Some healthcare practitioners have quietly wondered how patient experience connects with financial performance. Improving the patient experience can help your clinic improve its financial performance by strengthening patient loyalty, building reputation and brand, and boosting utilisation of your clinic services through increased referrals of family and friends.
Patient experience scores for factors as diverse as the welcome they receive, and practitioners’ and the receptionists’ communication skills, even the smell/aroma in your waiting room can become a key practice performance measure.
Higher patient experience ratings are associated with higher profitability…
Other significant observations indicate that a great patient experience correlates to a strong return on investment and that quality staff is a significant contributor to experience and hence profitability.
Invest in staff: Highly engaged staff boosts patient experience, translating into better performance.
Positive Return-on-Investment: Investments in, patient experience increase costs, but increases revenue even more.
There is a clear and important business value in collecting and applying patient experience data. The link between good patient experience and clinic profitability is strong.