Predictive Insights - PowerPoint Presentation

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Predictive InsightsThe Next Evolution in Healthcare Research

June 5, 2014Slide2

Today’s PresentersLinda RebrovickChief Executive OfficerConsensus PointRobin RoseVP, Strategic InitiativesHealthStream

©2014 Consensus Point Inc. Confidential

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AgendaAbout Consensus Point and HealthStreamWhat can we learn from research practices outside the healthcare industry?How does a Predictive Insights study work?Questions?Slide4

HealthStream’s

Consumer Experience

HealthStream has worked with more than 200 healthcare organizations in the past 2 years to assess community needs and market positioning

Some clients include…Slide5

Time to InnovateLower phone response ratesHarder to reach younger consumersCost prohibitiveSlow turnaroundBetter support needed for decision-makingUnchanged over past 25 years©2014 Consensus Point Inc. Confidential

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Consensus Point: A Market Leader in Prediction Market Research“Predictive Insights”

Communities

Research

Engagement

+

+

=

Proven

Science

Efficient &

Accurate

Cloud-based

SaaSSlide7

Prediction Market Case StudiesTest concepts for the development of a new line of women’s deodorant for one of the largest CPG companiesCompleted study and saved 45% of research costReduced their research timeline from 18 weeks to 6 weeks First 3 months of sales are over forecast

Reduce the time from ideation to implementation by prioritizing the best ideas

Time

to market improved from 180 days to 80 days

Enhanced employee engagement through collaborative and prediction market techniques

One of the leading financial services companies needed to prioritize credit card features to motivate consumers to

switch

Discovered

niche market of high-spend/high-wealth credit card users

Rolled out new marketing through a differentiated campaign

Customer

Challenge

ResultsSlide8

Predictive Insights captures the wisdom of the community to uncover forward-looking outcomes for better business decision making.What is “Predictive Insights?”Slide9

A Different PerspectiveME vs. WE researchWho will you vote for? vs.Who will win the election?©2014 Consensus Point Inc. Confidential

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A Focus on the FutureHave you visited a clinic located in a drug store or grocery store for routine medical care in the past 12 months? vs.Will people in this community use a drug store or grocery store for routine medical care in the next 12 months?©2014 Consensus Point Inc. Confidential

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How does Predictive Insights work?

What is the Value?

Rapid

Turnaround

Diverse Community

Intensity of Response

Smaller Samples

Quantitative

Qualitative

Innovative

Research

Research

GamificationSlide12

Applications of Predictive InsightsImage and perception studiesBranding / namingProduct development / feedbackEmergency Department deep divesCommunity health needs assessmentAny application where consumer feedback would be beneficial©2014 Consensus Point Inc. Confidential

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© 2014 Consensus Point Inc. Confidential. Prediction Market Research Case Study: Communispace

Source: Outcomes, not intentions

;

Quirks

, May 2013

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Select your answerInvest your confidenceTell us why

How a Predictive Insights Study WorksSlide15

Step 1: Answer the QuestionWill people in this area prefer to use a primary care physician over a walk-in clinic for minor or routine medical care?

When you answer YES or NO below, you will then be asked to assign points to indicate your confidence in your answer.Slide16

Step 2: Invest Your Points Will people in this area prefer to use a primary care physician over a walk-in clinic for minor or routine medical care?Slide17

Step 3: Comment on Your Answer

Will people in this area prefer to use a primary care physician over a walk-in clinic for minor or routine medical care?Slide18

Most Recent Hospital Visited

Reason

Community Demographic

Gender

Age

Hospital Visit Within 2 Years

online

respondents

356

29%

71%

% of Visitors by Age

A

B

C

D

E

FSlide19

86

%

likelihood

Results Breakout

Theme

Prevalence

More convenient

47%

Saves

time

16%

Reasons for YES

-this is an awesome idea! I’ve been waiting years for someone to offer this

-I

hate waiting in line. This would be so much faster

-no

one else has this. I’d probably shop at this store more often just for the convenience

Reasons for NO

-I’m worried about the quality of the

care

-No

way! My doctor knows my health best

Commentary

57

%

43

%

Likelihood

% Probability

% of People

Breadth of response

Strength Meter

How strongly respondents felt about their answers

18-24

25-34

35-44

45-54

55-64

65+

Overall

Overall

Results by Demographic

negative

positive

41%

No

Yes

High

Low

High

Low

Average

Average

Male

Female

Most patients will go to a

retail store clinic

(such as a grocery or drug store) for their routine healthcare needs.

Said

“No”

Said

“Yes”

59%

0%

100%

Probable

Not

Probable

86

%

14%

Low

Average

High

Where Consumers Go for Routine HealthcareSlide20

PCP vs. Walk-in Clinic©2014 Consensus Point Inc. Confidential20Slide21

Outcome

Score

Patient website for easy access to all of their medical records

22.04

Improved billing transparency and accuracy of bills

32.01

Fifteen minute or less wait times at physician practices

21.2

Coordinating outpatient testing results quicker with providers

16.31

Upgraded hospital rooms and facilities

8.44

Billing transparency was identified as having the highest probability to improve the healthcare experience.

Which activity would best improve

the

healthcare experience?Slide22

Predictive Insights allows the use of pictures.Slide23

Predictive Insights allows the use of video.Slide24

Questions?©2014 Consensus Point Inc. Confidential24