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10 Key Data Points for Conclusive Network Comparisons

Posted by Laura McMullen on Fri, Jul 15, 2016

Critical Capabilities for Better Network Comparisons

ten_key_data_points.jpgProduct, sales and network teams’ needs are deeply intertwined — and success for each team relies on the ability to find the edge against competitor provider networks. When high-level comparisons suggest networks are the same or no advantage appears, that’s your cue to dig deeper.

Based on our work with more than 50 healthcare companies (and their aggregate 4,500 users), we offer 10 metrics that are critical for making more effective comparisons — which ultimately means designing better networks and selling more effectively against your competition.

The “Must Have” Capabilities for the Three Major Counting Methods

When you compare networks, how you count really matters. Different comparisons return different results, and are useful for different purposes. Selecting the right comparison method is key to your network development strategy, and to helping clients make better decisions.

In most cases, you’re counting by access points, unique providers and unique locations. Take a look at our whitepaper, How You Count Matters as Much as What You Count, for tips about choosing the right counting method for your analysis.  

10 Key Data Points You Must Have

Let’s add an overlay to the capabilities that drive the three effective counting methods — 10 metrics that must be pinpointed for your network development and sales efforts to make meaningful comparisons:

  1. Which network has more unique providers?
  2. Which network has more access points?
  3. How truly similar are the networks you compared? (In other words, how many providers are in both networks?)
  4. How many of each specialty category does each network have?
  5. Based on member demographics, which specialties are most important in this situation? Which network has more?
  6. How many providers in each network are within an X-mile radius of the locations where your group lives and works? Your radius might be smaller for urban ZIP codes and larger for rural ZIPs.
  7. How many locations/provider are in each network? When this ratio is high, directory inflation could be present.
  8. How many providers/location are in each network? When this ratio is high, large practice negotiations could disrupt the network.
  9. Has the network grown or shrunk overall during the last year or six months?
  10. What type of recruiting activity has there been recently? Adding new providers or replacing providers?

If you cannot decisively answer the 10 questions above, you may be missing key opportunities in network development or sales. You would not be alone in this regard: many competitive network data providers exist, but most provide cosmetic ease of use at the cost of more flexible and powerful reporting options.

If you find your teams hamstrung in their quest to make more effective comparisons — and ultimately drive more profitable activity at every level of your organization — click here and get in touch with us. We’ll talk about a better way to find and capitalize on critical points of difference.

Tags: compare networks, data analysis, provider networks, network comparisons, network development

 

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NetMinder delivers industry leading network comparison tools that make your sales force more effective and your recruiters more efficient. Network data is useful. NetMinder knowledge is powerful. Learn More About What We Do

 

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