The 8Ps of Data-Driven Growth

The 8Ps of Data-Driven Growth

Those engaged in marketing are often familiar with the “4 Ps”—product, price, placement and promotion. However, building a successful foundation for strategic alignment and growth requires outreach teams to use a combination of data and field intelligence. This data should focuses on a different set of Ps—”The 8Ps of Data-Driven Growth”. Below we featured a section of our Data-Driven Physician Outreach Tool Kit.

Digging into the 8Ps of Data-Driven Growth

Data Sources & Questions for Consideration

Data is the cornerstone for successful referral development initiatives. Using a data-driven approach, you can develop stronger initiatives and target lists and focus your outreach resources where they can add the most value. Data will also provide the foundation needed to measure your return on specific outreach activities. Below are some of the most common data sources you can use and key questions to ask to maximize your growth opportunities.

1. Products that Perform

Services that Define Your Organization

Data sources:

  • Organizational Strategic Plan
  • Medical Staff Planning Surveys
  • Community Needs Surveys Service Line Reports
  • HCAHPS
  • Hospital Compare
  • Focus Groups

Questions for consideration:

  • What are my organization’s strategic priorities & opportunities for growth? (strategic plan, medical staff planning surveys, community surveys)
  • What are the strongest areas within this service line & why? (service line reports)
  • What new physicians, services or equipment will be added to these areas in the near future? (strategic plan, service line reports)
  • How much growth can our operational leaders accommodate without compromising service?
  • Is our patient experience a growth accelerator or barrier? (HCAHPS, focus groups)
  • Is our quality performance a growth accelerator or barrier?

2. Position in the Market

Where You Stand in the Market as Compared to Peers

Data sources:

  • Internal Encounter Data
  • State/Hospital Association Data
  • CMS Claims Data
  • All Payer Claims Data

Questions for consideration:

  • What has been our historical growth performance? (service line, key markets, procedures, physicians, etc.)
  • What is our current market position?
  • Are we in a position to gain or lose market share?

3. Profitable Volumes

Identifying “Good” Volumes

Data sources:

  • Internal Accounting Data

Questions for consideration:

  • What data do I have regarding the profitability of the services I’m marketing?
  • Do I know how the contribution margin is tied to the admissions/procedures/tests associated with this service line?
  • Are there specific volumes we should pursue to maximize service line performance?
  • How will growth in this area strengthen our financial performance?

4. Patient Pipelines

How Patients Get to Your Organization

Data sources:

  • Internal Encounter Data
  • Incoming Practice Referral Reports
  • External Claims Data
  • Field Intelligence Reports

Questions for consideration:

  • How are new patients finding us today? (self-referral, PCPs, specialists, ED/EMS, social workers, payers)
  • What data (internal encounters, practice referral logs, claims) & field intelligence can we review to better understand existing referral patterns?
  • Where are patients being directed today & why?

5. Physician Alignment

Understand the Impact of Formal & Informal Connections

Data sources:

  • External Claims Data (CMS/All Payer)
  • Field Intelligence Reports
  • Inbound Referral Data
  • Outbound Referral Data

Questions for consideration:

  • What data do we have to better understand the network connections within our market?
  • What field intelligence can we access to know where our physician relationships stand today?
  • Are there specific relationships that would be difficult to navigate or change?
  • What data do we have to understand which providers would enhance our value?

6. Prioritization

Quantify & Rank Your Growth Opportunities

Data sources:

  • Internal Encounter Data
  • Outgoing Practice Referral Reports
  • External Claims Data (State/Hospital Association, CMS, All Payer)

Questions for consideration:

  • What business can we not afford to lose?
  • Are we missing referral opportunities from our existing medical staff?
  • Are specific physicians splitting their business?
  • What education can we offer to move the needle in our direction?

7. Plan for Progression

Actions that Advance Network Relationships

Data sources:

  • Initiatives Reporting
  • Issue Resolution Reports
  • Field Intelligence

Questions for consideration:

  • What results do we expect if this strategy is successfully implemented?
  • What series of actions can we put into place to support this strategy?
  • How many of these actions take place?
  • What percentage of targeted physicians were reached as a result of this initiative?

8. Prove Returns

The Impact of New Reimbursement Models & Plans

Data sources:

  • Internal Encounter Data
  • External Claims Data (CMS/All Payer)
  • State Data

Questions for consideration:

  • What data can I use to demonstrate the role my team & I have played in the success of my organization/service line?
  • What volume, financial, quality & alignment measures were impacted as a result?

Download the rest of our Data-Driven Tool Kit

Interested in learning more about Healthcare Analytics?

Date: July 22 2021
Subject: Healthcare Analytics
About the Author
Carrie Bennett
Carrie Bennett

Strategic Advisor
(Former COO)

Marketware