Past patients or patient families have a natural affinity for your hospital and are usually good prospects for fundraising. As you likely know, those who are solicited within 30-60 days of their hospital encounter are more likely to give than those who don’t receive a timely solicitation. It’s this combination of affinity and results that lead many hospitals and hospital foundations to develop a Grateful Patient Program (GPP).
Successful Grateful Patient Programs
Successful grateful patient programs can generate 20x their cost within 3 years. That’s a stellar return on investment.
Follow these 4 steps to set up program for 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.
What is a Grateful Patient Program?
A grateful patient program is a fundraising strategy that allows hospitals and other healthcare systems to recognize and recruit major gift prospects among their former patients.
What Do You Need to Create Successful Grateful Patient Programs?
To create successful grateful patient programs, it is important to understand gratitude and gratitude’s relationship with wealth. Gratitude (one’s desire to express thanks) can be shown in different ways. In successful grateful patient programs, gratitude can be expressed through philanthropic giving by former patients.
In the past, many healthcare institutions would contact wealthy individuals or people who knew wealthy individuals. These were considered to be the top prospects who could potentially give to their hospital. Some would respond to the requests, but many institutions and hospitals wouldn’t receive nearly as much as they’d planned for. Why? Because these potential donors had little to no connection in giving to their hospital. But, by reaching out to former patients, hospitals have been able to expand their pipeline.
Former patients, in that sense, have greater incentive to give to healthcare institutions or hospitals. If they had a positive experience receiving their treatment and were able to forge relationships with the clinicians who treated them, they may want to stay connected and support other patients in the future. Therefore, gratitude drives your decision to give, while wealth drives how much you’ll give. For example, you could be incredibly wealthy, but not grateful, so you give very little. By contrast, you could be incredibly grateful, but not wealthy, so you give as much as you possibly can.
You may be thinking: how can I find and communicate with former patients who want to say ‘thank you’ for the care and compassion they’ve received? Let’s explore the steps it takes to set up a grateful patient program.
Steps to Setting Up Successful Grateful Patient Programs
There are 4 key steps to set up successful grateful patient programs:
1. Engage Your C-Suite
When establishing your grateful patient program, it’s important to have a transparent channel of communication with your CEO, CNO, and CMO. They will champion your efforts, and they’ll help identify which doctors and nurses should be included in your program. Additionally, they’ll help initiate conversations between you and the clinicians you’ll be working with.
Not only is it crucial to involve clinicians in your efforts, but it’s important that you forge relationships with clinicians you work with. Clinicians are able to identify which of their patients are grateful. So, they have a keen understanding of who may have a greater propensity and capacity to give. However, since clinicians have formed relationships with their patients, they may feel apprehensive sharing won’t feel inclined to share information with you if you are extrinsically motivated in your efforts. They need to feel like they can trust you and your motivations.
2. Identify Which Doctors and Nurses Should be Part of Your Program
Once you engage and have the support of your C-Suite, you can begin identifying which doctors and nurses should be involved in your grateful patient program. If you’ve got two gift officers, identify 20-30 clinicians. Then, you and your CEO can host an event to speak with n the doctors and nurses you’ll be working with.
This gives you an opportunity to talk to them about how important their contributions are to your grateful patient program, and how important they are to the future. By consistently communicating with and empowering your clinicians, you’re showing them why their work matters, not only to you but to existing and future patients.
After the group session, it’s important to meet with each doctor and nurse individually. Openly involve them in the process during these meetings. Ask each clinician: 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 a way that in this philanthropic process lives as comfortable with you? This will help you create a foundation of trust between you and your clinicians.
3. Train Your Doctors and Nurses
By training your doctors and nurses in philanthropic giving, you can change the culture of your healthcare institution. Since clinicians work within the medical field, engaging in philanthropy will be unchartered territory for them. So, it’s important that they feel comfortable with how your grateful patient program works, and their role within it.
Training may change the way clinicians think about your intent. However, the exposure may not change their behaviors. Clinicians may not suddenly feel inclined to share information about their patients. So, it’s important to operationalize engagement so doctors and nurses can be more involved in the grateful patient process. If they are given information, but kept at a distance during the process, clinicians may not feel inclined to help because they’re still wary of how and what is needed from their patients.
4. Use Data to Know Identify Patients and Families Who Could be Benefactors
WealthEngine can help you craft a successful grateful patient program for your healthcare organization. Using automated data analytics, you can quickly identify patients and relatives of patients who can be benefactors.
We’ll show you their capacity to donate through wealth screening. More importantly, we’ll provide insights into their interests and prior giving history. This enables you to focus on the most promising individuals for your grateful patient program.
Set up a demo of WealthEngine’s powerful platform to create a successful grateful patient program for your institution.
Grateful Patient Programs
Healthcare fundraising success often relies upon running efficient Grateful Patient Programs. Our Director of Enterprise Sales, Dawn Galasso, 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.
Dawn found this to be a common thread with most Health Systems that she interacted with. It seemed that many patients screened daily returned low or no scores with respect to giving capacity. WealthEngine’s Propensity to Give or P2G Score is capable of looking at the same data set and recognizing more grateful patients who are not only capable of giving but also likely to give.
In this interview, Dawn talks about how the P2G Score is calculated and what makes it different from similar scores generated from other platforms. She also shares her insights on how healthcare fundraisers can take advantage of this score to find hidden gems in their Grateful Patient Programs.
For instance- Mary Anne Ericson, WellStar Health System says, “Your system helped us turn a $50 lapsed donor into $100,000 in less than 8 weeks.”
WE: What is the P2G Score?
Dawn Galasso (DG): Propensity to Give or P2G is WealthEngine’s proprietary philanthropy score. Uniquely, it is a reflection not only of a person’s capacity to give but also the propensity or likelihood of giving.
The P2G Score is actually a reflection of two different numbers. One derived statistically and the other a reflection of gift capacity based on assets.
WE: Could you tell us more about how the P2G Score is calculated?
DG: The score is a combination of two numbers. The first is a modeled score, derived from statistical data that we have collected over the course of our 20 years in the industry. The second is a reflective score that calculates capacity within a philanthropic or gift capacity range, based on assets.
For instance, the first number in the image is 2, this is a good predictor of major gift giving. The second number segments patients or prospects based on the range of their giving capacity.
The highest score is 1|0 which is a benchmark score. 1|1 indicates not only a high possibility of gift giving but also the possibility of a significant donation.
WE: What makes the P2G Score unique in the market?
DG: The P2G Score is unique because it uses the benchmark of 1|0 which does not require assets to flag someone as a prospect. This is a major differentiator for WealthEngine, as the score looks across a wider range of data predictors to identify quality matches of major gift givers.
In the instance of the Midwestern Health System, they had 3 prospects that they had screened and none of them had been identified as capable of major gift giving. After screening them through WealthEngine, we saw that in fact, all three were great prospects.
For instance, one of the prospects had become an oversight because they did not have property listed under their name. This is a classic case of under-valuing a prospect’s philanthropic potential due to over-dependence on assets as an indicator. We consider aspects such as affiliation with a family foundation, political giving of over $15,000, business ownership etc. to be indicators of giving.
WE: How do hospitals and Health Systems benefit from using the P2G Score?
DG: There is a major trend in the American economy where baby boomers are downsizing their real estate and/or transferring wealth to millennials. This means that solutions that rely solely on property ownership to identify prospects will overlook large sections of them during screening.
WealthEngine is poised to find and flag major donors despite downsizing as our score is calculated in a more holistic way.
Further, millennials have a very different idea of home ownership, they not believe in setting up massive homes like their predecessors. This means the P2G Score can also help healthcare fundraisers identify wealthy millennials as prospects.
WE: How can hospitals integrate the P2G score in their Grateful Patient Programs?
DG: Health Systems can use WealthEngine for Grateful Patient Programs as our solution will help them identify their next best prospects.
Most healthcare organizations may have GPPs set up, but they may find that they lack the bandwidth to run the program at its optimal capacity. Integrating the P2G Score into their existing CRMs will help them filter their top prospects who have the capacity and the propensity to give.
This will help fundraisers prioritize their resources, thus saving valuable time and help them maximize conversions.
WE: What are some use cases for the P2G Score?
DG: The Score is the appropriate solution for hospitals and Health Systems
- Who have lean fundraising teams
- Who have large and fast-growing databases
- Who are finding that their current wealth screenings are returning fewer or no leads – even when they know they prospect has the ability to give a large gift
- Who are interested in finding their top prospects to prioritize their fundraising efforts
- Who are interested in finding baby boomer and millennial prospects that are highly capable of giving and highly likely to give
Does this sound familiar to you as someone in healthcare fundraising? Contact us to learn more about how the P2G Score can elevate your Grateful Patient Programs.