Deloitte research showed that hospitals with high levels of patient satisfaction oftentimes had higher hospital profitability. Here's what you need to know.
1. The association is strongest for aspects of patient experience associated with better care, particularly in the nurse-patient engagement field.
2. Improving patient experience can help a hospital improve its financial performance. Deloitte claims this is the case because better experiences increases customer loyalty, builds a reputation and brand and boosts utilization of hospital services through patient referrals.
3. Programs, like Medicare's Hospital Value-Based Purchasing Program, are rewarding hospitals for high patient-reported experience scores.
4. Factors like nighttime noise level and doctor and nurse communication have become a key hospital performance measure.
5. Deloitte conducted descriptive and regression analyses using the Hospital Consumer Assessment of Healthcare Providers and Systems and used hospital performance measures scores to show the correlation.
6. The association of patient experience with financial performance is large, even after controlling for other hospital characteristics that can determine a hospital's performance.
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