A 459% Return on Investment in 3 Months? See How This Healthcare Provider Did It While Improving the Patient Experience

The global pandemic has forced organizations to reconsider how they operate and support their customers. And since 2020 interactions often require a screen; organizations realize those digital solutions they put off are now needed. If there’s one industry taking an incredibly long hard look at how they’re operating, it’s the healthcare industry. According to an Accenture July 2020 survey, 90% of health executives believe organizations need to elevate their relationships with customers as partners to compete in a post-digital world.

One organization upping their technology game is MIMIT Health. They’re an independent multi-specialty physician group providing minimally-invasive surgeries in Illinois that has a mission to put the care back in healthcare. Like most health systems, their previous in-house technology solution was inefficient; it stored data across multiple systems, making it difficult to obtain a holistic report from medical records or patient data. This disjointed system cost $500,000 to maintain and created issues for interdepartmental collaboration, causing frustration for employees. It also didn’t support patient engagement nor unified visibility across patient data. When they migrated to Health Cloud and Tableau CRM, everything changed. A recent Return on Investment (ROI) Study on MIMIT Health’s new technology platform conducted by Nucleus Research illustrates how their investment in technology to improve the patient experience not only led to better patient engagement but yielded a 459% return on investment in less than three months.

Shifting to an integrated digital platform that provides a single source of truth can unlock an efficient experience for patients’ individual and specialized needs. According to Accenture’s Digital Health Technology Vision 2020 report, people want to feel important, as if the healthcare organization recognizes and takes notice of them. To deploy the first-rate service patients require, organizations also need to set their employees up for success. Supplying them with an interconnected system can streamline processes and spur a service model that allows for collaborating with patients. Providing meaningful digital experiences can help empower them and inform their healthcare experience.

After less than three months on Health Cloud and Tableau CRM, MIMIT Health’s teams gained a new level of visibility into their patients’ health journey (from the first contact to evaluation to insurance to minimally invasive journey to recovery and more) that enabled them to reach a higher level of patient engagement and increase the overall efficiency of patient engagement processes. But they also saw residual benefits from investing in an enhanced patient experience too.

According to the ROI Study, MIMIT Health realized:

Customer satisfaction increases with a single source of truth

Since Health Cloud became the single source of truth for all patient-related information, employees no longer had to hunt through data sources to find billing information, care coordinators, or past medical history. Instead, this holistic view allowed employees to provide more personalized patient experiences and collaborate more easily between departments. Previously, it took two weeks to coordinate between departments to schedule outpatient and surgery procedures. The integrated platform reduced this to an average of two-to-five days. This streamlined process, supported by Health Cloud, increased transparency and efficiency (by 30%) across MIMIT Health while increasing patient satisfaction with shorter wait times and fewer, albeit higher-quality, interactions with staff and providers.

Added visibility can reduce costs and boost the bottom line

In a year of economic insecurity, making strategic decisions based on actionable data, like inventory, allows MIMIT Health to address immediate needs while planning for the future. By leveraging its new technology platform’s power, MIMIT Health gained visibility and insights into its inventory management. The data points offered by the new platform allowed them to make strategic inventory decisions that reduced costs by 15% and can ultimately lead to a savings of approximately $150,000 per year.

Regular automated reporting makes better forecasting

Unifying data onto a single platform enabled reporting and dashboard capabilities to increase significantly. It paved the way for new fully-automated processes and ensured the correct people received the most up-to-date information to assist in decision-making. Eliminating their in-house servers and reporting functions saved MIMIT Health from spending the $500,000 it cost to maintain those servers and operations every year.

Employee experience adds to employee well-being and retention

In a recent study, 88% of leaders surveyed said an improved employee experience leads directly to improved customer experience. This year’s rapid shift to mostly digital interactions has highlighted the flaws in the tools we ask our workforce to use every day, from outdated portals to scattered resources that can be hard to find. MIMIT Health’s teams now work off the same data and collaborate from a single platform with access to everything needed to run the physician group. This simplifies everyday work processes, reinforces work relationships, identifies opportunities to drive revenue, gives employees room to work on high-value projects, and allows providers to spend more time with patients.

Adopting an agile, comprehensive platform during a time of uncertainty can seem daunting and involve high up-front costs. Still, it’s hard to understate the benefits an investment can make to the patient and employee experience and the organization’s bottom line. Nimble technology paves the way for innovation, and using systems that enable and encourage ongoing innovation makes it that much easier for organizations to remain competitive and prepare for growth. Learn more about shaping personalized healthcare experiences for patients.