Millennials and Gen Z are often mistakenly blamed for “killing industries“ as well as wrongly accused of being disconnected and self-absorbed. If you look at the facts, however, you will see that none of these stereotypes are accurate about the majority of today’s younger generations. In all honesty, they are struggling in the face of an uncertain future while stuck with stagnant wages that have long lagged behind the rate of inflation. The truth is that they aren’t intentionally “killing industries.” For the most part, they simply do not have as much disposable income as older generations such as Baby Boomers and Generation X.

A lack of patient loyalty could be costing your practice more than you might think. According to one study, a patient leaving due to dissatisfaction can result in a financial loss of $200,000 over the life of a practice. The same study also found that one in eight patients claimed they had left their healthcare provider in the last year, and that one in three were planning to leave their current providers sometime in the next two years. In a healthcare marketplace where consumers have taken more control of their healthcare choices, it can be easier than ever to lose patients due to a poor patient experience.

We did it! We survived 2020! Hands down, 2020 was the toughest year (so far) of the twenty-first century. But we got through it. As we move into 2021, this is the time when many of us are making New Year’s resolutions. To help our readers commit to new initiatives for practice success in the coming year, this blog will suggest a number of useful New Year’s Resolutions for Specialty Practices.

In the few years prior to 2020, patient portal adoption among patients lagged in comparison to its level of adoption among healthcare providers. According to a 2017 GAO report, at that time, 87 percent of providers had implemented patient portals. However, only 30 percent of their patients accessed those portals. As it has been for other healthcare technologies, such as telehealth, the COVID-19 pandemic has also become a catalyst for more widespread portal adoption by patients.

According to a report from Grandview research, the market for patient engagement solutions is expected to grow by 4x between now and 2026, reaching $56.92 billion USD. Patient engagement has become increasingly important in recent years, driven by a number of factors. First and foremost, you have two young and tech-savvy generations (millennials and Gen Z) coming into adulthood and expecting more personalized online options from their care providers. At the other end of the generational spectrum, there is the last of a large aging population of baby boomers entering their later years, many of whom desire to “age in place” without losing the personal touch they’ve come to expect from their care providers. In response to the surging demand these factors have caused, the healthcare industry is experiencing a boom in patient engagement solutions.

Effective communication is a key component to the successful delivery of care. Without it, care quality is impaired. Since communication in a practice is essential to facilitating care delivery, patient satisfaction and the productivity of healthcare personnel—within all healthcare environments—there should be active communication between all members of a practice. However, some practices still struggle to communicate effectively with patients, thus preventing a smooth experience.

Welcome to the second half of our two-part blog series on Boling Vision Center (BVC), and how their practice not only survived but thrived during the COVID-19 pandemic. In Part 1, we focused on how they created a safe and enjoyable patient experience by developing new processes and services in addition to modifying old ones. In this blog, we will examine how they were able to cost-effectively achieve record numbers by executing an aggressive social media and community outreach initiative during the COVID-19 lockdown.

The COVID-19 outbreak caught many in the healthcare community off guard. In very short order, many practices found themselves scrambling to adjust to new protocols, processes and regulations. Some succeeded more than others, of course. At Nextech, we closely monitored the impact of the pandemic on our practices to gain as much insight as possible and to learn how to meet the changing needs of our users. For months, we have been conducting interviews, insight surveys and case studies with our clients to gain an understanding of which tactics are working, as well as which ones are not and we are doing our best to share these findings with our readers.