In healthcare, patient satisfaction is now about more than just the quality of treatment provided. Hospitals need to offer a smooth, relaxed experience for patients from the beginning to the aftercare. Almost two-thirds of those seeking healthcare report a negative experience with providers, which means addressing these frustrations has become imminent. In this blog, we’ve emphasized different ways to improve ROI in healthcare. This can be done by focusing on improving patient experiences to result in greater satisfaction ratings, better patient retention and finally, larger revenue.
1. Making Access Easy for Patients
A key way to enhance patient satisfaction and improve ROI in healthcare is by simplifying patient’s access to facilities as they move through your hospital. For first-time attendees, a new hospital can be quite intimidating. According to findings from CVS Health’s Health Care Insights Study 2021, 89% of U.S. adults in the survey pointed out that accessibility to care is one of the pivotal factors in their healthcare experience. When it’s hard for patients to find their appointment location, irritation intensifies and their impression of the hospital diminishes.
With Mapsted’s indoor navigation systems in healthcare for wayfinding, hospitals can help patients smoothly navigate through their premises. Reducing stress by offering precise directions when locating a clinic or the emergency department makes an enormous difference in the patient experience. Faster navigation leaves patients satisfied and more inclined to revisit and suggest the facility to others—directly affecting the hospital revenue and improving ROI in healthcare.
2. Enhancing Communication with Follow-Up Notifications
Patients value the ongoing connection with their care providers even after they are done with the hospital stay.
Accenture found that 70% of patients highly favour medical providers who communicate through text or email notifications. These notifications cover everything from preventative to follow-up care. This is an opportunity hospitals cannot pass up. It fosters confidence, guarantees compliance with treatment plans and raises patient retention levels.
Mapsted’s follow-up notification system enables hospitals to send customized messages to patients. These messages cover their next appointment and post-discharge care guidelines. This makes patients happier and keeps no-show rates down. It also increases the chances that patients will return for future treatments. This leads to a steady revenue stream and improve ROI in healthcare.
3. Reducing Wait Times with Real-Time Updates
Among the most annoying routines during a hospital visit are the long wait times. Whether you’re in the ER or anticipating a planned procedure, long wait times can ruin the experience considerably.
As per reports, 57% of patients are eager to receive automated notifications that can affect their wait time via email or text. These notifications help them stay updated about delays or their scheduled appointments. Hospitals that don’t issue updates promptly could see patients leave before receiving care. This could lead to a loss of revenue.
Mapsted’s notification system enables hospitals to provide real-time updates to patients. These updates include wait time projections and any setbacks. Greater transparency leads to less frustration and makes the waiting process more efficient. This results in higher patient satisfaction. Improving ROI in healthcare is possible with such indoor navigation solutions. Content patients are more likely to stick to their treatment plans and return for future care.
4. Providing a Stress-Free Parking Experience
Several patients find that leaving the treatment room is only the start of their hospital experience.
Stress can even grow after a full day of medical appointments. Patients often struggle to find their car in a packed parking lot. These small details can be vital to how a patient understands their entire experience.
Mapsted’s “Where is My Car” feature provides a hassle-free experience for patients. It eases what is typically a stressful situation. Addressing these small inconveniences in hospitals can improve the overall patient experience. This usually leads to return visits and positive word-of-mouth recommendations. As a result, ROI in healthcare improves with indoor navigation.
5. Creating Positive First Impressions with Personalized Messages
Understanding the weight of first impressions is crucial for people working in healthcare.
Patients who feel welcomed and cared for are likely to trust their provider more. They also tend to have higher levels of overall satisfaction. According to Accenture, 50% of healthcare consumers believe that one negative digital touchpoint can harm their relationship with their provider.
Mapsted’s personalized welcome messaging helps hospitals greet patients as they arrive. It also directs them to their scheduled meetings and makes them feel valued. This tailored approach builds trust and creates a welcoming atmosphere for the rest of the patient’s stay. Patients who feel cared for often remain loyal to the hospital. This leads to more repeat visits and increased revenues, offering tips for maximizing ROI in healthcare.
6. Emergency Preparedness and Patient Safety
During crises, hospitals are supposed to act as secure safe havens. But what if these safe havens become deadly?
In the timeframe from 2000 to 2017, there were 158 hospital evacuations in the U.S. These were triggered by both natural and artificial causes. Natural disasters like hurricanes, which caused 57% of evacuations and man-made difficulties like bomb threats necessitate swift hospital action to protect their patients. Each of these critical situations sees every second as important. Patient safety hinges on timely evacuation and effectively managed resources.
This is the environment where Mapsted’s emergency evacuation technology is relevant. Our system facilitates the fast evacuation of hospitals. It organizes and times the movement of patients and hospital staff to safety. With Mapsted’s technology, hospitals can regulate patient flow effectively. It also helps discover needed equipment instantly and makes sure critical devices are available at the right moment. Hospitals that react successfully during emergencies not only preserve life but also strengthen trust with patients and the wider community. Trust development increases a hospital’s reputation and financial stability. More patients will choose facilities that focus on safety during crises, ultimately improving ROI in healthcare.
7. Protecting Your Hospital’s Bottom Line with Asset Tracking
One of the biggest challenges hospitals face is inefficient equipment control. According to a Gartner study, 10-20% of a hospital’s inventory goes missing every year, leading to both financial losses and reduced staff productivity. It is estimated that hospital staff waste an average of 12 minutes searching for missing items. This lost time not only disrupts patient care but also impacts hospital efficiency and increases operational costs. The financial toll is significant—Gartner further estimates that between $4000 and $5000 worth of equipment goes missing per bed annually. For a hospital with 300 wards, this translates to $1.5 million worth of missing equipment each year. These funds could be redirected to improving patient care, hiring additional staff, or enhancing hospital infrastructure.
By utilizing Mapsted’s asset tracking technology, hospitals can solve these issues effectively. With real-time tracking, hospitals can ensure that essential equipment is always where it needs to be, reducing the time staff spend searching for items and preventing the financial drain caused by misplaced or stolen inventory. This boosts productivity, improves care delivery and enhances overall patient satisfaction. When patients receive timely, efficient care, they’re more likely to return, directly contributing to increased revenue for the hospital, while also providing ways to improve ROI in healthcare.
Conclusion
Prioritizing patient satisfaction is not only about better care, it involves financial consideration. Hospitals can create experiences for their patients that are both streamlined and fulfilling thanks to Mapsted’s indoor navigation solutions for healthcare. Whether by reducing stress, providing ongoing patient information, or overseeing essential equipment, improving ROI in healthcare influences a hospital’s financial outcomes. In a market that is ever more competitive in healthcare, these tiny changes can lead to considerable shifts in patient loyalty as well as revenue.
If you found this blog helpful, don’t miss our blog post on Building the Future of Healthcare: Hospital Design Trends in 2024 or watch our video on Transform Patient Care and Healthcare Facility Efficiencies With Location-Based Technology to learn more.
Frequently Asked Questions
Q1. How can hospitals improve ROI in healthcare?
Ans. By enhancing patient satisfaction, reducing wait times and using indoor navigation systems in healthcare, hospitals can significantly improve ROI.
Q2. How does indoor navigation help boost ROI?
Ans. In healthcare, indoor navigation systems help lower stress levels and reduce missed appointments, offering easier access, which leads to greater patient satisfaction and a better return on investment.
Q3. Can patient satisfaction increase hospital revenue?
Ans. Indeed, contented patients have a greater tendency to come back and suggest the hospital, immediately advancing revenue and improving ROI in healthcare.
Q4. What are indoor navigation solutions in healthcare?
Ans. Indoor navigation solutions, like Mapsted’s wayfinding, guide patients efficiently, reducing frustration and boosting ROI in healthcare.
Q5. What tips help maximize ROI in healthcare?
Ans. Focus on patient satisfaction, real-time updates and using indoor navigation solutions to optimize the hospital experience and provide a higher ROI in healthcare.