Key Takeaways

Patient volumes are increasing. For example, according to one projection, outpatient volume will grow by 65% over the next decade. 

However, that doesn’t mean individuals are getting less discerning when selecting providers. With entrants from the retail industry venturing into healthcare, patients have more options than ever before.

As more competing forces emerge, how do providers ensure the lifetime value of a patient to win loyalty and support financial sustainability

A plethora of digital health advancements promise to improve patient encounters with healthcare organizations and drive lifetime value. To discern which can actually move the needle,  it’s imperative to understand how technologies can support best-in-class experiences for the long term.

How digital healthcare platforms can drive lifetime patient value

Digital health platforms can significantly enhance patient value across a lifetime by leveraging technology to improve health outcomes, increase efficiency, and personalize care. Here are five key ways these objectives are achieved:

1. Scale personalized care plans

Eighty three percent of respondents to a CVS study said they want their care teams to know personal information about them, including family medical history, genetics, and lifestyle. This finding aligns with a growing call from patients for more personalized care.

Digital health technologies allow for the development of more personalized care plans. By understanding an individual's history related to health, treatment, SDOH, and self-reported information, healthcare providers can deploy tailored guidance. And, with AI advancements, that data can be automatically gleaned, organized, made accessible, and leveraged to advise calculated interventions.

Emerging digital tools are helping scale this level of personalization with existing staff. Specifically, Memora Health’s intelligent care enablement platform proactively engages patients with care-related prompts and nudges, and records responses to help care teams better understand individuals’ statuses during care journeys. Memora’s integrated approach pulls data from systems of record for clinically informed program enrollment and hyper-personalized messaging. To streamline things further, Memora’s two-way integrations automate documentation of patient interactions with highly configurable EHR data writebacks.

2. Make integrated monitoring actionable

Digital platforms that integrate with wearable technology and remote monitoring tools enable continuous tracking of a patient's vital signs and health metrics. These devices can detect early signs of health issues such as arrhythmias, sleep apnea, or glucose level fluctuations, allowing for timely interventions. 

Various forms of early detection and management of chronic conditions can help prevent complications, reduce hospital admissions, and improve long-term health outcomes. However, within the context of monitoring, efficiently harnessing data to reap these benefits demands more than just a remote feed. Care teams ultimately have to spend time and energy sorting through information — inherently draining more resources and subverting efforts to improve lifetime value.

That’s why forward-thinking digital healthcare platforms go beyond simply cataloging information that comes in. For example, Memora’s technology automatically organizes and visualizes data over time to provide care teams with longitudinal views of care journeys. How does this benefit the lifetime value of a patient? Clinicians are provided with rich, actionable insights to resolve patient concerns faster and more thoroughly — empowering them to make informed decisions that could help patients avoid more costly complications later down the road. 

3. Enhance care self-management

Improving the lifetime value of a patient doesn’t just boil down to enabling care teams to better support individuals they treat. It’s also about empowering patients themselves to self-manage their care journeys. 

Care self-management helps improve the lifetime value of a patient in numerous ways. Patients who actively manage their health are more likely to detect issues early on and follow treatment plans effectively — especially in cases of chronic conditions. By understanding symptoms and adhering to treatments in the home setting, individuals can avoid costly in-hospital interventions and procedures that arise from unmanaged health issues. And people who see the positive health outcomes from taking an active role in managing their health could be more likely to trust their healthcare providers and remain loyal to them.

Simple, automated technologies remind patients about appointments and routine check-ups. But these functionalities only scratch the surface when it comes to empowering people to manage their health. Advanced platforms leverage AI to actively guide individuals with education resources, medication reminders, conversational status check-ins, and more. Increased engagement helps patients adhere to treatment plans, make informed decisions, and adopt healthier behaviors, leading to better health outcomes over time.

Dive deeper into how digital advancements can help patients manage their chronic conditions.

4. Help address SDOH

Improving access to resources significantly enhances the lifetime value of a patient by supporting comprehensive, timely, and continuous care. When patients have access to a wide range of healthcare resources — such as specialized services, educational materials, and support programs — they are better equipped to manage their health proactively. 

Unfortunately, SDOH often present barriers to patients when they’re seeking out care or attempting to follow treatment guidelines — intrinsically threatening delivering equitable care. These obstacles include lack of transportation to attend appointments and inadequate food security to follow nutritional guidelines. 

Moreover, accessible resources empower patients to take an active role in their healthcare journeys. Educational materials, for instance, provide patients with the knowledge they need to understand their conditions and treatment options, leading to more informed decision-making. Support programs and community resources offer additional layers of care and assistance, ensuring that patients feel supported both inside and outside the clinical setting. This holistic approach to care enhances patient engagement and adherence to treatment plans, which are critical for achieving positive health outcomes and fostering long-term patient-provider relationships.

5. Intelligently streamline patient-provider communication

Building trust is a key part of improving patient lifetime value. And at the heart of trust lies consistent communication. When communication is clear and responsive, patients feel more valued and understood, leading to increased confidence in their healthcare providers. 

This trust is foundational for long-term relationships, as patients are 6x more likely to remain loyal to providers who effectively address their concerns and involve them in their care decisions. Hence, any digital-first strategy for fostering lifetime patient value will need to be driven by solidifying patient-provider relationships.

That being said, care teams are now largely overburdened with keeping up with correspondences from patients — a factor that is impacting connections between patient and provider.  How can healthtech solve the overwhelming influx of inbox messages and calls? By answering patients upstream from the clinician. Opt for platforms that aim to intelligently reduce toggles and clicks — while giving patients the high-quality care support and engagement they expect. Patients who actively participate in their care and are supported by clear and consistent communication tend to have better health outcomes and a higher overall lifetime value for healthcare providers.

As leaders navigate an increasingly digital-first healthcare landscape, nurturing long-term patient loyalty — not just short-term improvements — will be key. By selecting platforms that scale personalized care plans, enable more actionable and simplified patient monitoring, empower individuals to self-manage their health, actively address SDOH, and embolden patient-provider communication while streamlining it, health systems can take great strides in cultivating long-lasting value. 

Speak with our experts for a deeper dive into how Memora’s platform checks all the boxes.