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The Business Case for Developing Your PX Strategy

health reform partnering with patients patient experience value-based health care Apr 22, 2024

Running a practice or clinic is not just a healthcare service, it's also a business. And in the business world there is a profound change happening that is prioritising Customer Experience (CX) as the next growth strategy. Whether you're in healthcare, education or any service-oriented industry, a well-crafted PX or CX strategy is not just a nicety—it's becoming a strategic imperative. In this blog, we'll explore the compelling business case for investing in and developing your PX strategy, grounded in three updated strategic imperatives: adopting a partnering with patients approach, evolving to a value-based operating model, and measuring outcomes that matter to underpin innovation and achieve better patient outcomes.

What Changes? The Strategic Shifts of PX.

Let's start with those three strategic shifts that underpin any good PX strategy:

1. Adopting a Partnering with Patient Approach:

Developing a robust PX strategy begins with adopting a "Partnering with Patients" approach. In the healthcare industry and beyond, patients are not merely recipients of services—they are active partners in their care journey. By involving patients in decision-making, considering their preferences and fostering open communication, organisations create a collaborative and patient-centric ecosystem.

"A 'Partnering with Patients' approach transforms patients from passive recipients to engaged collaborators, driving a more personalised and effective PX.  And better experiences lead to better outcomes for patients.
- Dana Ronan, Co-founder, Patient Experience Agency

2. Evolving to a Value-Based Operating Model:

An effective PX strategy requires practices to transition from a transactional model to a value-based operating model. Instead of merely providing services, practitioners must focus on delivering tangible value that aligns with patients' goals and aspirations. This shift ensures that every interaction contributes meaningfully to the patient's wellbeing and overall experience.

"A value-based operating model emphasises delivering outcomes that matter, creating a sustainable and mutually beneficial relationship with patients.
- Shelley Thomson, Co-founder, Patient Experience Agency

3. Measuring Outcomes that Matter to Underpin Innovation:

To truly innovate in the realm of PX, healthcare providers will prioritise measuring patient outcomes that matter. Beyond traditional metrics, understanding the impact of services on patients' lives becomes a key driver for improvement and innovation. By collecting and analysing data using the outcomes framework of capability, comfort and calm, practitioners gain insights that fuel continuous and ongoing enhancement of their PX strategy.

"Innovation thrives when healthcare services measure and understand the outcomes that truly matter to patients, paving the way for transformative PX advancements."  
- Jill Holmes, Co-founder, Patient Experience Agency


The Enablers of PX: 

Unlocking the true potential of Patient Experience (PX) means developing a practice culture that is underpinned by three crucial values or enablers: Personalisation, Empathy and Continuous Improvement. These enablers not only enhance the quality of care but also set the stage for an inclusive culture that goes beyond transactions into one of partnership between patients and your practice.  

Personalisation:

Grouping or segmenting your patients by condition and understanding their like needs immediately allows you to begin tailoring your services to meet their individual needs.  Personalising treatment is at the core of a successful PX strategy. Leverage data, feedback, and patient segments to create customised interactions that demonstrate a genuine understanding of each patient's unique journey.

Empathy:

Empathy and compassion are the bedrock of any meaningful relationship, and a modern PX driven practice's dynamic is no exception. Embedding empathy and compassion into your PX strategy involves a culture of actively listening to patients, treating their input as equal in decision making process, understanding their challenges, and demonstrating a sincere commitment to their wellbeing. When patients feel included and understood, a deeper connection is forged, fostering trust and long-term engagement.

Continuous Improvement:

PX is not a one-time project; it's an ongoing commitment to growing your practice's maturity. Embrace a culture of continuous improvement by regularly assessing and refining your services based on patient feedback, industry trends, and emerging technologies. The ability to adapt and grow with your patients ensures that you and your practice remains a trusted partner on their journey.

The Business Benefits of a PX Strategy:

Developing a PX Strategy creates the strategic framework for you to shift your practice towards the modern operating model Australia's healthcare sector is adopting.  The benefits to your patients are unequivocable:  better engagement, better outcomes and greater trust in you and your team. 

There are added benefits to you and your practice, including operational efficiency, more empowered and engaged staff and a more competitive practice that's seen as dynamic and patient-inclusive.  

Developing your Business Case:

Developing a PX strategy is not just a business trend; it's a new template for an inclusive operating model that embraces patients in decision making, service design and as part of your care team.  Investing in PX pays dividends in customer loyalty, operational efficiency, and practice culture. By embracing the values of personalisation, empathy, and continuous improvement, along with the strategic imperatives of adopting a "Partnering with Patient" approach, evolving to a value-based operating model and measuring outcomes that matter, your practice can not only meet but exceed the evolving expectations of your patients, setting the stage for sustained success in the years to come.

But ultimately, the key test of whether it's worth developing a PX strategy comes down to asking one key question:  what's the impact on my practice or service of NOT developing one?

Further Learning:

If you want to learn how to create a roadmap for patient-driven change in your practice that will deliver better outcomes and experiences for your patients, then join our Developing your PX Strategy program here.

Further Reading and Viewing:

Blog: Exploring the six stages of patient engagement in healthcare.

Free Webinar: Mastering Patient Feedback, Compliments and Complaints.

Free Webinar: Australian Health Reform: a guide for what it means for you and your practice.

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