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November 29, 2018

Defining CRM – What It Is and Why Your Healthcare Practice Needs One

We’re glad you asked.

In short, CRM is a customer relationship management system that helps organizations better manage their business relationships. For healthcare - those business relationships can be patients; business partners like pharmacies, labs or referral networks; or other care team members. CRM systems store information on people of interest, such as potential and current patients, so you can target your communications to certain groups or use tools to promote your business to a broad audience. Within healthcare, CRM tools can be used to manage all patient engagement and communication initiatives from a single dashboard. CRM uses technology tools, such as text or email, to connect and build relationships that help the businesses to have more satisfied customers and an increased customer base. CRM tools have been used successfully in other businesses, so why not healthcare?

As healthcare consumerism continues to grow, providers have to think and run their practices and pharmacies as businesses. They have to manage overhead costs, streamline business systems, engage with customers (i.e. patients) and ensure staff morale.

For physician practices, care centers, post-acute and community pharmacies, and additional out-of-hospital care providers, CRMs provide several benefits and can be used to grow revenue and drive retention. In addition, studies show the average ROI for CRMs is $8.71 for every dollar spent.  

If you’re considering implementing a CRM at your practice, it’s important to first address the following questions:

  1. What business problem(s) do I hope to solve with the CRM? – This is primary question to ask yourself as you must understand what you want the solution to do in order to maximize its value. Consider listing out all the business problems your organization is facing, then work with your ideal CRM vendor to better understand how their platform will address those challenges.  
  2. What outcomes do I expect and how can I measure the success of my CRM? – Set what goals you expect to achieve with your CRM. Consider clear, measurable outcomes and continuously tweak your configurations to stay on track.
  3. How do I choose a CRM vendor? – With the abundance of solutions available today, it’s important to research the different CRM vendors to determine which platform will best meet your organization’s specific needs. While the cost of the system is certainly important, consider the features of the system heavily, as only certain solutions offer a range of tools that are proven to help boost sales and execute more effective communication – particularly for the healthcare industry.

At Updox, we pride ourselves on being the first single collaboration platform for healthcare CRM, offering our customers a streamlined solution that cannot be found elsewhere in the marketplace. In fact, our software serves as one, comprehensive business management platform, enabling pharmacies and physician offices to swap all of its point solutions in the exchange for our platform (which ultimately saves your practice both time and money).

Our CRM platform focuses on three key core elements:

  • Engagement – Making it easier to interact with patients how they want to be reached.
  • Productivity – Ensuring no time is wasted with multiple solutions that often only complicate (and clutter) practices.
  • Communication – Securely coordinating care with other providers, pharmacists and the supply chain while also freeing up valuable staff time.

The Updox CRM platform uses a variety of solutions to help you engage patients, healthcare partners and care team members. With Updox, you have solutions for secure text, Direct email, appointment reminders, broadcast messages, online payments or more to connect with your customers and share information to drive them to your business or communicate with them to nurture the relationship.

We’d love to work with you to transform the way your business works with the tools needed for efficient, cost-effective internal productivity, communication and engagement. To learn more about our advance solution and what we can do for your practice, please contact a member of our team today.

Topics: Pharmacy, Physicians, Blog, communication, partners, supply-chain, productivity, health-systems, post-acute-care, engagement