Matthew Castel, assistant professor of supply chain management, and his co-authors have published a paper titled “A Model of Hospital Patient Engagement for Value Co‐Creation: Does It Affect Performance? A U.S. Hospital Industry Study” in the Journal of Operations Management.
The study examines how hospitals can enhance patient trust and improve financial outcomes by implementing hospital engagement systems. The research focuses on involving patients in their care through better communication, shared decision-making, and transparent processes. This approach is based on the concept of value co-creation, which suggests that healthcare results are better when providers and patients collaborate.
To support their theory, the authors analyzed national survey data along with hospital performance metrics. Their analysis found connections between engagement systems, patient experiences, and financial outcomes. According to the findings, providing high-quality experiences leads to benefits beyond just patient satisfaction. Patients are more likely to recommend the hospital, readmission rates decrease, and financial indicators such as return on assets and profit margins show improvement.
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