Navigating the Tipping Point:
Strategies for Reputation Management in a Volatile Healthcare Environment
As healthcare marketers navigate changes in a volatile industry, they can know one thing is certain: we’ve reached a tipping point where patients increasingly rely on crowdsourced consumer feedback rather than brand promises or provider referrals when seeking care. In fact, over 86% of consumers read online patient reviews, and 73% of those consumers demand a minimum star rating of 4 stars to even consider engaging with a provider.
The 2024 Healthcare Trends Guide explores four pivotal trends shaping the healthcare industry, namely strategic imperatives in healthcare: the consumerization of healthcare, the impacts of the healthcare talent crisis, mergers & acquisitions (M&A) activity and the adaptation to AI-enhanced healthcare discovery.
Consumerization of Healthcare:
Patients expect the same convenience and service in healthcare as in hospitality or retail. While appointment accessibility slightly improved in 2023, overall industry sentiment remains low, below 50%.
Healthcare Talent Crisis:
High turnover rates impact patient care and reputation performance. Healthcare organizations with high employee review ratings also tend to have better Google Business Profile ratings.
Mergers and Acquisitions:
The healthcare landscape is being shaped by mergers and acquisitions, emphasizing non-organic growth. Amidst consolidation, organizations must prioritize reputation management to maintain trust and loyalty..
AI Care Seeking Journey:
AI presents transformative potential for healthcare, but marketers must balance being found through Google’s Search Generative Experience while ensuring regulatory compliance. This necessitates a blend of automation and human touch.