CPM Marketing Group, Inc., the market leader for healthcare customer relationship management (CRM) and strategic marketing solutions, announced today the introduction of its Planning and Forecasting (P&F) system designed to provide actionable forecasting information to assist hospitals and health systems in planning. Leveraging CPM’s CRM technology, the comprehensive system includes a robust database, detailed consumer and patient indexes, local forecast adjustments, real-time analytics, “big picture” dashboards, customizable mapping, in-depth reporting and a library of workbook solutions.
The P&F system uses CPM’s proprietary Data Fusion® database construction and maintenance system to produce definitive demographic and utilization/encounter forecasting to help hospitals plan how to allocate resources, which service lines to promote and adopt, as well as where to target marketing efforts. To produce accurate forecasts, the system aggregates a multitude of data-sets ranging from health plan records, patient history and state hospital association intelligence to psychographic, demographic, geographic and census information. This knowledge-driven analysis enables hospitals to allocate funding to the most cost-effective initiatives, which leads to a positive impact on the bottom line.
“Responding to our clients’ requests for a planning and forecasting system that integrates with their physician and consumer marketing systems, we developed a powerful solution that truly allows hospitals to understand their marketplace and build accurate, actionable, strategic plans,” states John Hallick, CEO of CPM Marketing Group. “Our main goal in developing this system is to help hospitals maximize opportunities for growth, while reducing capital risk.”
The scientifically based system is designed to:
- Determine where the most desirable patient segments reside today and where they will reside in the future.
- Understand the size and shape of future marketplaces to better meet patient needs.
- Determine the competition’s strengths and weaknesses.
- Build referrals and physician collaboration.
- Learn how to better target the growing outpatient market.
- Estimate the total quantity and charges for inpatient, outpatient and emergency room encounters.
- Estimate universal service line utilization.
- Allow individual hospitals to make local forecasting adjustments based upon inside knowledge of the local marketplace.
- Harmonize planning with business development and marketing efforts.
“After a year of beta-testing at various hospitals, we have perfected our planning and forecasting technology,” states Hallick. “By rigorously testing our system in difficult geographic areas and comparing our algorithms against the industry standards, we have found that not only are our results accurate, our system consistently outperforms other forecasting methods in specific key areas.”
CPM Marketing Group supports its P&F system with expert consultation and research services. A team of strategic planning and forecasting consultants can assist hospitals to build an effective strategic plan through data analysis, program planning, messaging strategy, campaign design, reporting and patient utilization forecast services.
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