How to Market Your Healthcare Business in 2024

If you run a healthcare business, you must do whatever you can to market it efficiently. But, marketing your healthcare business is different from marketing other types of businesses due to the unique nature of the market. Below are some of the differences that mean you must market your healthcare business differently:

market your healthcare business
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  • Regulatory environment: Healthcare is one of the most heavily regulated industries. There are strict rules regarding confidentiality, patient privacy, and communication, which are governed by laws like HIPAA in the United States. These regulations affect how patient data can be used for marketing and restrict the types of marketing activities that can be conducted. Add to this that the AMA (American Marketing Association) generally frowns on marketing to patients, and you may feel your hands are tied when it comes time to market your healthcare business.
  • Ethical considerations: Marketing in healthcare must navigate ethical considerations more delicately than other industries. When you market your healthcare business, it involves promoting services related to people’s health and well-being, which requires a higher standard of truthfulness and sensitivity in advertising. Misleading information can have serious consequences on patient health, drive lawsuits with high penalties, and damage your reputation more than in other industries. If a cleanser promises your bathtub will shine, then fails to deliver, you’re disappointed but not too surprised. When your doctor, pharmacy, or pharmaceutical company promises that drug will fix your problem, you’ll sue if they face a side effect when you didn’t explain every possible side effect to your satisfaction.
  • Complex decision-making process: Healthcare decisions are often more complex and involve multiple stakeholders such as patients, family members, insurance companies, and various healthcare providers. Even the government may get involved in the process since many medical treatments require approval after significant testing. This complexity requires a different approach to messaging and medium selection to ensure the information is accessible and understandable to all involved.
  • Emotional engagement: Health-related decisions are highly emotional. Effective healthcare marketing often needs to address fears, hopes, and relief concerning potentially life-altering conditions or treatments. This emotional component requires marketers to be more thoughtful and compassionate in their campaigns.
  • High consumer involvement: Patients today are more informed and involved in their healthcare decisions. They often research symptoms, treatments, and healthcare providers extensively before making decisions. Many patients “doctor shop” until they find one willing to perform as they believe correct. To meet these informational needs, marketing must be informative, credible, and easily accessible across various platforms. You also need to market your healthcare business with an eye toward ensuring your messaging fits with that shared by other companies, such as pharmaceutical companies and device manufacturers.
  • Trust and credibility: Trust is a critical component in healthcare. Marketing strategies must build and maintain trust by showcasing credentials, experience, success rates, and testimonials effectively without compromising privacy or appearing exploitative.
  • Service intangibility and variability: Unlike a product, a healthcare service is intangible and can vary significantly depending on the provider and patient circumstances. Marketing such services requires highlighting the benefits and outcomes rather than the service itself, often focusing on patient stories or provider expertise as evidence of quality.

    tips for success in healthcare
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If you don’t market your healthcare business considering these differences, you may find that you struggle to reach the performance of other companies in the same industry. If you want to help yourself, simply take a look below.

How to market your healthcare business

Expand and scale

One of the first things you need to do is expand and scale your business. Gone are the days when patients have to rely on word of mouth or even trust in their GP. Now, people are much more inclined to turn to the internet when they need a healthcare solution. In the comfort of their homes and offices, it’s easy for them to explore social media and forums when seeking the help they need.

According to studies, 77% of people begin their search for information regarding their condition on social media. If you run a healthcare business, you have to make sure that you are doing what you can to reach a wider audience across multiple channels. You also need to make sure that you have a robust online presence so you can attract prospective patients. From there, you can educate them and turn them into loyal customers for your brand.

Set yourself apart

Another thing you need to do is set yourself apart. Take note of the fact that competition is heating within the healthcare sector and if you do not stand out, then you end up being swallowed by everyone else. Effective healthcare marketing involves you reaching your customers and taking steps to prioritize marketing where you can. Remember that competition is heating within the healthcare sector, and if you do not stand out, you will be swallowed by everyone else. Effective healthcare marketing involves reaching your customers and taking steps to prioritize marketing where you can. Make sure that you are putting a major focus on healthcare marketing and that you are also doing what you can to increase your strategic advantage.

Another consideration is patient satisfaction. Not only do satisfied patients remain with your practice, but they also recommend you to their friends. Another side effect of a satisfied patient is that they’re more compliant with medical advice and more willing to work as a partner in their care. This results in better patient outcomes, which makes you, the healthcare business, look better. Some aspects to consider in promoting patient satisfaction are:

  • Reduced wait times
  • Spending adequate time with the patient
  • Addressing the patient by name and listening rather than typing as they explain the reason for their visit
  • Explaining the treatment plan in detail and providing patients with written notes regarding the plan
  • Accurate billing
  • Sharing patient results quickly and in the format preferred by the patient
healthcare marketing
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Know when to outsource

If you are working on a new vaccine trial or if you are trying to blaze a path by discovering a more efficient cure for something, then it could be worth outsourcing your efforts. Outsourcing to someone who is able to do the job better than you gives you more chances to focus on your core verticals. It may be that you go through a central laboratory if you are doing a trial, for example, as they can help you with clinical trial operations, safety testing, project management, and more. This can help you to get better results from your efforts so you can become a natural leader in healthcare. Trying to do everything yourself is the key to not getting tasks done to a high standard, and in the medical sector, this can result in you falling behind your competition.

One way to do this is to rely on others to provide the best service possible. If you haven’t done so yet, outsource to a central laboratory if you are conducting a trial so you can harness the data you need efficiently. This gives you more chance to focus on other things that may make a major difference, so keep that in mind.

Establish thought leadership

Establishing yourself as a thought leader is one of the best things you can do to attract new opportunities within the healthcare sector. You can advance your business and position yourself as an authority. This way, you can also stay ahead of the curve and make the most of your niche.

If you want to do this, you have to remember that you are not going to become a leader overnight. You have to be consistent with your PR efforts and showcase your brand as a trusted advisor. If you can do this while shaping people’s perspectives about what they see you as then this will help you to be the best business leader possible, so keep that in mind.

Conclusion

Marketing your healthcare business faces different challenges than marketing other types of businesses. In today’s post, we detailed why it’s different to market your healthcare business and how to do so effectively. Keep these in mind as you build your business, and you’ll reap the benefits.

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