Health Care Blog October 17, 2018
Among many healthcare providers, it’s been long-standing conventional wisdom (CW) that hoarding patient data is an effective business strategy to lock-in patients — “He who holds the data, wins”. However…we’ve never seen any evidence that this actually works…have you?
We’re here to challenge CW. In this article we’ll explore the rationale of “hoarding as business strategy”, review evidence suggesting it’s still prevalent, and suggest 7 reasons why we believe it’s a lousy business strategy:
- Data Hoarding Doesn’t Work — It Doesn’t Lock-In Patients or Build Affinity
- Convenience is King in Patient Selection of Providers
- Loyalty is Declining, Shopping is Increasing
- Providers Have a Decreasingly Small “Share” of Patient Data
- Providers Don’t Want to Become a Lightning Rod in the...
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