ViewPoints Blog

The limitation of Traditional Demographic Data in Hospital Strategic Planning

Feb 16, 2017 9:59:56 AM
iVantage Health

When it comes to strategic planning and marketing there’s an awful lot on the line for hospitals and health systems. And not a lot of wiggle room to miss the mark.

Yet time and again I find that the data sets planners and marketers are relying on to steer their decision-making process isn’t capable of providing the necessary clarity. I see this most where demographics are concerned.

Traditionally, demographic data has all been about age, income, ethnicity etc. U.S. Government Census Bureau type of information. But truth be told, that type of data (while informative in a general sense) is pretty limiting if you’re trying to determine the ideal location for an urgent care center, or where to place billboards promoting a specific type of service.

Populations are dynamic, and composed of segments (and sub-segments) of people who share common traits and characteristics. And all of these nuances have to find a way into informing your thought process.

invision demographics.png

Today, any discussion about demographics must include reference points for:

  • Socioeconomic Traits
  • Neighborhood profiles
  • Household budget segmentation
  • Consumer preferences

This is the type of information that brings a hospital or system closer to the population it serves (or is attempting to). As competition increases and diversifies, so too has the need for broader and more sophisticated market-based analytics. And a requirement for serving a market is knowing everything there is about the population on the ground.

Reach out to me if you’d like to learn more about the type of demographic data available to planners and marketers, and how it can be used in the development of hospital strategic planning. My email address is kskiera@ivantagehealth.com.

 

 

 

Tags: strategic planning, INVISION, business development

Written by Kyle Skiera

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