Moving forward in today’s volatile post-acute care market can feel like hitting a moving target. SimiTree’s new data tool helps home health and hospice agencies improve their aim with growth strategies based on market intelligence.
The SimiTree Market Analysis Platform (MAP), introduced this month, offers frictionless access to critical market research, making it quick and easy to pinpoint high referral targets, track patient movement between competitors and referral sources, and demonstrate to potential partners the value the agency brings to the relationship.
“Our experience tells us that the right data makes all the difference when it comes to home health agencies and hospices focusing precious time and resources for the greatest impact,” said Christine Lang, SimiTree Director of Data Analytics. “With the Market Analysis Platform, we want to make those metrics accessible to a wider audience, and we are getting great feedback from clients that we are making their jobs easier.”
An evolving market
The home health and hospice landscape continues to shift, and agencies must be prepared to react to or get ahead of emerging trends, Lang said.
Patients’ needs and expectations are changing, competitors are rethinking their approach to their markets, other providers are altering how they work with home health and hospice, and payment models are frequently being re-evaluated and refined. In response, many agencies are considering launching new lines of service or expanding into a new community.
“These sorts of business development efforts are especially improved by a data-driven approach, to ensure a service extension is viable before developing it and to take a targeted approach to program design and positioning,” Lang said.
MAP can help agencies in this position, providing details on the patients, players, and partnerships existing in a space. This leads to an informed focus and the ability to identify and demonstrate competitive strengths, Lang said.
“Even if your organization is looking simply to solidify or increase market share in your current space, success is bolstered by using market data to focus scarce time and resources and effectively present your value proposition to potential referral partners,” she said.
Simple and customizable
In developing the Market Analysis Platform, SimiTree leveraged the expertise of its consultants and the experience of working with hundreds of clients who address real-world challenges and achieve growth goals with a data-driven approach.
“As a result, we built something that makes it uncomplicated for busy professionals to access, understand, and use the market intelligence they need,” she said. “We cut through the confusion and created clear reports that highlight the most important observations, so that you can spend your time acting on the data rather than digging through it. At the same time, the dashboards can be tailored to meet the needs of the organization or the specific project at hand.”
MAP helps agencies:
- Quantify current and trended market share of all providers
- Identify high referral targets and their referral practices and patterns
- Evaluate competitors and partners, including revenue trends, service footprint, quality scores and patient movement
- Effectively present their value proposition to referral partners
- Evaluate which path may best lead to growth goals
- Understand market characteristics that influence their sales and marketing approach
Schedule a free demonstration
To schedule a free demonstration of SimiTree’s new MAP tool, call 800.949.0388 or reach out to us via the contact form below.