Today, home healthcare organizations are distinguishing between real-time data and right-time data. In the past, the primary focus was to avoid the deployment of expensive real-time analytics tools every now and then when business processes were being served with hourly updates. However, things have changed for the better now as home healthcare organizations are investing in real-time data analytics so data can be analyzed, interpreted, and visualized as it gets changed or created in their source systems. All this has been possible because of the introduction of CRM (Customer Relationship Management). A CRM software helps in improving the overall patient experience by enhancing the quality of post-acute care provided to patients.
Let us first read about the most important home healthcare KPIs and how a CRM software can improve data analysis, reporting, census, and facilities.
Most Important Home Healthcare KPIs Achieved Through CRM Software
Patient Volume
This metric tracks the count of patients enrolled at a particular healthcare organization and is calculated by just adding the total count of active patients enrolled at a particular healthcare organization. It helps in tracking how the healthcare organization is performing financially.
Care Effectiveness/Patient Improvement
This metric tracks the ability of the healthcare organization to turn leads into members. It is calculated by dividing the count of home healthcare episodes when the discharge assessment value demonstrates less impairment than at the start of care over the count of home healthcare episodes of care that end with a discharge during a particular period of time. The metric is vital as it demonstrates the ability of a home healthcare organization to improve the ability of a patient to execute daily functional activities.
Total Number of Medicine Errors
The metric calculates the count of medicine errors that occurred whether they are being noticed before the administration to the patient or after administration to the patient. These errors may include administering the wrong quantity or dosage, providing the wrong strength of medicine, giving the wrong medicine, etc. It is calculated by adding the total count of medicine errors during a particular period of time and helps improve the overall quality of patient care.
Client Turnover
The metric tracks the count of clients or patients that have left the healthcare organization because of poor services, who have passed away, or who may have been institutionalized. It is measured by taking the count of patients or clients that stopped receiving the organization’s services during a time period divided by the total count of patients or clients that were with the organization during the same period. The metric helps in identifying poor client satisfaction if the client turnover is significant.
Let us now discover the top advantages of real-time data achieved through CRM for analytics applications and other uses.
Benefits Of Real-Time Insights Achieved Through CRM
Improves the speed and quality of decisions
In the last few years, the segment of CRM, data management, Business intelligence, and analytics has been assisting better and faster decisions. Today, home healthcare organizations are leveraging them to work remotely or internationally as they require instant access to the latest information that is accessible in dashboards with immediate insights. This helps in improving the speed and quality of decisions to improve the overall quality of care.
Increased business agility and optimization
Today, home healthcare organizations are empowering small, well-informed, and tightly-focused teams to provide instant and smarter responses to an evolving business environment. Real-time insights help these teams stay updated with the latest data to match the organization’s urgency.
Quickly detect and address operational issues
Home healthcare teams need to respond smartly and quickly to handle rapidly changing markets and cost pressures while keeping an eye on their profit margins. Using data from IoT sensors or video feeds while leveraging predictive maintenance applications can dramatically bring down downtime in home healthcare organizations. For instance, real-time reports of patient health and past medical history can help home healthcare organizations to handle overall care more effectively.
Improve customer service with up-to-date information
Whether anyone is calling customer service at your utility company, your experience should be better than it was just a few years ago. Why? This is simply because organizations are now investing heavily in real-time data integration and CRM for their operations.
Identify and act on short-term market changes
Some organizations are highly sensitive to rapid market fluctuations and real-time data is very critical to business survival in such cases. Today, with so much emphasis on patient experience, home healthcare organizations have to respond swiftly to changing costs, demand, and customer trends.
The Future Ahead
For governments and health organizations across the globe, increasing healthcare and treatment costs has always been one of the primary concerns. This is where home healthcare steps in as it is cost-efficient alternative to expensive hospital stays.
In 2020, the size of the global healthcare market was valued at USD 299.0 billion and the same is expected to grow at a compound annual growth rate (CAGR) of 7.88 percent from 2021 to 2028. The presence of a sophisticated healthcare infrastructure, a large geriatric population, and relatively higher disposable income levels are some of the top factors driving this growth.
The surge in telehealth and untapped developing regions present huge growth opportunities today for players in the home healthcare market. It is widely believed that the overall reach of an access to healthcare will grow in the times to come while the costs and time involved in traveling to meet healthcare professionals, hospital admissions and readmissions, and unnecessary visits will be reduced.
Conclusion
A powerful CRM software like the Enquire CRM can help a home healthcare organization identify and convert more leads by offering a 360-degree holistic view of existing and potential patients. Powered by a Microsoft-based platform, the Enquire CRM also improves the overall quality of patient care and experience by ensuring that the right treatment is proactively provided to patients. By facilitating these activities, the CRM benefits patients and their loved ones as better disease management can be provided by unifying and streamlining all healthcare organization’s operations.
To discover how the Enquire CRM is assisting home healthcare organizations to reach the next level by enhancing patient care and experience, please feel free to schedule a demo.
