Increase Grateful Patient Giving by Modeling Your Nightly Screenings

grateful patient program

Grateful patient giving has a little known secret that few healthcare organizations use: modeling. When you create a model of your past donors, you learn unique insights about the donor profile of your ideal grateful patient candidates.

You can then use your customized grateful patient giving model to score all future nightly screenings in a way that narrows your list of qualified prospects to the most likely donor candidates. This makes your grateful patient fundraising effort much more efficient while saving your team time and generating more revenue faster.

Grateful Patient Giving

Grateful patient giving has enabled health systems to raise $10 Billion according to the Journal of American Medicine. When a patient receives treatment and expresses immense gratitude, they may be a candidate for grateful patient fundraising. Past patients or patient families have a natural affinity for your hospital and are usually good prospects.

Your health system may have set up a nightly screening routine as part of your grateful patient fundraising program. Nightly screenings ensure that you continue to identify prospects when new patients come in.

These screenings also help keep your database up to date as customer net worth and lifestyle attributes change over time.

Grateful Patient Fundraising Using Screening

Regular screenings can serve as the foundation for your Grateful Patient Program. Nightly wealth screenings help ensure that you don’t miss any opportunities. They enable you to see a complete picture of a patient’s wealth, lifestyle and affinities.

For instance, WE Screen merges our proprietary wealth scores and ratings with your contact data. Now you know what we know about your contacts’ wealth, income, lifestyle, and affinity.

When you review and track data from your screenings regularly, you can act on it right away. For example, let’s say you had 10 new patients check in on a night. By the next day, you will already know which one of them is a candidate for grateful patient giving. You can ensure that you start to nurture the relationship right away.

One of our clients, a large American health system went from raising $19 million to $47 million in one fiscal year.

In fact, the VP of Philanthropy Services at this organization said, “…when a physician is referring a patient to us we can quickly get back to that physician to say that particular patient, that prospect now might have some capacity. Let’s figure out how to engage that person. With WealthEngine, with the ability of the gift officer to go directly to the website and receive these reports it reduces the time and it’s much more actionable for that gift officer in real time instead of waiting for the administrative staff to provide that report to them.”

A Grateful Patient Model Reveals Much More

Grateful patient screening is only the tip of the iceberg when it comes to grateful patient giving. Subsequently, you can extract actionable insights from your screening data. What if you could find prospects that look like your best donors? You can accomplish this by learning from past successes in your grateful patient program.

Our client, a healthcare foundation has said, “We see the value of maximizing the screening data to help us focus on building the right relationships and make targeted asks throughout the year. We have created a development strategy to make that happen and are eager to get started.”

For instance, you can upload your data from screening directly into WE Analyze. The solution finds patterns of traits among your patients.  These are traits that your top donors have in common.

For example, you could find that most grateful patient fundraising has come from patients who live in a 50-mile radius of the hospital. Further,  donations could have come from parents of young patients. These patterns can then be fed into a data model.

The model will divide your database into segments based on the likelihood of grateful patient giving.

Use Insights from Your Models to Predict Giving

Patterns that are fed into the model can help you find more prospects like your top donors. This means you now have a data-driven way to predict grateful patient fundraising.

With over 20 analytical models, WealthEngine can model your grateful patient screening data to identify the best prospects for major gifts, annual gifts, planned giving and much more. Models can also help you craft a capital campaign to raise money for a new wing, building or program. Models that use machine learning and artificial intelligence, like the ones WealthEngine creates, take the guesswork out of finding more grateful patients, retaining existing donors and growing their commitment.

Another WealthEngine client, a health system based in North Carolina used their screening data to create a model for their major annual fundraising event. As a result, event proceeds went from $400,000 to $7.4 million. A grateful patient model can make your efforts more targeted and increase donor lifetime value.

WE Insights: Get a Free Sample of a Model of Your Data

WealthEngine has a free service for clients in which they can get a sample model on actual data. Here’s an example of some of the insights you can learn:

average donor profile

More so, you can use your model to personalize your message to your prospective donors. WealthEngine’s models reveal detailed information about your past donors so you can see how well new prospects fit with the profile of past donors.

major gift donor profile

Contact WealthEngine about WE Insights to see a profile of your nightly screening files.

Score New Contacts with Your Model Using an API for Instant Results

Screening is the first step of your Grateful Patient Program. Analyzing and modeling your screening data allows you to prospect with high predictability.

Predictive prospecting creates a profile from your existing patients’ demographic, lifestyle and interest related attributes. This information generated by a predictive model, helps you identify your next best prospects. Predictive prospecting allows you to have a more targeted approach. This means that you reduce conversion costs while increasing efficiency.

You can increase the efficiency of grateful patient fundraising through API implementation. WealthEngine’s API can seamlessly integrate into your existing CRM and provide you updates in real-time.

Our client, a $6 Billion health system has said, “We built an integration with WealthEngine’s API. We have really got an automated process where our daily census can be screened, can be both matched and screened virtually automatically with very little intervention from us.”

Learn How to Model Your Screening Data

Learn more about how your nightly screening data could help you increase conversions and lower costs. Fill the form on the right and a WealthEngine rep will contact you very soon.

More ways to maximize your Grateful Patient Program

Grateful Patient Program Checklist

Healthcare Fundraising: Boost Grateful Patient Programs with the P2G Score

Grateful Patient Program Checklist

grateful patient program checklist

Grateful Patient Program Checklist

 

What separates an average grateful patient program from a successful grateful patient program? Aside from prioritizing gratitude, and combining your knowledge of grateful patients with wealth insights, it’s integral to follow these 6 steps in order to set up a successful grateful patient program:  

1. Engage Your C-Suite

Before setting up your program, it’s important to communicate openly with your CEO, CNO, and CMO. Outlining your intentions for the program will help your C-Suite determine which physicians will help you in your efforts.  During this time, they’ll also help introduce you to the doctors and nurses you’ll potentially be working with.

Remember: Fundraising is the process, not the product. These programs help fund labs, buy equipment, and much more.  By having your C-Suite share the benefits of the grateful patient program with your healthcare practitioners, providers will slowly but surely trust and understand your motivations, and will be more open to working with you.

2. Identify Which Physicians to Involve in Your Program

Once you’ve engaged your C-Suite, it’s time to start meeting your physicians. If you’ve got two gift officers, identify 20-30 clinicians. Then, you and your CEO can host an event to speak with the doctors and nurses you’ll be working with.

Transparency and connection are essential in establishing your program. Not only should you involve clinicians you believe will be helpful in your efforts, but it’s also imperative to forge authentic connections with them. Since clinicians have formed relationships with their patients, they know which patients are grateful for the treatment they’ve received. However, clinicians may feel that much more apprehensive sharing what they know. If you’re extrinsically motivated in your efforts, they will feel less inclined to help. Their patients come first. So, in these meetings, it’s important to openly involve them in the process, and ask them:

  • What’s the most comfortable way for you to identify a grateful patient?
  • What’s the most comfortable way you introduce the rehabilitation?
  • How do you want to be involved in this philanthropic process, that will be most comfortable for you?

 

3. Train Physicians

Training your physicians in philanthropic giving is another form of transparency that will transform the culture of your healthcare institution. Since clinicians are well-versed in medical practice, introducing them to uncharted territory can feel overwhelming. To alleviate their concerns, training clinicians can provide them with a greater understanding of how a grateful patient program works, their role within it, and your intent in establishing one. Clinicians are then able to forge their own relationship with the program and determine how they will approach it based on their comfort level.

4. Collaborate With Physicians to Identify Potential Benefactors

Once your physicians have been trained, and have familiarized themselves with the program, begin collaborating with them to determine who you can reach out to. By having physicians take the lead, they will be able to help you identify benefactors who are grateful for what they received and would be more inclined to give back to the hospital, and physicians, that treated them. This is where gratitude and wealth intersect. Engaging in this open dialogue with your physicians provides you with a specific list of potential donors, that can be distilled into an even smaller group of potential benefactors, using wealth insights.  

5. Use Wealth Insights to Segment and Patients Selected

Once you and your physician have determined which patients to reach out to, you can use automated data analytics to help you identify patients and relatives of patients who can be benefactors. Using wealth screenings, WealthEngine can show you each person’s propensity and capacity to donate. We can provide you with insights into the interests and prior giving history of your potential donors. This can also help you determine major gift prospects who can give support the bulk of your efforts, and who may support grateful patient programs established in the future. So, instead of reaching out to all of the patients your physicians had suggested, you can hone in on those who may feel the most willing to give.

 

6. Reach Out

The final step is to reach out! Now that you’ve been able to gain your physician’s consent, and have done your own research on each patient, it’s important to communicate with them about their ability to donate. Remember to communicate gratitude, and express how central gratitude has been in the formation of your program. You are not reaching out to former patients and their families to fundraise. You reach out to them because the care they received, with their help, can be felt by someone else in the future.

Successful Grateful Patient Programs – Steps to Get a 20x ROI in 3 Years

Successful grateful patient programs can generate 20x their cost within 3 years. That’s a stellar investment.

Follow these 4 steps to set up a group from your healthcare organization. Also, listen to our podcast with Chad Gobel, CEO of the Gobel Group. Chad is an industry expert on successful grateful patient programs and shares a complete step-by-step process. 

Continue reading “Successful Grateful Patient Programs – Steps to Get a 20x ROI in 3 Years”

Healthcare Fundraising: Boost Grateful Patient Programs with the P2G Score

p2g

Healthcare fundraising success often relies upon running efficient Grateful Patient Programs. Our Director of Enterprise Sales, Dawn Galasso, explains the key role of the P2G score in healthcare fundraising. Dawn often counsels WealthEngine clients and prospects in this sector on boosting their Grateful Patient Programs.

We interviewed Dawn to understand how Wealth Intelligence can empower healthcare fundraising. She recounted her experience with a large Midwestern Health System. This organization was already using wealth screening as a fundraising solution. However, the service failed to identify a significant number of patients in their system as capable of giving major gifts.

Continue reading “Healthcare Fundraising: Boost Grateful Patient Programs with the P2G Score”