Healthcare marketing trends for 2019 according to the top 5 consulting firms.Posted on April 19th, 2019 by Jay Thomas
Healthcare marketing is a challenge, and it seems like the industry only gets more complicated. Massive multibillion-dollar mergers are tightening an already competitive marketplace. Health insurance and the cost of pharmaceuticals remain political hot potatoes.
Whether your organization is a hospital, clinic, manufacturer, or corporation, it needs to stay ahead of the market. A targeted strategy means investing in areas that bring a true return on investment.
Here are a few predictions for how to end 2019 on top from expert consultants working in healthcare today.
1. McKinsey and Company advocates new approaches
Ninety percent of healthcare payers have conducted a performance improvement program. These might include a cost transformation, mergers (such as the recent marriage of Aetna and CVS), or changed growth strategies. Most of these initiatives only create incremental improvements. Instead, companies should focus on broader adoption, cultural change, capability building, and accountability. This will amplify the effects of improvement programs to be more transformative and have a greater impact.
The takeaway for marketers: Pressures are rising in competition and distribution. Marketers are going to need more sophisticated and innovative approaches in 2019.
2. Boston Consulting Group backs data analytics
Advanced analytics have been slow to arrive in health. However, admin, sales, and marketing are making giant leaps. These advances are saving large firms hundreds of millions of dollars. Large payers currently average about two percent of admin budgets on advanced analytics. More innovative payers devote 10 percent.
Leaders in the sector are buying into analytics. Unfortunately, adoption has been piecemeal, restricted by siloed departments. Companies should be thinking big, starting at the end goal and then working backward. For example, they should start by thinking about saving two percent on costs and then work backward to find a method.
To use this strategy, payers will be looking for “integrators.” Integrators are people with inside knowledge of healthcare. They also have a technical understanding of analytics and versatile problem-solving abilities.
The takeaway for marketers: Companies that can take full advantage of analytics have taken the lead. However, others can catch up. Telemedicine, automation, and AI have become more prominent. Providers with robust data and analytics systems will reap the most benefit.
3. Deloitte says support your consumer with “superclusters”
Superclusters are private businesses, public institutions, and startups. These clusters will work to drive costs down and quality up. Healthcare marketers, along with a range of other stakeholders in care delivery, will seek a philosophical shift away from a system of sick care. Sick care treats patients after they fall ill. Healthcare supports well-being, prevention, and early intervention. Enabled by things like online reviews, consumers are at the heart of this change. Hospitals will tie indicators of profit and patient experience closer together.
The takeaway for marketers: The influence of informed consumers continues to rise. Marketers need to be more direct and authentic. Marketers also need to look to others in their supercluster for content.
4. Bain and Company favors positive patient communication
Surveys show that discontent among frontline staff is rising in Europe. Big Pharma and medtech providers are the targets. Seven out of ten physicians and surgeons say they are dissatisfied. The cause? Content from pharmaceutical and medtech companies.
The root cause for concern could be misalignment within hospitals. Procurement managers are driven by cost. Doctors and surgeons are motivated by service, quality, and support. Evolution and change in healthcare are stalling. Pressures, both from aging populations and consumer demand, increase. Expect incremental improvements and a shift to holistic care systems led by digital solutions.
The takeaway for marketers: Europe-based research has relevant lessons for American healthcare. Improved patient communication and customer service will be increasingly important to healthcare companies. Finding and retaining top workers in the field will remain a challenge. Marketers should not dismiss doctor and consumer dissatisfaction while highlighting positive advances.
5. Huron Consulting Group focuses on three key targets
Huron Consulting Group hosted a forum with America’s top CEOs in healthcare. The following three points of focus emerged:
- Consumer Experience
- Focused Investment
- Certainty through Leadership
The industry is moving toward an emphasis on value, rather than price. Knowing your consumer and what they value is paramount. Experimentation and optimization of your various initiatives will be crucial to growth. For leaders, this transformational change requires genuine vision and courage.
The takeaway for marketers: Professionals need to do things differently. To succeed in today’s disrupted marketplace, you need to adapt. Look to your consumer for what’s coming next for the industry.
Experts follow trends, innovators break them
To be the absolute best in your industry, you need to buck trends. But, you need to understand them first.
Observing these trends for the coming year can help you on a path to take your career to the next level.
However, you’ll also want to use these insights to develop your team. To be effective and compliant, you need your team fine-tuned with market intelligence.
You can achieve real-time business intelligence and true sales and marketing alignment. It could come through trends or through a software platform. Triptych caters specifically to the healthcare market. Our experts know how to supercharge and scale up your field marketing teams. Contact us today for a free demo.