SEngage® express experience interviews are sent automatically to all new patients 2 weeks after their initial visit. Within four months, the practice has generated over 500 responses of which 88% give their physician a “top box” score, earning a five-star ranking. The practice places their internal star rankings on their homepage for all web traffic to see.
One-hundred and twenty (120) delighted patients link automatically through SEngage®, and complete ratings on Healthgrades, and Vitals. The new ratings make the physicians among the most reviewed physicians in the market and the overall star ranking average for the group goes from 3.2 to 4.4 stars. The net marketing affect would be $130K per year!
After 6 months, the practice has over 1000 ratings collected. SEngage® satisfaction rating system demonstrates that the practice average is 4.5 stars and shows that the top box score for the group is in the 80th percentile as compared to CMS data.
This knowledge empowers the group, who begin contract negotiations with their four largest commercial payers. (50% of the net revenue) The practice begins by offering to share their group’s satisfaction information. In exchange for the information, they agree that if they maintain a mean score within the upper two quartiles, the payer would provide a 2.5% bonus. Working with one payer at a time, the group successfully secures agreements with three of the four companies that make up $4M in annual revenue.
Experience Bonus Pool Earned: $100,000
Finally, their new payer agreements identify that if they maintain high ranking for two consecutive quarters, they earn “preferred” provider status. Preferred status means additional patient referrals from a large self-insured employer in their area.
This agreement creates an additional 10 new patients per month.
Preferred provider status: $9K per month, or $108K per year. All total, a focus on contracting nets the group an additional $208K in additional annual revenue. Through managing reputation on their own site, on commercial rating sites and contract negotiations, a five doctor practice could see over $300K per year!
