The healthcare landscape is growing increasingly competitive. As a result, customer experience is rapidly becoming the battleground in developing a competitive advantage to attract and retain customers. To do that, business leaders are seeking ways to reach consumers and provide a painless and efficient brand experience.
Leaders who are focused on the customer experience have strategic initiatives that sound like:
“We want to shift from transactional interactions to patient-centric experiences.”
“We want to simplify healthcare.”
“We want to eliminate customer homework.”
“We want to take on more of the burden on behalf of our customers.”
“We want to resolve the customer’s issues on the first call.”
In healthcare, CX goals revolve around providing the best possible care to prompt positive health outcomes in a way that’s painless and efficient. Definitely a tall order in a current health system where at times even a simple task– such as switching to a new prescription– becomes a hassle as patients must navigate between their doctor, insurance coverage, and pharmacy to access the necessary care.
How Are You Measuring Customer Experience?
To be effective, leaders need to identify these disruptions in the first place then set goals that help eliminate the root cause of the problem. Oftentimes, teams are aware of a problem but only react directly to the immediate fix needed (rather than investigating why the problem may have occurred). This is due to teams not leveraging customer interaction data that’s available to explain why the problem is appearing in the first place.
Healthcare leaders need ways to monitor customer experience performance over time. The challenge can be finding a reliable metric to best encompass what customers are actually feeling, thinking, and doing.
That’s Where the Eddy Effect Comes In
Authenticx clients have the advantage in realizing these CX outcomes because they prioritize the Eddy Effect as a Key Performance Indicators (KPI).
The Eddy Effect is a proprietary metric that monitors when and how your customer’s ideal experience is disrupted and causes customers to feel “stuck” in a problem. Using conversational data, organizations can listen to understand and pinpoint where customers are having problems.
Being able to track when and how these disruptions occur allows the organization to quantify the size of a problem in two important ways: 1) ways to eliminate organizational waste and 2) ways to improve customer outcomes.
Why is this important? The Eddy Effect measures actual customer effort against actionable ROI tactics. There’s economic value knowing:
- On average, calls containing an Eddy last nearly 15 minutes and are 4.5 mins longer than calls without an Eddy.
- Or… The number one impact of an Eddy is additional time, and the number two impact is delays on preventable care.
Once a benchmark is established, monitoring trends over time can inform the best ways to improve the customer journey and eliminate current sources of friction.
Best Practices in Using the Eddy Effect as a Key Performance Metric
Consider the Eddy Effect as a ‘North Star Metric:’ Set long-term goals that are focused on reducing customer barriers and closing frustrating obstacles and loops. The Eddy Effect can help track progress and keep teams moving in the right direction.
Conduct Deep Dives to Identify Root Causes: Regularly analyze not just surface-level stats and feedback, but comprehensive deep dives that pinpoint root causes behind the Eddy Effect, as well as the impact these disruptions are having on customers and the business.
Proactively Take Action: Drive proactive actions and strategic initiatives based on the root cause analysis rather than responding to problems as they come up reactively).
Monitor Metrics in a Single Dashboard: Having a single view to monitor trends helps leaders track how KPIs are being met and ensure progress is goal-focused. At Authenticx, the Eddy Effect Dashboard tracks progress specifically related to the Eddy Effect metric.
Tell Me More About the Eddy Effect Dashboard
The Eddy Effect™ Dashboard combats the complexity of healthcare with feedback displayed in a single performance analytics dashboard. This allows organizations to track impactful metrics that ultimately help eliminate waste and improve customer outcomes. The dashboard quickly shows the metrics needed to make company-wide improvements from a single, convenient location.
The Eddy Effect is becoming the go-to metric for enlightened leaders who seek to create a competitive advantage through their customer experience. By thinking about the Eddy Effect as a KPI metric, leaders can better understand why and how CX disruptions are occurring, and track progress over time as they seek to build a seamless customer experience.
See Authenticx in Action
Learn more about how Authenticx analyzes customer conversations to surface recurring trends in this two-minute video.
Authenticx was founded to analyze and activate customer interaction data at scale. Why? We wanted to reveal transformational opportunities in healthcare. We are on a mission to help humans understand humans. With a combined 100+ years of leadership experience in pharma, payer, and healthcare organizations, we know first-hand the challenges and opportunities that our clients face because we’ve been in your shoes.
Want to learn more? Contact us!