Improving HCAHPS, the Patient experience and profit margins all at once
September 2, 2016
A 2015 study by Accenture found that hospitals offering a superior patient experience achieve 50% higher net margins.
The research also confirms the correlation between superior patient experiences and higher margins is true for hospitals of every type and size.The figure below demonstrates that higher HCAHPS are directly related to higher margins:
HCAHPS is a standardized survey which measures a patient’s perception of their hospital experience. We recently pointed out that “online appointment scheduling with in-network providers” is one of the top 5 most preferred feature requests among consumers. Giving consumers what they want is the obvious way to drive better quality scores.
As patient experience becomes a primary focus of healthcare providers, an essential service that allows patients to self-schedule from anywhere without having to wait on the telephone can be directly tied to increased profit margins.
The takeaway of the Accenture report is this:
Online scheduling improves the patient experience, which improves HCAHPS, which correlates directly to higher profit margins.
The stronger emphasis an organization places on patient experience, the higher HCAHPS that organization receives, and as a result, the more profitable the organization becomes.
To learn more about MyHealthDirect’s patient engagement solutions and the benefits they can bring for both provider and patient, download our free report Helping Patients Adhere to Treatment Plans.