Top 2 Trends for OBGYN Practices to Prepare for in 2023 

By Chloe From Clearwave | February 6, 2023

Now is a great time to evaluate your practices strengths and weaknesses to determine areas of possible growth or improvement as we enter into a new year. Private equity investment, shifts in patient volume and more are current trends that are leading OBGYN practices to act and adjust course for 2023. Review the top two trends OGBYN’s are focused on and how they’re preparing to ensure revenue results in 2023.

1. The Digital-first Patient Experience Differentiator

Digital-first patient experiences will become the great differentiator between OBGYN specialty practices in the coming years. If your practice has not explored digital methods of patient communications and scheduling, now may be an excellent time. Millennials have officially passed baby boomers as the largest living adult generation in the nation, according to the US Census Bureau. This shift means millennials make up the largest OBGYN patient population. Millennials, as a whole, are typically  computer-savvy and known to be ultra reliant on technology as they have grown up with access to electronic devices such as smartphones, computers, laptops and tablets. 

Since the pandemic, people of all ages have adapted to a more digital driven society and experiences due to wider accessibility and less interaction. This shift extends to include even older generations like mid-lifers and seniors. OBGYN practices specifically are taking note of this change and looking to technology as a way to engage with their patients, make care more accessible and to meet them where they are, digitally.

Best Ways to Prepare Your Practice

The best way to prepare your practice is to keep up with the changes, meet the majority of your patients where they are. Whether you offer a comprehensive digital-first patient experience or not, evaluate how well it’s meeting your patient’s requirements. The digital-first patient experience should begin at patient acquisition and include patient communication and post-appointment financial support. These changes will assist your practice in meeting patient demand and setting themselves apart from other service providers.

It’s important to create a digital front door to attract patients. Today, the majority of patients (regardless of age) do their homework and research online before choosing and working with a clinic or doctor. According to a recent poll, 72% of customers “examine internet evaluations and reviews to consider scheduling with a new healthcare provider before making an appointment.” Although patient loyalty in the OBGYN speciality is usually high, there are many reasons why an OBGYN patient may look for a new doctor or practice. As patients move or begin to search for a new provider for other reasons, having digital-first patient touch points like self-scheduling can help you increase acquisition. Furthermore, OBGYN offices with an internet presence will be better able to draw in these new patients than their competitors.

Another way to prepare your practice is to offer digital self-service appointment scheduling. Once the patient has researched reviews and other things of interest to them and they decide on a doctor, their next step is to schedule their appointment. Nearly 89% of US adults state that “Ease of Access” is a major factor when choosing healthcare providers. Patients desire digital self-service scheduling options so they can quickly and easily book appointments at their convenience. You may also want to consider implementing a patient waitlist. A waitlist can also give patients flexibility when scheduling appointments, to ensure they can find a slot they need and you can fill even last-minute gaps in your schedule. 

Another way you can meet patients’ digital expectations is through a seamless payment process. Additionally, office visits and payment procedures need to be integrated into the digital experience. Patients desire the same ease of payment for their medical bills as they do for their gas or electricity. Nobody wants to get a bill and then have to either phone the finance department with their credit card details or mail a check. 

Patients expect the same level of technology-driven accessibility, personalization, speed, convenience, and efficiency in their interactions with healthcare providers as they do in all other facets of their daily lives. In light of this fact, OBGYN doctors must give patients a digital-first experience throughout the patient journey in order to satisfy their consumer-focused perspective.

2. Private Equity Investment Opportunities

The amount of funds available for investment in the private equity (PE) sector is astounding. Analysts are now keeping a careful eye on the healthcare sector in the next few months. Potential investors are particularly drawn to the OBGYN industry, thus there may be significant consolidation in the works. Now is the time to concentrate on supporting the health of the business, fostering new chances for development, protecting cash flow, and identifying areas for efficiency.

Best Ways to Prepare Your Practice

Simply put, one of the best ways to capture PE investment or stay independent is to drive, steady growth and healthy, efficient back-office operations. Accomplishing this growth will require automation. Successful patient acquisition and retention tactics will be fueled by a patient engagement technology platform that covers the whole patient experience, streamlining workflows, enhancing cash flows and lessening the administrative load. If properly carried out, these technologically driven activities will unlock your OBGYN practices’s growth potential.

There are numerous ways you can automate your business and make patient care easier for your practice, all while improving revenue streams. Clearwave’s automatic insurance eligibility verification can reduce the staff time spent determining eligibility and ensure you can collect accurate co-pays every time a patient checks in.

Automating patient communications like reminders, recalls and two-way texting can also help you to reallocate staff time to higher value tasks and reduce hiring costs. In addition, automating your schedule to update in real-time when patients can el or reschedule and adding an automated waitlist to fill those now-open time slots can also help your practice capitalize on every revenue opportunity – without staff having to lift a finger. Best yet, find a patient revenue platform that helps you automate these valuable actions and more – to take your practice to the next level.

Become a High Growth OBGYN Practice in 2023

There are many changes and challenges to come in 2023, let Clearwave help you navigate increase patient demand and meet revenue goals at the same time.. Clearwave’s comprehensive patient revenue platform can help revolutionize your practice and lay the foundation for scalable growth. . Want to prepare for other trends OBGYN practices are focused on? Download the full guide to see all 7 trends for 2023 and how to prepare!