AskMariaTodd™
HEALTHCARE MARKETING & BRANDING
Differentiate Your Group
Physicians often interpret “branding” to be about logos, and slogans, and naming. These are actually the outputs of branding creation.
The reason why branding is important for a healthcare practitioner or facility is that branding clarifies the purpose of the organization or practice to consumers and third-party payers. In healthcare, we use branding to create loyal patients and contracted payers, drive loyalty among employees and physicians and give them something to believe in, something to stand behind.
Successful branding can also help you break through payer lockouts and narrow networks if the employees in the community demand their employer include your practice or hospital in the provider network.
Brand Effect on Reimbursement Rates
Want Higher Rates?
In healthcare, developing a strong brand for your business helps you connect with health plans, self-funded employers, labor unions and healthcare purchasing coalitions at an emotional level. In turn, they feel good about contracting and negotiating with you which usually leads to higher (about 14% on average) reimbursement that what your unbranded competitors can achieve.
Healthcare organizations lacking an established brand compete for contracts as a commodity. When payers and patients believe that your service is easily substituted or replaced you put yourself at the mercy of market prices, and boilerplate payer contracts with little leverage to negotiate a better deal.