Recently one of our healthcare customers trialed an SMS reminder service to resolve a particular issue for them. They struggled with the number of patients who failed to attend appointments or did not bother to cancel appointments, resulting in more costs and lost revenues than they realised.
Bill Cheney (Head of Channels and Enterprise for Bulletin) commented on the Business Case: “Large and small/medium customers are increasingly measuring the value of Corporate SMS not by the cost of the service but by the topline and bottomline contributions to their business.”
After implementing the SMS Reminder System, they undertook a survey of 3,742 appointments at 47 clinics over a 2-month period. The results were very positive:
- 45% Improvement in FTA (Failure to attend) Rates
- 92% post-implementation patient satisfaction
- Cost saving of $15,267 in replacing reminder letters and phone calls with SMS
- Lost revenue of $96,735 recouped due to improvement in FTA Rate
- Vast reduction in their waiting lists, freeing up staff and patient spaces
Based on savings and recouped revenue from the 2-month trial, the group are on track to generate an $8million bottom line profit increase over 5 years.