Sometimes it’s hard to tell how effective your marketing strategy is, especially in the behavioral health sector. Reporting numbers aren’t always as accurate and may not fully represent your behavioral healthcare company’s successes and opportunities. It’s hard to see the long-term impact of marketing and understand sustainable growth without measuring your behavioral health marketing ROI or return on investment (ROI). An ROI can help you better understand your marketing goals and how they are or aren’t being met. A lack of ROI analysis can cost patients and providers money and time and impact treatment.
Ready to learn more about your behavioral health return on investment? The team at Sunwave Health offers an integrated and comprehensive behavioral health software platform to increase efficiency in operations, financial management, and patient retention. Learn more about Sunwave Health’s financial modules by calling us now at 561.576.6037 to improve your ROI today.
What Is Return on Investment?
The adage is true: a company needs to spend money to make money. However, blindly spending money to make money doesn’t work. It’s important to weigh the amount spent against the amount gained to know how well an investment influences revenue. Marketing ROI is the amount of revenue a company makes after marketing and investments. These investments might include Google ads, video content, print ads, marketing brochures, and investing in local events to promote your clinic. Learning to measure ROI is critical to business success, from client retention to shifting with behavioral health market trends. It can help businesses stay accountable, meet goals, and stay on track with competitors across the field. A healthy ROI can lead to patient and provider success by freeing capital and ensuring the “best fit” patients for your treatment program.
Understanding and Measuring Behavioral Health Marketing ROI
Behavioral healthcare often focuses on long-term marketing investments. Because treatment plans can last several months, long-term strategies for patient retention and patient services are critical to behavioral health ROI. When evaluating behavioral health ROI, it’s important to look at HIPPA-compliant data of actual patients to understand retention trends and which treatment options are providing the greatest return on investment. Like other healthcare sectors, behavioral health ROI also considers the accessibility of care for patient retention.
If your ROI is lower than you’d like, it’s important to begin by considering your marketing goals and online tools for brand awareness. Podcasts, videos, and online spaces can increase client conversion and brand awareness. However, you may not see client retention without streamlined software for billing, treatment, and communication between providers and clients.
Improve Your ROI with Sunwave Health
Before spending more money to make money, it’s important to identify weak spots across the treatment journey—from when a patient Googles “treatment center near me” to discharge. Is brand awareness creating patients you can’t keep? Are patients completing treatment? Or are your online tools accessible for patients and providers? If you’re not sure how to address the weak spots in your ROI, we can help.
At Sunwave Health, we understand every aspect of the behavioral health and substance abuse sectors, including improving ROI and financial health alongside patient success rates. Our behavioral health software provides clinicians with:
- Customer relationship management
- Electronic medical records
- Revenue cycle management
- Alumni management
The Sunwave platform manages every process from lead capture and admissions to collections. We focus on outcomes across the entire treatment journey. With infrastructure patients and providers can trust, we’re here to drive healthy results and increase providers’ ROI.
Learn More About Improving Your ROI With Sunwave Today
At Sunwave, our job is to save you money and help your patients complete treatment. If you’re ready to see how our software can improve your ROI, call us now at 561.576.6037 or fill out our online contact form to get started.