Market research and healthcare seem to go hand-in-hand these days. Healthcare market research such as patient loyalty surveys provides healthcare practices with a better understanding of similarities and differences among their patients.
Healthcare practices often want to better understand the patient experience and levels of satisfaction. The results from these studies are often broken down by several different factors such as:
- Level of insurance
- Insurance carrier
- Primary care physician
- Office location
Recently, Drive Research teamed up with a healthcare practice to better understand their patients with Medicare healthcare insurance. Check out the objectives, approach, and results for this patient survey.
Our healthcare market research firm explains how to conduct a patient loyalty survey to gain a better understanding of similarities and differences among your patients.
In December of 2019, a healthcare practice partnered with Drive Research for a patient loyalty survey. This loyalty survey focused on collecting feedback from patients who are enrolled in Medicare (a federal insurance program for people who are 65 or older).
The healthcare market research was part of a multi-step project which will involve surveying commercial patients and regional physicians.
The Medicare patient survey addressed several core objectives, including:
- Patient loyalty to the primary care physician (PCP)
- Patient loyalty to the practice
- Patient loyalty to their current insurance carrier
- Likelihood and motivations to switch physicians
The patient loyalty survey also addressed other secondary objectives of the healthcare practice. The Medicare market research gathered an honest perspective on metrics through a third-party lens. Additionally, the feedback collected from patients will aid the client with operations, marketing, and strategy decisions.
Wondering why using a third-party market research company is important? We’ve got you covered.
To address the objectives at-hand, our healthcare market research company recommended using an email survey to collect patient feedback. Email surveys are cost-effective, offer a quick turn-around, are measurable, and gather quality data.
The combination of these benefits creates a strong ROI for our healthcare clients over other methodologies such as telephone or mail surveys.
The timeline for this Medicare patient survey was extremely aggressive. The project was inquired about on December 23, kicked off on December 28, a draft survey was delivered to the client on December 31 and launched on January 7.
The patient survey took an average of 12 minutes to complete and included 20 questions. The survey received 495 responses. Fieldwork for the survey began on January 7 and lasted until January 9.
The reliability of this data is high. At the 95% confidence interval, the margin of error for these results is +/- 4%. This means if the survey was conducted with another 495 random Medicare patients, results would yield within +4% or -4% of the totals 95 out of 100 times.
Wondering how the margin of error is calculated? We’ve got you covered there too.
The results of the study remain strictly confidential with the healthcare client. The report included background and methodology, an executive summary of themes, an infographic, and respondent persona. The appendix included a detailed question-by-question breakdown of the results.
The executive summary answered the following questions:
- Are Medicare patients satisfied with the practice?
- Are Medicare patients satisfied with their PCP?
- Do Medicare patients trust their PCP?
- Why would Medicare patients switch?
- Are Medicare patients satisfied with their insurance carrier?
- Are Medicare patients interested in additional services?
Curious about other common types of health care market research? Common studies include patient satisfaction surveys, in-depth interviews (IDIs), community surveys, physician surveys and interviews, and focus groups. Learn more about healthcare market research.
Drive Research is a market research company located serving healthcare organizations across the country. Our team has the knowledge and tools to design any quantitative or qualitative market research study for your practice.
Interested in learning more about our market research services for healthcare providers? Reach out through any of the four ways below.