Business Intelligence and Analytics for Diagnostics Laboratory
I was requested by a friend for some help on his new project – Business Intelligence and Analytics for Diagnostics Laboratory. How can a diagnostic laboratory leverage the customer’s data for improving the revenue? I thought of jotting down my thoughts using my experience in the field of data, business intelligence and analytics which can be used as starting point…..
Segmentation
- Visitors (first time customer)
- Repeaters
Lead Source –
- Insurance companies – They refer their potential customers to get the health check up done before they offer life insurance cover.
- Employers – They refer their potential employees for health check ups so that they can hire physically fit people for the job.
- Doctors – They refer their clients for various advanced medical test to be done
- Individuals Patients – Individuals who subscribe for annual or six monthly packages for regular check ups (Patients suffering from Diabetes, Blood pressure etc are regular clientele at the laboratory)
Recommendations:
Visitors –
- Provide vouchers, cash discounts or loyalty benefits for first time customers to convert them into repeat customers. Create and propose a family plan to increase the engagement.
Repeaters
- Identify potential repeat customer based on his history or test data (based on the type of test conducted, reference history and general medical report). Create special offer for repeat customers.
High Value Customers –
- Identify high value customers and create special package for them, customers who can’t find time to visit laboratory, a team of specialist can visit him personally and take the required samples for testing.
Sourcing Commission –
- Identify top sources based on the number of referred customers and value of business. Create a program to incentivise the source based on their business potential.
Other Recommendations -
- Sent email intimations / SMS alert to customers for periodic testing, schedules etc (usually patients would not like to go to laboratory unless prescribed or advised by doctor on a periodic basis. Identify the customers who need periodic testing, sent them letters / email and SMS through Doctor)
- Provide information and health tips for preventive measures specific to their ailments on the blog / website (identify the media which will be well received by customers)
- Create customer information portal with blogs, health section, for customers, provide a copy of reports online.
- Tie up with large laboratory players in the market for re-selling their advance diagnostics package, specifically for customer whom you need to let go (because you don’t have the specific test equipments, facilities etc)