Hospital branding is a necessary part of your marketing strategy. Unfortunately, many healthcare executives think just because their centers are an indispensable part of society, they’ll always have patients and be profitable. Nothing could be farther from the truth.
What brand is your cell phone? There’s a 50% chance you have an Apple phone and a very low probability you have a Nokia.1 But 20 years ago, Nokia held more than a third of the U.S. cell market.2 What happened? Nokia balked at branding.
This company, like so many others, thought selling a product people believe is necessary creates enough momentum to thrive. But because Nokia ignored branding, the company merely survived instead of thrived. You want the opposite for your hospital.
And although you may think hospitals and cell phone companies aren’t comparable, your hospital system could also fall victim to poor branding. Thankfully, a strong brand strategy can help your hospital attract new patients and improve satisfaction.
Why Do You Need Hospital Branding?
What is the lifeblood of your marketing strategy? You guessed it. Your hospital branding determines how you communicate your message to the world. Branding also helps hospitals stay competitive, attract the best medical talent, and build trust with patients. But these aren’t the only reasons.
1. Equitable Insurance
In the past, patients would most always use the hospital closest to their homes. Not anymore. The increase in consumer awareness, and the rights of the Affordable Care Act (ACA), have fundamentally changed how prospective patients look for healthcare providers.
Patients have more autonomy than ever over their healthcare decisions, and they’re taking advantage of this newfound power. Thanks to changes ushered in by the ACA, everyone has equal access to quality healthcare. And patients are willing to go out of their way for quality—even if they have to drive 30 minutes past a mediocre hospital to get to a great one. Good hospital branding ensures they’ll be driving to your hospital.
Your hospital is judged by the value you provide, and your branding conveys this value. Patients want to know what you’re all about. Satisfaction scores, positive outcomes, and your focus on prevention over treatment rather than filling beds influence the healthcare decisions patients make.
2. Staying Competitive
Increased competition is a byproduct of the ACA, and the more healthcare facilities there are, the more critical hospital branding becomes. Standing out in a crowd of health systems isn’t easy, and when patients have all the power, you need to differentiate your hospital from the rest.
In 2021, U.S. health care spending topped $4.3 trillion.3 Despite the incredible amount of money spent on health care, this number is on an upward trend. Deloitte estimates the U.S. healthcare industry will be worth $12 trillion by 2040. As competition heats up, strong branding will position your hospital to maximize its footprint and help more patients.
3. Attracting Top Talent
The staffing plight of the healthcare industry is no secret. Since the COVID-19 pandemic, many hospitals and health systems have struggled to maintain staffing levels. Investing in your hospital branding can help you attract and retain top talent!
Most job seekers in healthcare read patient reviews before applying for a position. If the reviews are negative, 80% won’t even apply.4 In terms of diversity and inclusion, poor reviews make women even less likely to submit job applications than men. Developing and maintaining a solid brand helps solve this problem and gives future employees a great first impression.
And branding doesn’t just help with finding applicants. This marketing tool can even increase employee retention by 28%.5
4. Building Trust
Arguably the most important aspect of health care is trust. Without trust, patients won’t be willing to step foot in your hospital. Sick people want assurances that their interactions with hospitals, doctors, nurses, and caregivers will be positive. And their faith isn’t given freely. Trust must be earned.
Great hospital branding establishes the connection you need to build a relationship with your community. As a result, your patients will be two times as likely to remain loyal and even recommend your hospital to others.6
Dreamscape Marketing can help with your hospital branding. Schedule a strategy session with us by calling 888.307.7304.
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