Healthcare is a constantly changing industry. Whether it’s new legislation or the ever-changing needs of patients, staying ahead of the curve is essential for healthcare organizations. And market research is a key part of that process. But what types of market research matter most to healthcare? Let’s take a look.
Insights from market research are critical for any industry, but perhaps none more so than healthcare. In such a rapidly-changing and highly-regulated environment, it’s essential to have a finger on the pulse of what patients, providers, and payers think, feel, and need.
But with so many different types of market research out there, it can be tough to know where to start. Here are three types of market research that we believe are particularly important in providing insights for the healthcare industry:
- Patient Journey Mapping
In order to provide the best possible care for patients, it’s essential to understand their journey from start to finish. What are their pain points? What are their unmet needs? What are their expectations? Patient journey mapping is a type of market research that can help you answer these questions and more.
- Provider Research
Just as it’s important to understand patients, it’s also essential to understand providers. What motivates them? What concerns them? What do they need in order to do their jobs better? Provider research can help you get inside the minds of providers and gain valuable insights.
- Payer Research
Payers are another key stakeholder group in the healthcare ecosystem. And like patients and providers, they have their own set of needs and wants. Payer research can help you with insights that allow you to better understand what they’re looking for and how you can best meet their needs.
- Health and wellness trends
Keeping tabs on health and wellness trends is important for both healthcare and health and wellness companies. What sorts of treatments and preventive measures are people interested in? What are they willing to pay for? What do they think of current offerings? Insights from market research can help organizations adjust their offerings to better meet consumer needs.
- Patient satisfaction
Given the complex nature of the healthcare system, it’s not surprising that patient satisfaction levels are often low. But that doesn’t mean that healthcare organizations should be satisfied with mediocrity. Market research can help identify areas where patients are particularly dissatisfied and suggest ways to improve the patient experience.
- Payer insights
Healthcare organizations also need to understand the perspectives of payers (e.g., insurance companies, government programs). What sorts of coverage do they want? What are they willing to pay for? How do they feel about current offerings? Market research insights can help organizations adjust their offerings to better meet payer needs.
Market research is critical for any industry, but especially for healthcare. Patient journey mapping, provider research, and payer research are just three types of market research that can help you gain valuable insights into the healthcare ecosystem. We hope you found this post helpful. If so, comment, like or share and get in touch with The Olinger Group today to learn more about how we can help your company.
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