In segmenting your provider customer base, you may be tempted to rely on commonly available data, such as revenue and bed size. But is there a better, more nuanced way? Our recent presentation, CV Customer Archetypes and Segmentation Strategy, discussed new opportunities to define your cardiovascular (CV) customers, understand their metrics of success, and identify what they might look for in a vendor. Here are three highlights from the discussion.
View the slide deck: Examine CV customer archetypes and segmentation strategy
1. CV providers fall into one of six archetypes, each with different characteristics and investment priorities
To best understand a CV program, you'll want to know which archetype they fall into, as that is closely linked to their priorities, investment choices, and decision-making processes. As an example, Academic Medical Centers (AMCs) are high-tech, mission-driven provider institutions. But while they might be interested in purchasing a wide variety of technologies, they may have a siloed decision-making structure as they balance the priorities of service lines, departments, clinical research, and teaching units. Understanding this dynamic can help vendors tailor their sales and marketing conversations to reflect these diverse stakeholder needs. AMCs are just part of the CV puzzle, here is the full list of archetypes we discussed in detail:
2. Metrics of success for CV programs differ depending on their level of risk
Another opportunity to segment CV providers is to think about their level of risk. Knowing what programs your client is participating in can inform the metrics you should highlight in your sales and marketing pitches. CV providers can participate in the following value-based care payment models:
Beyond the metrics themselves, consider the timeframe associated with each of these models. For example, a CV provider participating in the Bundled Payment for Care Improvement (BPCI) Advanced program would scrutinize episodic costs over 90 days, rather than just the standard 30-day period. If your product has greater upfront cost than that of competitors, but you're able to make the case that you would reduce cost of care across a longer period, you would want to highlight this in your presentations to CV clients participating in a BPCI advanced bundle.
3. Care variation reduction remains top of mind for CV administrators
CV leaders are concerned about costs associated with unwarranted variation in their programs. A recent analysis by Advisory Board found that eliminating care variation could save $2,319 per case for a cardiac procedure, representing 27% of the average total cost per case.
There are a number of different initiatives a CV leader might undertake to address care variation, including physician preference items, drug choice, and recovery location. Regardless of the specific target, providers may not know where to start to maximize the long-term ROI and scale of variation reduction efforts. Vendors can position themselves as trusted thought partners to these CV clients in helping them prioritize their initiatives and identify new opportunities for reducing variation.
This webconference was part one of our three-part IDN Customer Archetypes and Segmentation Strategy webconference series, designed to give you new opportunities to deepen your customer intelligence capabilities.
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