Understanding Opportunities in Minority Populations in Hospice
Trying to claim market share from your competition is challenge, especially in a highly saturated market. However, focusing your marketing efforts on increasing utilization in minority populations can present a real opportunity for your hospice. By looking to expand hospice penetration and grow the size of your market through increasing utilization in minority populations, you stand to gain greater market share because you are not competing with other agencies. You are dealing with referral sources brand new to hospice in many cases and not trying to change the opinions of your competitor’s referral sources. All you need to know is where to look and that is where Healthcare Market Resources can help.
Know Your Hospice Penetration Numbers
Calculating your hospice penetration rate is a straightforward process. You take your discharged patients by the demographic you are interested in and divide that by the matching census data for that same population. This gives you the availability to see where the opportunities are and target your marketing strategy accordingly.
Healthcare Market Resources offers you discharge data broken down by race demographics and your current market share for each element (including white, black, hispanic, asian and other) in our HOSPICE DEMOGRAPHICS REPORT which comes standard as part of our HOSPICE MARKET PROFILE. Our reports are customized for your market so you can get the demographics you need for your specific market.
Our Hospice Market Profile gives you customized market specific data so you can get a clear and accurate picture of what is happening in your local market. Having local market data gives you an advantage and the ability to see the specific areas of opportunity for your agency as well as get the inside scoop on your competition. CLICK HERE to get free samples of all the reports.