Healthcare
Value
Emotions drive
economic value
Wednesday, 12 March 2008 1

Customer How much will you pay for life threatening surgery?
Compare this to - How much will you pay for a cola?
Just asking these questions in the same breath sounds absurd, the
perception benefit in case of the surgery is so high that you will pay
almost anything were you to get better after the surgery, while you may
Restless Highest be willing to forego the soft-drink were it to get too expensive.
Agitated Perception of
Worried value The perception of value in most product categories is either driven by
cost of comparable products or perceived benefits from ownership. In
healthcare our perception of value is largely colored by our emotions.
So will you pay more to be treated by a doctor who is perceived to be
Dull the best ? – probably. However if you do get the surgery done at
Lethargic High hospital where this doctor is available and you are treated badly – the
Low energy Perception of value perception will be the reverse. Suddenly, as you start getting better
value expensive private hospitals, bad doctors, uncaring nurses and wrong
billing begin to take prominence.
In healthcare just as in hospitality business service drives customer
perception. As service is prone to be non standard and variable, any slip
Happy up – perceived or genuine is viewed by the customer with trepidation.
Comfortable Lowest More so in healthcare where the customer perceives his / her well-being
Relaxed Perception of at risk. Emotions run high not just of the patients but attendants as well
value and you can easily have a surfeit of dissatisfied customers.
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What determines
value?
What does this mean for hospitals? Should
product pricing be high, low, medium? What will
determine the emotional state of the customer?
Is there any way to gauge what customer are
willing to pay?
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Areas that transparency
drive Consumers increasingly want to know
perception more about their bodies and things that
impact them. Many times customers read
of up on their diseases and can have
Value
intelligent conversations on how a course
of treatment will impact them. Respect
your patients concern. Your fee – high or
low – will then be inconsequential as your
patients will build up trust in you and the
hospital / nursing home you represent.
Wednesday, 12 March 2008 4

Areas that personalisation
drive Consumers are increasingly looking for
perception products and services that align with their
specific personal needs and preferences—
of whether in the decision that involves a
Value
PHP or a hospital room. Going the extra
mile to make sure your customers have
the right meal, attendants are taken care
of – may not be part of hospital practices
– but this extra personal attention is
never wasted.
Wednesday, 12 March 2008 5

Areas that simplicity
drive
perception Simplicity will have growing value for
consumers confronted with information
of overload, time stress, and technological
Value
complexity. Simple processes of admission
and discharge, customer pathways and
billing are always well appreciated and
drive up customer perception of caring
and trust.
Wednesday, 12 March 2008 6

Areas that assistance
drive
perception As consumers are bombarded with more
of tasks, choices, and information, the stress
of illness can make a hospital stay truly
Value traumatic. At this stage customers need a
human interface to assist and
communicate with. Helpful signages and
caring staff can make all the difference.
Wednesday, 12 March 2008 7

Areas that appropriateness
drive Health products and services will need to
perception embrace the principle of appropriateness
of to ensure that they are suitably
communicated to users with varying
Value physical needs, resources, cultural
characteristics, literacy levels, etc.
Suggesting a baby care program to a new
mother is both appropriate and much
welcomed by a new mom.
Wednesday, 12 March 2008 8

Areas that connectedness
drive
perception Connectedness gives consumers what
of they want, when they want it, and will
help your healthcare business grow
Value exponentially if you have the right CRM
information infrastructure. Consumers
will look for products and services that
seamlessly integrate with this network.
Wednesday, 12 March 2008 9

Areas that protection
drive Protection is being sought by consumers
perception in a world that feels increasingly insecure.
of Consumers are looking for products and
services that strengthen their sense of
Value personal security and protect their
families, homes, wealth, and privacy.
Linkages with Insurance providers that
make your customers transactions easier
will be welcomed.
Wednesday, 12 March 2008 10

This presentation was made by Futurescape
To find out more visit - www.futurescape.in
Areas that transparencysimplicity
drive personalisation
perception assistance
of connectedness
appropriateness
Value protection
Wednesday, 12 March 2008 11