Full beds, increased expenses, little margin and bad debt. For many hospitals, meeting budget goals is becoming increasingly difficult. In addition, for many providers, the impending capital gap is worsened by demographic trends, aging facilities, emerging competitors, staffing shortages and governmental deficits.
An often-overlooked area to help effect change is the advertising and marketing functions of a health care organization. Many hospitals and health systems still spend a majority of their budget on advertising that reaches non-paying or wrong-paying individuals and for which response and a return on investment cannot be calculated.
The solution is to focus personalized communication efforts on individuals covered by preferred payers for which response and return on investment can be tracked.
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