5 Components of a Strong Physician Outreach Impact Report
Proving return on investment in healthcare is essential to get C-suite buy-in, which affects available budgets and resources for the future. By focusing on the financial impact of your physician outreach marketing efforts, you can demonstrate that your team is driving results and a key player in your organization’s strategic success.
There are 5 key components to generating a compelling physician outreach impact report:
1. Tie to Leadership’s Key Priorities
Use your Physician Relationship Manager (PRM) database and reports to review where you or your team spent the majority of your time last year. How do the topics captured compare to the key priorities outlined in your organization’s strategic plan? It’s important to highlight those visits that demonstrate how you are collectively advancing the goals set by your leadership team.
2. Inventory Outreach Efforts
In addition to understanding and grouping your work into key themes, it can be helpful to use your PRM reporting to understand your frequency and reach by tactic. For example, how many total visits were made? What insights can you uncover that highlight your team’s frequency and reach?
3. Data Monitoring
In order to calculate and share physician outreach impact, it’s important to establish a baseline that is based on historical volumes and revenues. This can be challenging depending on your access to the right data. Still, it is critical to calculate physician outreach impact when compared to current results. The measures used most often include new patient volumes, total cases volumes and contribution margin.
4. Connect the Dots
The goal of your physician outreach impact report should be to summarize your qualitative and quantitative results in a way that outlines cause and effect. For example, you targeted these 10 cardiologists over a 6-week period and, as a result, you saw a x% increase in new patients shared with your CVT surgeons in the 6 months following the outreach campaign.
5. Focus on Incremental Impact
You can take this one step further by using average case revenue or contribution margin data to help calculate the incremental bottom line impact for the organization. Some examples of measures you might consider using to connect the dots include:
- Increase number of new patients referred by targeted provider/practice multiplied by average revenue tied to a new patient
- Total cases generated from a target market or patient population multiplied by average CM/case
- Increase in volumes specific to provider targeted for increased alignment multiplied by average CM/patient
- Total incremental savings realized as a result of initiative
You can also consider calculating the volume or revenues preserved as a measure of success if retention were the goal because of an environmental (i.e. COVID-19) or competitive threat.
Putting the Pieces Together
Below is an example of a strategic physician outreach impact report. Click here to download a template you and your team can use to create your own impact report.
How does your organization measure physician outreach impact? See how Marketware’s PRM can help you meet your KPIs and demonstrate your return on visit. Schedule a customized demo with one of our solution specialists to get started!