Crafting Trust: Patient Communication Strategies in the Era of Healthcare Mergers
Envera Health
We seamlessly connect health systems and physician groups with patients in an era of consumer driven healthcare.
In the wake of the post-COVID-19 landscape, the resurgence of mergers and acquisitions in the healthcare sector is hardly surprising. Providers of all scales are keen to mitigate the financial aftermath of two years marked by pandemic-related costs, staffing constraints, and margins squeezed by inflation. A well-executed strategic M&A endeavor holds the promise of cost reduction and heightened productivity simply by scaling up operations. This common motivation prompts organizations to navigate the intricate realm of mergers, which is both functionally and culturally challenging. Amidst the stress and complexity of managing change at this level, there's a crucial aspect often overlooked by leadership: communicating with patients.
Patients lack an understanding of the intricacies of healthcare margins, the industry's challenges, or the imperative for some organizations to resort to M&A to avert closure. They aren't perusing industry publications; instead, they are reading local news and stories that paint M&A as detrimental to patients—reducing care quality, limiting provider choices, and driving up the cost of care.
"Consumer advocates and public health analysts say residents and insurance payers have a reason to be concerned about the deal. They say research is clear: A merger in which patients benefit the most is the exception, not the rule."
Patients are bombarded with messages about healthcare mergers and acquisitions that breed discontent, fear, and distrust. Sources backing up these claims include studies such as one by the St. Louis Metropolitan Medical Society, clearly illustrating that M&A increases the cost of care for patients, and another associating hospital M&A with a decline in quality and a "worse" patient experience. What patients don't hear is that M&A can lead to expanded service offerings, improved care coordination, and the ability to negotiate better prices with private insurance.
This underscores the importance of controlling the narrative.
In today's fiercely competitive market, patient loyalty is precarious. Any negative sentiment could prompt patients to seek care elsewhere, potentially undermining any positive impact of the M&A. Organizations must proactively shape the narrative early on, steering it away from negative perceptions. This entails developing a communication strategy that acknowledges patients' concerns and assures them that their personal connection with the organization will endure.
Effective M&A Communication Strategies should encompass:
1. Personalized outreach to individual patients.
2. Details about any changes that may impact the patient.
3. The goal of the M&A and how it can benefit patients.
4. An opportunity for patients to learn more through online resources.
Personalized outreach demonstrates to patients that they matter as individuals and reinforces their role within the care community. The few minutes spent by a representative in engaging with each patient as part of an informational outreach campaign can significantly impact the patient experience.
In essence, inspiring patient loyalty demands more than a mere press release.
Envera Health stands ready to assist in conducting proactive outreach campaigns with a human touch, ensuring that patient communications align with the organization's values. Contact us to explore our short-term solution packages, offering swift and effective communication strategies while preserving your internal resources.