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Higher Stakes than CRM: Evaluating the Market for Patient Relationship Management Solutions

by John Moore III | April 03, 2018

Report Identifies Distinct Market Segments, Highlights Adoption Challenges and Opportunities for Enterprise Healthcare Organizations

BOSTON, MA, April 3, 2018 – Enterprise healthcare organizations (HCOs) have increasingly focused on improving the patient experience of care in recent years given growing attention to outcomes and ratings as a factor in reimbursement and contracting. A new class of solutions is now being marketed as patient relationship management (PRM) to meet these needs – and, as the latest report from Chilmark Research describes in detail, these solutions are much more involved than a simple retooling of customer relationship management (CRM) functionality for healthcare.

The latest Market Scan Report, Patient Relationship Management: Solutions and their Effective Applications, examines the market forces driving HCO interest in solutions that promise more targeted patient outreach, more coordinated care management, and more potential for patient self-management in between care episodes. Motivating factors include serious limitations of legacy engagement solutions to meet business case needs and consumer usability expectations, the need to support patient engagement outside the four walls of the hospital, and economic factors that range from value-based care (VBC) to provider-payer convergence to higher out-of-pocket costs for patients.

“Every HCO needs to identify how to effectively improve patient engagement and outreach efforts in order to survive and compete in the modern healthcare ecosystem – regardless of if they are engaging in traditional fee-for-service (FFS) reimbursement, experimenting with VBC contracts, or taking on greater risk through accountable care organization (ACO) or Medicare Shared Savings Plan (MSSP) arrangements. Whether the goal is brand loyalty, better self-management, or improved quality scores, an effectively engaged patient is key to success in a more outcomes-focused market,” says Brian Eastwood, lead author of the report.

The report identifies more than 60 PRM vendors divided among 7 core competencies – each of which matches to a core functionality for supporting and enabling PRM.

  • Personal Health Records (PHR) and Data
  • Care Coordination
  • Education
  • Messaging
  • Revenue Cycle Management (RCM) and Practice Management (PM)
  • CRM and Marketing
  • Patient Portal

Growth across PRM market segments is expected to be modest yet uneven over the next 24 to 36 months, with traction greatest for vendors that can support enterprise HCOs making the transition to VBC. Of the 7 market segments identified, Care Coordination and CRM are the most active, the Portal and RCM market segments are in a state of flux, and Education, Messaging, and PHR are quiet – though the recent announcement of Apple’s Health Records pilot may have breathed some life into the PHR sector.

The report identifies additional challenges and opportunities that vendors will face as they strive to gain market traction. It also provides recommendations for enterprise HCOs as well as vendors as they collaborate on the process of designing, developing, implementing, and updating PRM solutions in response to evolving care models, payment models, and consumer expectations of communication technologies.

The report includes profiles of 13 vendors identified as representative market leaders due to factors such as brand awareness, market visibility, support for patient self-management, proven outcomes, ease of use, and product vision. Vendor solutions themselves are not rated; instead, the report grades the maturity of functionality across the market for five key PRM processes: Outreach, care management, engagement, support, and analysis.

Current and prospective vendors of PRM solutions will find this report valuable, as will providers, payers, or self-insured employers looking to buy or replace a patient engagement solution. Consultants, investors, patient advocates, and others will all benefit from this in-depth report on a still emerging sector of the healthcare IT landscape.

The report is available to subscribers of the Chilmark Advisory Service or may be purchased separately. For more information, visit http://go.chilmarkresearch.com/2018-prm-msr. Direct inquiries for purchase should be addressed to John Moore III at john3@chilmarkresearch.com.

A webinar accompanying the release of the report is scheduled for early April.

About Chilmark Research:

Chilmark Research is the only industry analyst firm focusing solely on the most transformational trends in healthcare IT. We combine proven research methodologies with intelligence and insight to provide cogent analyses of the emerging technologies that have the greatest potential to improve healthcare. We do not shy away from making tough calls, and are respected in the industry for our direct and thoughtful commentary. For more information visit: www.chilmarkresearch.com/

Vendors Profiled: Care Cloud, Cerner, Conversa Health, Docent Health, Epic, HealthLoop, Influence Health, Meditech, mPulse Mobile, Orion Health, Pegasystems, Salesforce, Solutionreach

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