HSG Advisors Publishes Best Practices in Patient Attraction and Retention for Hospitals and Healthcare Systems White Paper

LOUISVILLE, Ky., November 17, 2022 (Newswire.com) - HSG Advisors, a healthcare consultancy that supports health system leaders with data intelligence to strategically improve employed physician network performance, has published a white paper in Texas Healthcare Trustees' Governance Resources, Strategy. The publication outlines "Best Practices in Patient Attraction and Retention Growth Strategies" and was created to outline best practices for measuring, reporting, and building a comprehensive growth strategy as healthcare consumption continues to shift to a predominantly outpatient experience. 

Health systems continue to operate in a predominantly fee-for-volume world while slowly transitioning towards a fee-for-value environment. Having strategies to maximize the attraction of new patients and increase retention of current patients is critical if hospitals and healthcare systems are to be successful. To survive in both volume and value-based environments, organizations are looking for best practices to develop a strategy that supports each mode of operation while ensuring patients receive proper care at the right time and location. 

"True growth is going to be driven from the top down with physicians, advanced practice providers, service line leaders, inpatient and outpatient service operators, and front staff employees being the real change agents," stated white paper author and Managing Director at HSG Advisors, DJ Sullivan. "The groups must have consistent and reliable data on referral sources, geographic opportunities and influencers, and primary and urgent care needs if they are going to be able to make decisions that will support long-term organizational goals," Sullivan added. 

Best practices for hospitals and health systems to track success in both operating environments include having access to metrics that are easy to interpret and update. By identifying the right key performance indicators, healthcare executives can better ensure that patients receive timely and informed care while meeting goals that support patient attraction and retention.  

The HSG Advisors' white paper provides an outline of the following best practices for hospitals and healthcare systems as they navigate patient attraction and retention: 

• Referral Source Alignment — Top Feeding Specialties
• Market Attractiveness
• Patient Access
• Physician and Advanced Practice Provider Need
• Market Share (Inpatient, Outpatient, Ambulatory, and Physician Office)
• Market-Based Patient Share of Care
• Primary Care to Specialty Care Leakage
• Population-Based Share of Care
• Communication

For more information on applying the practices illustrated in the white paper to healthcare organizations, contact DJ Sullivan at 502-814-1198 or email [email protected]. The white paper "Best Practices in Patient Attraction and Retention Growth Strategies" is available for download at HSGAdvisors.com.

Source: HSG Advisors