Quantzig’s Data Analytics Engagement Helps A Leading Healthcare Industry Player Realize Over 5% in Profits and Improve Customer Engagement
Healthcare Industry: A Look at the Trends, Challenges, and Opportunities
2018 has been the year of emerging healthcare industry trends and it is expected to transform the industry in the years to come. This year, however, companies will witness rapid changes with transparency becoming one of the key concerns for healthcare providers. Startups of today are bringing innovative changes to the market by combining technologies like AI and machine learning with traditional practices.
With continued vertical integration, mergers and acquisitions, and big tech companies making their move to the healthcare industry, it’s becoming clear that the pace of disruption in healthcare is accelerating. Moreover, newer healthcare industry trends and the advent of technology have brought the healthcare industry to the zenith of modernization and innovation. But the constantly rising competition in this sector calls for healthcare companies to generate situational-driven strategic insights, cope with upcoming healthcare industry trends, and act with deliberate speed to acquire more customers and retain the existing ones.
As far as the healthcare marketers are concerned, it is high time that they identify the ongoing healthcare industry trends, rethink underlying assumptions, and re-engineer their approaches to marketing to stay relevant in the market and create a better customer experience.
Importance of Healthcare Data Analytics
Real-time big data analytics in healthcare is no longer an expectation, it’s a necessity for companies to manage patient safety and adhere to programs. As companies in the healthcare industry continue to expand their direct engagement with patients and meet customers “where they are” through interactions by phone, text, email and social media; adapting to evolving healthcare industry trends and technologies has become critical for companies to stay in sync with customers’ requirements.
Moreover, companies in the healthcare industry are continuously generating large amounts of data in different forms, making it impossible to manage this data over soft or hard copy formats. This is where healthcare data analytics engagement comes into play. Healthcare data analytics techniques support a wide range of healthcare functions to improve services, tackle customer’s problems in the healthcare system, and identify the current healthcare industry trends. Healthcare data analytics has offered a new way for healthcare organizations to develop actionable insights, organize their future vision, boost the outcomes, and reduce time to value. Additionally, a healthcare data analytics engagement approach is also helpful to provide insightful information to the healthcare enterprises regarding their management, planning, and customer satisfaction measurements.
As we move towards a healthcare landscape that is becoming customized for the patients, both in terms of treatments and service, we must make sure that we’re expanding access so that more patients can benefit from its advantages. Is your business ready to confront these changes? If not, don’t delay! Request a FREE proposal today!
Using Healthcare Data Analytics to Improve Customer Engagement
A renowned company in the healthcare industry with business units spread across 17 countries and an annual turnover of over USD 33 billion.
The Business Challenge: The client, a renowned company in the healthcare industry, realized that if they had to upgrade their customer experience, they will have to take a hard look at revamping their data analytics capabilities. With technological advancements and evolving healthcare industry trends, the client recognized that the quality of customer experience can always be improved if a business can quickly respond via the correct channels to manage the expectations of its customers. By leveraging Quantzig’s healthcare data analytics solution the client wanted to improve their focus on building stronger bonds with their best customers owing to the competition in the industry. Moreover, by leveraging the data analytics engagement, they also wanted to improve customer satisfaction, loyalty, and reduce churn rates.
Additionally, with the aid of Quantzig’s healthcare data analytics solution, the client wanted to analyze the preferences of their target audience and identify all the healthcare industry trends to build a better campaign that actually connects with the customers. Also, by employing healthcare data analytics, they not only needed to gather data but also keep it well-managed, organized, and classified since the insights derived would give the company the right information to develop a useful business strategy.
Personalized medicine tailored to the unique needs, genetic makeup, and lifestyle of each patient will continue to be an important healthcare industry trends. Want a personalized data analytics report for your company? Request a FREE Demo!
Solutions Delivered: The solutions and recommendations offered by our experts empowered the client to consolidate data from different sources and format into a single source to generate valuable insights for business decision-making. By leveraging healthcare data analytics solutions, the company was able to outline the global cost and average selling prices across their service lines. Moreover, they were able to anticipate the future behavior of the customers’ and accordingly segment them in order of their importance with the help of Quantzig’s healthcare data analytics solution. This helped them analyze the preferences of their target audience and, therefore, build a better campaign that actually connects with the customers. Additionally, with Quantzig’s healthcare data analytics solution, they were able to offer personalized services to the customers, which further helped them to efficiently calculate risks. Effectively analyzing this unstructured data aided the healthcare industry client in making profitable business decisions. This helped the client identify over 5% in profit opportunities.
As healthcare data analytics continues to assume a central role in healthcare, the correct approach and systems can translate to better healthcare outcomes for companies in the healthcare industry. Get in touch today!