business – QM2 Solutions https://qm2solutions.com QM2 Solutions Training Portal Mon, 12 Dec 2022 16:34:21 +0000 en-US hourly 1 https://qm2solutions.com/wp-content/uploads/2022/12/cropped-1541619351488-32x32.jpg business – QM2 Solutions https://qm2solutions.com 32 32 SEngage®: Experience Engagement https://qm2solutions.com/business/sengage-experience-engagement/ https://qm2solutions.com/business/sengage-experience-engagement/#respond Fri, 23 Oct 2020 09:43:58 +0000 https://wordpress-486734-1610623.cloudwaysapps.com/index.php/2020/10/23/quis-autem-vel-eum-iure-reprehenderit-qui-in-ea-voluptate/ Patient experience scores and your practice’s online reputation directly impact the bottom line of your practice.

Google is likely your largest single referral source. Seventy-seven percent (77%) of patients complete an on-line search prior to booking an appointment while 44% of Internet users look for information and ratings.   

At the same time, commercial and government payers’ commitment to value based reimbursement in provider contracting is affecting reimbursement and patient steerage. BCBS has over 500 different quality programs and United Healthcare will tie $60 BILLION dollars to value based payments by 2018. 

The bottom line: No new patient selects the fifth worst doctor online. And payers are using patient experience to create networks and modify provider payment arrangements.

What does this mean to you and your practice?  Collecting, managing, and acting on patient experience data may be one of the most important business initiatives you can conduct this year.  Fifty-four percent (54%) of healthcare executives indicate patient experience is among their top three priorities.   

SEngage® is a comprehensive experience patient engagement solution that digitally measures patient experience and identifies your biggest fans. With its reputation engine, SEngage® automatically connects the right patients to physician rating sites. The immediate results are more ratings, increased star rankings, greater patient flow, and growing revenue.

SEngage® does not stop with maximizing your on-line reputation. Your group will receive valuable insight to what your patients think about your practice, identifying areas you can improve, and promoting what you are doing well. Through both internal and external benchmarking, SEngage® gives you the information to leverage results for negotiations and marketing.

Please call QM2 Solutions (888-580-5282) for more information and a free evaluation of what SEngage can do for your practice, or request a demo on our website.

]]>
https://qm2solutions.com/business/sengage-experience-engagement/feed/ 0
Patient Experience: A Case Study https://qm2solutions.com/case-study/patient-experience-a-case-study/ https://qm2solutions.com/case-study/patient-experience-a-case-study/#respond Fri, 23 Oct 2020 09:43:27 +0000 https://wordpress-486734-1610623.cloudwaysapps.com/index.php/2020/10/23/nemo-enim-ipsam-voluptatem-quia-voluptas-sit-aspernatur-aut/ Clinic Profile:

A five (5) doctor practice, with four mid-level providers, practices in a metro area of a Midwestern city.  They are generally happy with their group, and report feeling good about the quality of service they provide.  

Three of the physicians are over 55, while the group successfully recruited a physician, who is now 2 years out of training.  The busy doctors have seen their incomes stay steady, on average, over the last few years, as they compensate for insurance changes, through expanded ancillary services, and new in-office procedures.  

The Challenge:

The group has concerns about the future as they continue to struggle with the ever increasing demands on their time.The physicians’ mean professional production, plus ancillary service revenue is $1.8M per year with each physician seeing 2250 distinct patients per year. Their practice has some competition as there are 60 Providers within a 40-mile radius of their main practice location.  While most of their competition are physician owned practices, there is a university training program in their market, and there are two community based hospitals/multi-specialty groups that also employ their own physicians.

One-third of the patient appointment slots are set aside for new patients, the group spends marketing dollars on yellow page ads, and recently updated their website. To track their marketing results, their administrator has started Google analytics and word accounts. Through these sites they now know that they see about 170 searches per month.Each of the doctors have ratings on Healthgrades (and or other rating sites). Two of the three senior physicians have 3-star ratings averaging 5 responses with one having 2.4 stars.  The youngest physician has 15 responses and an average star ranking of 4.5/5.  Cumulatively the practice has a practice average of just under 3.2 stars.  

While each of the doctors have at least one 5 star rating, due to the low numbers, negative reviews have a significant effect on their averages.  Sixty percent (60%) of the 60 physicians within their market have equal or better on-line ratings.  

The clinic has done experience surveys in the clinics, but it has been off and on and the doctors are not really aware of any effect.  They have not had any discussion with payers about experience scores.

Before SEngage®? If we are conservative and only 20% of shopping patients select another provider due to suffering in comparison to their completion, they are losing up to $30K per month in potential business.

Read More about SEngage Implementation

]]>
https://qm2solutions.com/case-study/patient-experience-a-case-study/feed/ 0
Maximizing Revenue through Reputation Management: A SEngage® Case Study https://qm2solutions.com/case-study/maximizing-revenue-through-reputation-management-a-sengage-case-study/ https://qm2solutions.com/case-study/maximizing-revenue-through-reputation-management-a-sengage-case-study/#respond Fri, 23 Oct 2020 09:32:42 +0000 https://wordpress-486734-1610623.cloudwaysapps.com/index.php/2020/10/23/sed-ut-perspiciatis-unde-omnis-iste-natus-error-sit-voluptatem/ 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!

]]>
https://qm2solutions.com/case-study/maximizing-revenue-through-reputation-management-a-sengage-case-study/feed/ 0