By David F. Zirkle, Ph.D
So a new year is almost upon us. Besides making the obligatory observation that time seems to be moving ever more quickly, what difference does a new year make? For most of us, as the year draws to a close, there is no better time to reflect and take stock of the past year as we plan and prepare for the coming one.
Physician relations programs are no exception to this rule. One useful exercise as the year comes to a close is to review the data and information available to many programs. While not all programs will have access to the same data, some of the more common items you can include in your year-end review are listed below.
Review Market Trends
First, programs should include a review of trends for the organization’s strategic growth areas. When possible, a 3-year trend, or at a minimum, year-over-year changes for strategic growth areas should be reviewed. Sales activity in the field should be compared to outcomes to evaluate past performance and prepare for the coming year. Two common data sources include:
- Market Share – While not always available, market share data is the one sure-fire way to assess your organization’s performance relative to competitors in the marketplace. However, even when available, there is often a significant time lag in receiving market share data. Ideally, market share broken out by hospital and service line should be reviewed to determine if gains have occurred in those areas targeted by the organization for growth. Similarly, market share losses in strategic growth areas should be identified for further analysis and investigation.
- Internal Data – Even when market share data is not available, most organizations can produce volume reports in a timely fashion. Inpatient data can almost always be broken out by service line and in some cases further reporting is possible at the physician level. Similar to market share, volume outcomes should be compared to sales activity to assess program impact and make adjustments if necessary. When available, the same type of review can be conducted with outpatient data.
Referral Data
To the extent such data is available; referral volume for physicians targeted by the sales program should be reviewed to assess performance. For example, did referral volume increase among those physicians targeted for growth? Are there physicians with declining volume that require further attention? Are there new referral sources that should be targeted in the coming year?
Review Your Competition
Take a good look at the current market situation. Have there been any competitive developments in the marketplace that deserve further attention as plans are made for the coming year (e.g. hospital openings or closings, new services introduced into the market, changes in managed care contracts, addition or defection of key physicians, etc.)?
Input from Colleagues
While the “hustle and bustle” of the holiday season places time at a premium, perhaps asking a couple of questions with those close to the physician relations program regarding performance is possible, e.g. senior leadership, service line leaders, physician leaders, marketing, planning, etc. A short four to five question survey addressing the following areas can help you take stock of the past year and plan for the coming one.
- Identify Your Accomplishments – What better place to start than focusing on what your program has done well. What has been achieved this year and should remain a focus in the coming one? What if any major breakthroughs occurred?
- Identify Your Disappointments – While much can be learned from the program’s successes, less than favorable outcomes should also be part of the year-end review. What things did not go as you had planned or hoped? What could have been done better?
- Review Your Priorities – Are the strategic growth areas supported by the physician relations program still appropriate? Or should sales activity in the coming year be focused on other areas to maximize growth potential? For example, do you need to revise your physician target lists based on your review?
- Review Your Key Messages – Are the unique differentiators and the value proposition communicated to physicians still relevant? Or should key messages that speak to physicians be modified to meet new or changing conditions?
Others Sources
To varying degrees, most organizations also have access to a variety of other data and information sources that can round out your year-end review. Some of these may include:
- Demographics – Demographic data is generally updated on an annual basis and can help identify significant population changes and possible geographic targets across your service area.
- Market Research – Consumer studies can provide valuable insight regarding awareness, image, overall opinion and preference for a variety of hospital services.
- Patient and Physician Satisfaction – A quick review of these studies can provide valuable insight from these key constituents regarding their level of satisfaction and any issues or concerns with the organization’s programs and services.
- Miscellaneous – Other items such as medical staff development plans and call center or web metrics can also support your year-end review.
So, as the current year comes to an end, what better time to reflect on the past year as you plan and prepare for the coming one? Remember, looking back can help as you look forward.