Question: The Year of the Patient: ‘Patient experience’ the competitive differentiator in 2021

From telemedicine to a blended care model, experts have predicted that 2021 is poised to be the year of the patient. While providing the best service ...
From telemedicine to a blended care model, experts have predicted that 2021 is poised to be the year of the patient. While providing the best service possible has long been the mantra of competitive companies, patient experience is expected to be the top competitive differentiator for hospitals and facilities in the new year.

Findings from the Lumeon report, “US Patient Access Leadership Research 2020/21,” spotlight the importance hospitals are placing on patient-centric experiences. The data reveals that whether care is accessed remotely or in person, the experience the patient has with the facility will be a critical business factor in the coming year.

Understanding patient experience. There’s a difference between patient experience and patient satisfaction. Agency for Healthcare Research and Quality saysexperience encompasses what happened with the healthcare facility, while satisfaction pertains to whether or not the expectations for the experience were met. To be a patient-centered facility, hospitals have to work to meet each patient’s expectations with across-the-board protocols that meet their needs, regardless of age, issue, and treatment. In 2021 and beyond, patients will expect this level of service.

Patients are realizing that they have options, and they’ll ultimately make healthcare choices that align with their expectations. They can choose face-to-face or telemedicine, urgent care or their family physician, and one hospital over another. In many ways, patients have long been poor consumers of healthcare: they went where they always went, or where their primary care provider referred them, and they paid whatever showed up on the bill. But things are definitely evolving.”

Lumeon’s report compiled responses from hospitals with more than 25,000 monthly patient appointments. While quality of care matters, respondents said the experience individuals have will be key in attracting and retaining patients, more so than providing access to new talent or services...

Source: The Staffing Stream

Michael Lee
Principal, Wealth Advisor & Focus Team Lead

With over 10 years of experience as an advisor, Michael brings a laser-focused approach to holistic wealth management. His first foray into retirement planning was when his mother retired from Kaiser Permanente Walnut Creek. As a first generation American, Michael had the duty of translating for his family – and he felt, firsthand, the stress and anxiety that large financial decisions can cause for

Together, we'll take your wealth farther

Our concierge team will connect you with the ideal advisor for your unique goals.