The Importance of Patient Retention in Hospital Success

To run a hospital, you need to have patients. Besides acquiring new patients, you also need to keep them loyal to your hospital. The ability to keep patients coming back to you is called patient retention. Patient retention is vital to the success of your practice. This post discusses in detail why patient retention is the foundation of hospital success.

Less Costly

Getting new patients can turn out to be quite a hustle. You need to advertise, both in mainstream media and on social media. These advertisements can be costly, so it is essential that you ensure that once you acquire the patients, you retain them. Studies have shown that it costs 90 percent less to retain current patients than to attract new ones. Therefore, as you invest in attracting new patients, ensure that you also work on patient retention tactics. 

Positive Reviews for Your Hospital

The reason why patient retention impacts a hospital’s reputation is that patient retention strategies are geared toward ensuring the patient gets the care that is personalized to them and in line with their objectives. When treatment is patient-centered, patients are likely to give more positive reviews about your hospital. This builds its reputation and, as a result, attracts even more patients to the hospital. In this case, patients are doing the advertising for you.

Getting Ahead of the Competition

Another reason why patient retention drives hospital success is that it helps the hospital to stay ahead of its competitors in terms of delivering value-based services. There is a shift in the healthcare landscape as the patient is now a consumer. Providing a more patient-friendly experience to patients has become a necessity now that they have a higher expectation of the facility delivering consistent and outstanding care at every visit.

Read more: The Top Patient Retention Strategies For Healthcare Practices

Once you invest in patient retention strategies, you can deliver what your patients need while staying ahead of your competitors. Therefore, it is essential that you start investing in patient retention strategies that are geared toward improving patient experiences.

Patient retention strategies are needed now more than ever. The landscape of the healthcare system has shifted as patients are now relying on ratings and reviews to find out which hospital has the best services. Contact Guideway Care to learn more about patient retention strategies and get a competitive advantage over other healthcare providers.