Predictive Insights
The Next Evolution in Healthcare Research
June 5, 2014
Today’s Presenters
Linda Rebrovick
Chief Executive Officer
Consensus Point
Robin Rose
VP, Strategic Initiatives
HealthStream
2
©2014 Consensus Point Inc. Confidential
Agenda
• About Consensus Point and HealthStream
• What can we learn from research practices outside
the healthcare industry?
• How does a Predictive Insights study work?
• Questions?
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…
Time to Innovate
•
•
•
•
•
•
Lower phone response rates
Harder to reach younger consumers
Cost prohibitive
Slow turnaround
Better support needed for decision-making
Unchanged over past 25 years
5
©2014 Consensus Point Inc. Confidential
Consensus Point: A Market Leader in
Prediction Market Research
Communities
+
Research
+
Engagement
“Predictive Insights”
Proven
Science
Efficient &
Accurate
Cloud-based
SaaS
=
Prediction Market Case Studies
•
•
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
•
Customer
Challenge
Results
•
Test concepts for the
development of a new
line of women’s
deodorant for one of the
largest CPG companies
•
One of the leading
financial services
companies needed to
prioritize credit card
features to motivate
consumers to switch
Completed study and
saved 45% of research
cost
Reduced their research
timeline from 18 weeks
to 6 weeks
First 3 months of sales
are over forecast
•
Discovered niche market
of high-spend/high-wealth
credit card users
Rolled out new marketing
through a differentiated
campaign
•
What is “Predictive Insights?”
Predictive Insights captures the wisdom of the community to
uncover forward-looking outcomes for better business
decision making.
A Different Perspective
ME vs. WE research
• Who will you vote for?
vs.
• Who will win the election?
9
©2014 Consensus Point Inc. Confidential
A Focus on the Future
• Have 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?
10
©2014 Consensus Point Inc. Confidential
How does Predictive Insights work?
What is the Value?
• Rapid Turnaround
• Diverse Community
• Intensity of Response
• Smaller Samples
• Quantitative
• Qualitative
• Innovative
Research
Research
Gamification
Applications of Predictive Insights
•
•
•
•
•
•
Image and perception studies
Branding / naming
Product development / feedback
Emergency Department deep dives
Community health needs assessment
Any application where consumer feedback
would be beneficial
12
©2014 Consensus Point Inc. Confidential
Prediction Market Research Case Study:
Communispace
Source: Outcomes, not intentions;
Quirks, May 2013
13
© 2014 Consensus Point Inc. Confidential.
How a Predictive Insights Study Works
• Select your
answer
• Invest your
confidence
• Tell us why
Step 1: Answer the Question
Will 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.
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?
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?
Community Demographic
356
online
respondents
Hospital Visit Within 2 Years
No,
37.6%
Gender
Yes,
62.4%
29%
71%
Age
1%
18-24
6%
25-34
7%
8%
16%
2%
12%
14%
4%
45-54
13%
15%
6%
55-64
14%
20%
35-44
65+
7%
8%
15%
A
B
C
D
E
F
% of Visitors by Age
Reason
Routine
12%
24%
Most Recent Hospital Visited
Urgent
20%
Emergency
68%
Where Consumers Go for Routine Healthcare
86%
Most patients will go to a retail store clinic (such
as a grocery or drug store) for their routine
healthcare needs.
likelihood
Results Breakout
Low
% Probability
Not Probable
% of People
Breadth of
response
0%
Said
“No”
Average
Prevalence
47%
16%
High
100%
14%
41%
43%
Theme
More convenient
Saves time
86%
Probable
Likelihood
Commentary
59%
Average
Said
“Yes”
57%
Average
Strength Meter
How strongly
respondents felt about
their answers
Reasons for YES
Low
High
No
Low
Yes
High
Results by Demographic
18-24
25-34
35-44
45-54
55-64
65+
Overall
-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
Female
Reasons for NO
Male
-I’m worried about the quality of the care
-No way! My doctor knows my health best
Overall
negative
positive
9
PCP vs.
Walk-in
Clinic
20
©2014 Consensus Point Inc. Confidential
Which activity would best improve
the healthcare experience?
Outcome
Patient website for easy access to all of
their medical records
Improved billing transparency and
accuracy of bills
Fifteen minute or less wait times at
physician practices
Coordinating outpatient testing results
quicker with providers
Upgraded hospital rooms and facilities
Score
22.04
32.01
21.2
16.31
8.44
Billing transparency was identified as having the highest
probability to improve the healthcare experience.
Predictive
Insights
allows the
use of
pictures.
Predictive
Insights
allows the
use of
video.
QUESTIONS?
©2014 Consensus Point Inc. Confidential