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Hospitals elevate patient satisfaction to the C-Suite

InformationWeek, March 25, 2014

As consumer satisfaction begins to have a bigger impact on the bottom line, more hospitals are hiring a chief patient experience officer (CXO) to treat patients like valued customers. Never has patient satisfaction been more important to healthcare organizations: the Hospital Consumer Assessment of Healthcare Providers and Systems Survey of consumer satisfaction, population health initiatives, and value-based purchasing all show that revenue now depends on patients' satisfaction with providers. The hospitals naming a top-level executive to design, oversee, and collaborate on patient-centric efforts expect to see a financial benefit, given that government and private payers are building patient satisfaction into reimbursement formulas and consumers are playing a larger role in making their own healthcare spending choices.