Digital Solutions for Patient Retention and Medical Adherence
The healthcare client was seeking a solution that would address the high patient churn rate by developing a more effective patient retention program. Sparity leveraging AI and ML developed a patient retention program that involves quantifying patients churn rate, by monitoring every aspect of patient cycle
The Healthcare client is a leading academic health system with a hospital-based in North America. The healthcare client provides coordinated and comprehensive healthcare services, ranging from primary, specialty, tertiary, and urgent care, all within one complete health system. The Healthcare client is committed to providing expert, compassionate care to the patients and strives to implement new patient care strategies to improve patient experience and reduce costs.
- Digital Solutions for Patient Retention and Medical Adherence
The healthcare client was looking for a solution that could address the patient churn rate and come up with a better loyalty strategy. Sparity acted quickly and developed a deep-learning AI model that analyzed healthcare data to provide insights that can help the client understand their patient churn and devise a plan to resolve it. The solution, through analyzing past patient behavior and other variables, offered predictions into what patients will do in the future. Furthermore, the solution helps monitor key performance indicators (KPIs) that help develop strategies to enhance patient retention initiatives.
Patient churn is a persistent challenge faced by nearly every health care system, and Sparity’s healthcare client knew it had to seek the advice of a specialist when it comes to patient retention program that involves quantifying patients churn rate, developing a strategic road map and adopting a different approach to prevent churn rate. Additionally, the client faced challenges identifying different mini-processes involved in the Patient cycle. Furthermore, it needed to track its patients’ attribution strength to prevent churn, make excellent operational decisions, and target actions and practices that lead to high churn rates.
Quantify Churn Rate: By analyzing relevant data points – from past visits to household composition to family income – Healthcare clients can identify those active patients who are at risk and those who are not at risk.
Data preparation and preprocessing: Appropriate data is collected, prepared, preprocessed, and transformed in a form suitable for building machine learning models and performing feature engineering.
Adopted a multi-pronged approach by analyzing the results of your marketing campaign – from email to social media and develop a program that targets new patients and keeps them coming back for years.
With its extensive experience in large healthcare organizations, Sparity was able to grasp client’s needs instantly and developed a solution that could quantify the churn rate by monitoring patient retention at varying levels, from system-wide churn down to specific physician practices with an easy-to-use patient dashboard that allows the client to view the situation from a variety of perspectives. The solution utilizes AI and ML to predict the patients’ attribution strength to prevent churn and make better operational decisions based on insights and predictions about the micro-processes involved in patient care. Furthermore, by analyzing relevant data points and various parameters such as end to end communication, appointment data, social listening, surveys, etc., the solution offers insights and suggestions to improve patient experience & loyalty.
Enhanced patient experience leads to increase in revenue
Enhanced customer satisfaction and maximize patient CLV
Increased patient retention rate to nearly 50%
Found new patient growth rate of 45%
The impact we’ve had
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