Emotions Drive Economic Value
The Customer Experience Company
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
be willing to forego the soft-drink were it to get too expensive.
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
the best ? – probably. However if you do get the surgery done at a
hospital where this doctor is available and you are treated badly – the
value perception will be the reverse. Suddenly, as you start getting
better 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
up – perceived or genuine is viewed by the customer with trepidation.
More so in healthcare where the customer perceives his / her well-being
at risk. Emotions run high not just of the patients but attendants as well
and you can easily have a surfeit of dissatisfied customers.
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?
Consumers increasingly want to know
more about their bodies and things that
impact them. Many times customers read
up on their diseases and can have
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.
Consumers are increasingly looking for
products and services that align with their
specific personal needs and preferences—
whether in the decision that involves a
health check-up 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.
Simplicity will have growing value for
consumers confronted with information
overload, time stress, and technological
complexity. Simple processes of admission
and discharge, customer pathways and
billing are always well appreciated and
drive up customer perception of caring
As consumers are bombarded with more
tasks, choices, and information, the stress
of illness can make a hospital stay truly
traumatic. At this stage customers need a
human interface to assist and
communicate with. Helpful signage and
caring staff can make all the difference.
Health products and services will need to
embrace the principle of appropriateness
to ensure that they are suitably
communicated. The same communication
may need to be tailored to users with
varying physical needs, resources, cultural
characteristics, literacy levels, etc.
Example - Suggesting a baby care program to a new
mother is both appropriate and welcomed.
If you are well connected with your
customers you can give them what they
want, when they want it, and will help
your healthcare business grow
exponentially if you have the right
customer information infrastructure.
Consumers are increasingly looking for
products and services that seamlessly
integrate with their network and are
personalised to their needs.
Protection is being sought by consumers
in a world that feels increasingly insecure.
Consumers are looking for products and
services that strengthen their sense of
personal security and protect their
families, homes, wealth, and privacy.
Linkages with Insurance providers that
make your customers transactions easier
will be welcomed.
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