The Cost of Healthcare Marketing Research: A Necessary Investment

Written by: The Marketech Group

Healthcare marketing research is inherently complex and resource-intensive for several reasons:

1. Regulatory Compliance: The healthcare industry is heavily regulated. Research must adhere to rigid guidelines and best practices which increase the cost due to the need for specialized knowledge and additional legal scrutiny (Kumar & Reinartz, 2018).
2. Expensive research participants: Physicians and medical administrators are valued, important, and expensive research participants. They are difficult to recruit because the total number of potential respondents (research universe) is much lower compared to consumer research, and they have very limited free time. At last, to fairly compensate them for their time and expertise, incentives are significantly higher than other types of respondents.
3. Specialized Expertise: Healthcare marketing research demands expertise in both medical and marketing fields. Professionals with such dual expertise command higher salaries, contributing to the overall expense (Ginter, Duncan, & Swayne, 2018).
4. Technological Requirements: Advanced technologies are often used to analyze large datasets and derive actionable insights. The acquisition and maintenance of such technologies represent significant investments (Fleming et al., 2019).

Opting for inexpensive marketing research can lead to several detrimental outcomes:

1. Inaccurate Data: Low-cost research often cuts corners, leading to inaccurate or incomplete data. This can result in misguided business decisions, which may harm the organization’s reputation and financial standing (Craig & Douglas, 2017).
2. Non-Compliance: Cheap research may overlook crucial regulatory requirements, potentially resulting in legal penalties and loss of trust among stakeholders (Kumar & Reinartz, 2018).
3. Poor Strategic Decisions: Inadequate research can fail to capture the nuances of patient and healthcare provider needs and market trends, leading to ineffective marketing strategies that do not resonate with the target audience (Ginter, Duncan, & Swayne, 2018).

One notable example of successful healthcare marketing research is the case of “Philips Radiology Staff in Focus”.

In 2019, TMTG partnered with Philips in a study of 254 radiology technologists (RTs) and imaging directors (IDs) across the US, France, Germany, and the UK. The research assessed job satisfaction, stressors, and communication challenges in their daily work.

The study found moderate job satisfaction among imaging staff, but significant stress due to workload pressures, especially in Germany, where 97% reported burnout.

• Automation was identified as a potential solution, with staff believing that nearly a quarter of their tasks could be automated.
• Communication with Ordering Physicians and inadequate patient information were also highlighted as key issues impacting efficiency and increasing stress.

This data enabled Philips to better understand the root causes of burnout among imaging professionals and guided their efforts to develop targeted solutions. By addressing communication gaps and exploring automation opportunities, Philips is now focusing on innovations that reduce stress and improve the overall work environment for radiology technologists.