Nrc Health · NASDAQ:NRC
Nrc Health — Healthcare 2019: Trends and Predictions Webinar
65 slides from Nrc Health's conference presentation, January 2019
Slide 1: Healthcare 2019: Trends and Predictions
JANUARY 2019 Healthcare 2019: Trends and Predictions 1
Slide 2: Your Presenters
Your Presenters Brian Wynne Zach Zobel VP, GM Product Manager NRC Health NRC Health 2
Slide 3: 1/11/19: "Quitter's Day"
1/11/19: “Quitter’s Day” 3
Slide 4: 2018 Healthcare in Review
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Slide 5: 2018 Healthcare in Review: Spend on healthcare IT up $7B+
2018 Healthcare in Review Spend on healthcare IT up $7B+ – Data security – Centralizing EMRs – Focus on data interoperability (FHIR) 5
Slide 6: 84% of Fortune 50
84% of Fortune 50 6
Slide 7: NRC Health's Bold Predictions for 2018
NRC Health’s Bold Predictions for 2018 q Consumerism becomes a central pillar of governance q Digital engagement spending will double (again) q We see an uptick in Natural Language Processing q Service recovery will speed up dramatically q Price transparency begins to emerge q Brands invest in welln
Slide 8: NRC Health's Bold Predictions for 2018
NRC Health’s Bold Predictions for 2018 ü Consumerism becomes a central pillar of governance q Digital engagement spending will double (again) q We see an uptick in Natural Language Processing q Service recovery will speed up dramatically q Price transparency begins to emerge q Brands invest in welln
Slide 9: NRC Health's Bold Predictions for 2018
NRC Health’s Bold Predictions for 2018 ü Consumerism becomes a central pillar of governance ü Digital engagement spending will double (again) q We see an uptick in Natural Language Processing q Service recovery will speed up dramatically q Price transparency begins to emerge q Brands invest in welln
Slide 10: NRC Health's Bold Predictions for 2018
NRC Health’s Bold Predictions for 2018 ü Consumerism becomes a central pillar of governance ü Digital engagement spending will double (again) ü We see an uptick in Natural Language Processing q Service recovery will speed up dramatically q Price transparency begins to emerge q Brands invest in welln
Slide 11: NRC Health's Bold Predictions for 2018
NRC Health’s Bold Predictions for 2018 ü Consumerism becomes a central pillar of governance ü Digital engagement spending will double (again) ü We see an uptick in Natural Language Processing ü Service recovery will speed up dramatically q Price transparency begins to emerge q Brands invest in welln
Slide 12: NRC Health's Bold Predictions for 2018
NRC Health’s Bold Predictions for 2018 ü Consumerism becomes a central pillar of governance ü Digital engagement spending will double (again) ü We see an uptick in Natural Language Processing ü Service recovery will speed up dramatically ü Price transparency begins to emerge q Brands invest in welln
Slide 13: NRC Health's Bold Predictions for 2018
NRC Health’s Bold Predictions for 2018 ü Consumerism becomes a central pillar of governance ü Digital engagement spending will double (again) ü We see an uptick in Natural Language Processing ü Service recovery will speed up dramatically ü Price transparency begins to emerge ü Brands invest in welln
Slide 14: 2019 the year of the connected consumer
…2019 the year of the connected consumer
Slide 15: The next wave of wearable tech
…2019 the year of the connected consumer The next wave of wearable tech 15
Slide 16: Wearable adoption
Wearable adoption 19% increase since 2016 in consumers using wearable devices to capture fitness data NRC Health Market Insights Syndicated Study, National Analysis 2016-2018 16
Slide 17: Healthcare's rapid digital transformation
Healthcare’s rapid digital transformation $1.2 Trillion invested in digital transformation technologies next five years % increase (Telemedicine, AI, Wearable Tech, MyChart Adoption) $2 Trillion worldwide digital transformation technology by 2020 Map of digital playing field for healthcare. IDC 17
Slide 18: Driven by a Consumer Desire for Convenience
Driven by a Consumer Desire for Convenience 80% of patients reported that they’d switch providers for “convenience factors” alone. NRC Health Effortless Care Experiences Whitepaper 18
Slide 19: Poll: Which digital initiatives received the most investment?
Poll: Which of the following digital initiatives have received the most investment from your organization? Performance improvement Capturing experience metrics Competitive benchmarking & intelligence Experience improvement Implementing digital health 19
Slide 20: NRC Health Consumer Research Findings
NRC Health Consumer Research Findings
Slide 21: Deferment
Deferment 22.8% This is the highest of patients deferring percentage “necessary medical treatment” since 2010. NRC Health Market Insights Syndicated Study, National Analysis 2018 21
Slide 22: Outmigration
Outmigration 32.1% will travel more 15.1% of patients are leaving their than 100 miles for healthcare services. market to receive medical Those in the 35-44 age range treatment represent 6.4% year-over- year growth in outmigration for pediatric services. NRC Health Market Insights Syndicated Study,
Slide 23: Doctor Selection
Doctor Selection 34% Year-over-year growth in Finding a doctor that listens well remains consumers placing importance the top selection in selecting providers in which factor for the 4th they’ve had a previous consecutive year. experience NRC Health Market Insights Syndicated Study, National Analysi
Slide 24: Once a consumer becomes a patient, how do they prefer to provide feedback?
Once a consumer becomes a patient, Maphow dofieldthey of digital playing prefer to for healthcare. provide their feedback? 24
Slide 25: Consumer preference in giving their feedback
Consumer preference in giving their feedback 44% of consumers want to give feedback with each visit 55% prefer to give feedback via email 73% of consumers prefer to give feedback within a few days 2017 Study Conducted by NRC Health consisting of 3,089 national respondents. 25
Slide 26: Keep the outreach as short as possible
Keep the outreach as short as possible Respond to a 50 question survey 8% Respond to a 10 question survey 92% 2017 Study Conducted by NRC Health consisting of 3,089 national respondents. 26
Slide 27: The expectation to "Make it right"
The expectation to “Make it right” No 84% 16% Yes, definitely 42% of patients expect you to follow up with them if they have a bad care experience. Yes, maybe 42% 2017 Study Conducted by NRC Health consisting of 3,089 national respondents. 27
Slide 28: Poll: What percent of patient comments trigger a service recovery opportunity?
Poll: What percent of patient comments trigger a service recovery opportunity? >50% 16-25% 10-15% <10% 28
Slide 29: 2018 NRC Customer's Service Recovery Summary
2018 NRC Customer’s Service Recovery Summary 84,000 Service recovery opportunities 68% Average service recovery 38% Of service issues are resolved within 24 resolution rate hours, 55% within three days and 69% within a week. 29
Slide 30: Is the healthcare industry moving the needle in patient loyalty?
Is the healthcare industry moving the needle in patient loyalty? Map of digital playing field for healthcare. 30
Slide 31: Loyalty is on the rise
Loyalty is on the rise 3.2% 61.3% of consumers report being year-over-year growth. loyalty Those in the 65+ age cohort report the highest loyalty of 70.4%. NRC Health Market Insights Syndicated Study, National Analysis 2018 31
Slide 32: Measuring brand loyalty
Measuring brand loyalty Top 10 Consumer Loyalty #1 CHI Memorial Hospital Chattanooga #2 New York-Presbyterian/Weill Cornell Medical Center #3 Hospital of the University of Pennsylvania #4 University of Utah Health #5 McLeod Regional Medical Center— Florence #6 Nebraska Medicine #7 University of Chic
Slide 33: Access Audit: Online Scheduling
Access Audit: Online Scheduling 3/10 Have an explicit call out to schedule an appointment. 10/10 Have highly visible “Find a Doctor” page areas; many in top left of menu 33
Slide 34: Aligning your website to consumers
Aligning your website to consumers 28% of consumers want to ability to find a physician (#1 most important requested website information) 27% want to see ratings of reviews of physicians (#2) 39% of consumers under 35 request payment & billing as top website information NRC Health Market Insights Sy
Slide 35: Telemedicine Adoption Curve Accelerating?
Telemedicine Adoption Curve Accelerating? 8% Of consumers report using 90% Higher future top-box telemedicine excitement levels to use telemedicine 214% Higher future top- box excitement levels to use telemedicine for consumers over the age of 65 NRC Health Market Insights Syndicated Study, National
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Slide 39: 5 Predictions for 2019
5 Predictions for 2019
Slide 40: Convenience, Access & Personalization Converge
Convenience, Access & Personalization Converge
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Slide 43: Out of industry profile: Hospitality
Out of industry profile: Hospitality ü Digital Transformation ü Online (App) Booking ü Early Check-in ü Elevated Service ü Service Issue Resolution 43
Slide 44: Out of industry profile: Hospitality, cont.
Out of industry profile: Hospitality, cont. ü Online Ratings & Reviews ü Loyalty Rewards ü In-moment Amenities ü Price Transparency ü Pre-pay 44
Slide 45: Out of industry profile: Hospitality, cont.
Out of industry profile: Hospitality, cont. ü Mature Branding Strategy & Niches 45
Slide 46: Recommendation
Recommendation Digital scales (and is preferred) Continue to borrow from industries that do this better than healthcare 46
Slide 47: Customer Loyalty Becomes THE Metric that Matters
Customer Loyalty Becomes THE Metric that Matters
Slide 48: Measuring loyalty through NPS
Measuring loyalty through NPS Net promoter score is used in and out of industry as a way of measuring loyalty with 1 simple question: “How likely are you to recommend <<brand/product>> to a friend, family member, or colleague?”
Slide 49: Recommendation
Recommendation Socialize “loyalty” internally Deploy NPS as an enterprise metric at every care setting Capture qualitative themes and proactively address opportunities to enhance loyalty 49
Slide 50: Technology + Simplicity Enables High-Touch Care
Technology + Simplicity Enables High-Touch Care
Slide 51: Why Doctors Hate Their Computers
ANNALS OF MEDICINE NOVEMBER 12, 2018 ISSUE WHY DOCTORS HATE T HEIR COMPUTERS Digitization promises to make medical care easier and more efficient. But are screens coming between doctors and patients? By Atul Gawande
Slide 52: Slide 52
Slide 53: Recommendation
Recommendation Less is more: reduce system/process redundancy to eliminate waste (centralize systems wherever possible) Know more about what matters most to patients before the encounter Consider implementing an intelligent feedback system, that: – Gives every customer/patient opportunity to provide
Slide 54: Renewed Focus on Reducing Clinician Burnout
Renewed Focus on Reducing Clinician Burnout
Slide 55: Would not recommend Of clinicians are
25% 49% Would not Of clinicians are recommend burned out
Slide 56: Recommendation
Recommendation Give time back – “Home for Dinner” Provide micro-learning opportunities Share patient voice freely 56
Slide 57: Dr. Dana Rice - Inova
Dr. Dana Rice - Inova https://www inova.org/Physician_Directory/Dana-C-Rice-MD/823034 ¥ ete ick Rating: 48-1,731 votes Dana. Rice, MD. A member of Inova Medical Group. Dr. Dana Rice. 4.20ut of 5.(1731 Ratings, nents). Board Cartfied Speciatty: Urology. Dr. Dana C Rice MD Reviews | Fairfax, VA | Vita
Slide 58: Machine Learning and AI are Pervasive System-wide
Machine Learning and AI are Pervasive System-wide
Slide 59: Which use cases is your organization leveraging AI/ML for?
For which of the following use cases is your organization leveraging or likely to leverage AI/ML? Healthcare IT News Survey
Slide 60: AI/ML use cases survey results
Supporting clinical decision making – 77% Extracting meaning from big data – 66% Resolving operational inefficiencies – 59% Enabling earlier diagnosis – 55% Enabling population health management – 52% Optimizing admin/clinical workflow – 48% Increasing patient engagement – 45% Advancing patient beha
Slide 61: AI/ML use cases survey results
Supporting clinical decision making – 77% Extracting meaning from big data – 66% Resolving operational inefficiencies – 59% Enabling earlier diagnosis – 55% Enabling population health management – 52% Optimizing admin/clinical workflow – 48% Increasing patient engagement – 45% Advancing patient beha
Slide 62: Recommendation
Recommendation AI/ML is not for the sole use of clinical workflow & diagnosis Employ to glean pattern recognition & predictions from vast, disparate data sets (both structured and unstructured) 62
Slide 63: Summary
Summary 63
Slide 64: Summary
Summary Consumers Crave Convenience & Personalization Building Patient Loyalty is Key Focus on Provider Wellbeing Leverage Technology to Get Closer to Your Consumers and Patients 64
Slide 65: Thank You!
Thank You! bwynne@nrchealth.com - @BrianWynne_NRC zzobel@nrchealth.com - @ZachZobel
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