Key Challenges
- The healthcare client sought a solution to address the high patient churn rate by developing a more effective patient retention program
- Needed to develop a strategic road map and adopt a different approach to prevent churn rate
- Identifying different mini-processes involved in the complex patient life cycle was difficult
- The client wanted to track its patients’ attribution strengths to prevent churn, make excellent operational decisions, and target actions and practices that lead to high churn rates
Solution
- Leveraging AI and ML, Sparity developed a patient retention program that involves quantifying patient churn rate by monitoring every aspect of the patient cycle and devising a plan to resolve it
- Sparity leveraged Cloudera and Hive to host transactional data and transform the data respectively
- The right data is collected, cleaned, preprocessed, and changed into a form that can be used to build machine learning models and feature engineering
- Preprocessed patient data is fed into the QlikView dashboard, and the Apache Spark in-memory processing engine determines patient churn probability
- By analyzing relevant data points and various parameters such as end-to-end communication, appointment data, social listening, surveys, etc., the solution offers insights and suggestions to improve patient experience & loyalty
- By analyzing relevant data points—from past visits to household composition to family income—the client can identify those active patients who are at risk and those who are not
- The solution predicts patients’ attribution strengths to prevent churn and make better operational decisions based on insights and predictions about the micro-processes involved in patient care
- Adopted a multi-pronged approach by analyzing the client’s marketing campaign results – from email to direct message to social media – and developed a program that targets new patients and keeps them coming back for years
- The solution helps monitor key performance indicators (KPIs) that help develop strategies to enhance patient retention initiatives
Benefits
- Increase in Patient Revenue
- Enhanced customer service and satisfaction
- Maximize patient customer lifetime value (CLV)
- Increased patient retention rate to nearly 50%
- Found a new patient growth rate of 45%
- 70% reduction in manual effort
