Your competitive advantage: Leveraging market data to target referrals.
What is market data, where does it come from, and how do you extract insights that will drive referral programs?
In this eBook, we look at how understanding referral patterns—and more importantly, the data insights within those patterns—can help drive business into your network and grow your referral sources.
Providers are shifting from fee-for-service to fee-for-value. There is now a blur between providers and payers, which means that providers are being asked to take additional risks. Most referral sources today don’t want to work with a large number of providers. Instead, they want to work with key strategic providers, which allows them to prepare for risk-based contracts.
Why it matters?
The ability to understand who your referral sources are and where they are directing patient flow helps you better understand how your business is impacted. This is even more important in the home health space because discharges from home health have now exceeded that of skilled nursing from 2019 to 2020.
The acuity of the home has grown over a period of time. To effectively manage large populations, there’s a push toward lower lengths of stay in higher-cost care settings and moving care to lower-cost settings.
In this new normal, it’s important to understand how your referral sources work, what they are sending to you versus the competition, how to deepen relationships with these sources, and what differentiates you as a provider in the marketplace.
Read the eBook to learn more.
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