationship management and loyalty programs are crucial for long-term success and value creation in competitive healthcare markets.
- Healthcare organizations must strategically invest in marketing and loyalty initiatives tailored to their resources and objectives.
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