CONFIDENTIALITY NOTICE: This document contains confidential information intended solely for the recipient(s) named herein. The information set forth in this document may not be reproduced or disclosed by the recipient(s) without the prior written consent of the author.taylor.com/healthcare Industry Update Fall 2022 Managed Care & Payers
Recent
●
●
●
Over the past five years, direct mail advertising share of overall advertising expenditure has decreased, as digital
share of advertising
has
The print industry’s larger players that have the resources to provide high-quality
integrate with
advertising, and are able to overcome supply
benefit from current market
innovations in direct mail advertising technology, is keeping the industry releventant
Quick Response (QR) Codes
Direct Mail Triggers
Voice-activated Call to Action
media's
spending
grown
services,
digital
chain challenges
Industry Outlook DIRECT MAIL ADVERTISING - OCT 22 2
Most downstream clients contract industry operators for full direct mail service programs, which include ○ Concept development ○ graphic design ○ Lettershop services and printing Lettershop services are specifically designed to eliminate time-intensive aspects of managing mailings for clients. These services include: ○ data processing ○ letter assembly ○ poly wrapping ○ addressing and labeling Products & Services DIRECT MAIL ADVERTISING - OCT 22 3
Integrated Marketing
MAIL ADVERTISING
Unlike email, the limited number of items in the average consumer's physical mailbox means they are more likely to see direct mail advertisements. Furthermore, direct mail enables clients to target specific markets without having to conduct advanced market research.
Further integration with digital technologies has enabled industry operators to compete more closely with online marketers:
Direct Mail Triggering
Automatic targeted direct mail advertisements are sent when consumers trigger a certain event, such as leaving items in a shopping cart without completing a purchase.
Voice Activated Call to Action Technologies
connect direct mail to smart speaker interactions, creating a multimedia branding experience
Following advertising interest in the online realm, industry operators have integrated technologies such as QR codes onto printed materials. These are also beneficial in redirecting consumers who typically do not spend much time online to online stores. Moreover, advances in the physical characteristics of direct mail, such as the recently increasing use of metallic paints, increase their aesthetic appeal to consumers and improve their efficacy.
DIRECT
- OCT 22 4
Forthcoming Trends
MAIL
Some studies suggest that physical advertisements from direct mail have a more memorable effect on consumers than online advertisements, while others suggest direct mail has a higher average return on investment.
Start-ups such as Casper Sleep Inc. and Quip NYC Inc., in addition to tech companies, such as Google LLC, use direct mail marketing due to its effectiveness for company branding
DIRECT
ADVERTISING - OCT 22 5
Global Healthcare Advertising Market
The global healthcare advertising market size is expected to register a CAGR of 5.4% from 2022 to 2027 and be worth $49.5 billion by 2027 from $38.06 billion in 2022.
Establishing advertising and communication strategies to reach new patients and enhance patient care by creating an open contact line between doctors or healthcare organizations and their patient is referred to as healthcare advertising.
INDUSTRY UPDATE 6
Patient Communications Report 2022 TRENDS 7 of consumers prefer digital communications over traditional mail of patients would pay more quickly if their billing notification preferences were utilized value the ability to choose the communication channel the most of patients stated that they would consider switching providers due to a poor billing experience of providers haven’t adopted any new billing or communication methods in the last 12 months 56% 50% 42% 41% >60%
2021 Annual Medicaid MCO Survey
2021 Annual Medicaid MCO Survey
● 95% of plans are committed to transitioning to telehealth
● 85% expanded coverage to new services
● The ability to contact members and members’ willingness to engage were the top two barriers reported for high-risk care coordination across all survey years (reported by 100% and 90% respectively in 2020)
RESULTS 8
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