Why Thought Leadership Matters In Healthcare

Why Thought Leadership Matters In Healthcare

by | Dec 22, 2021 | Blog

To be successful in business, you have to come up with a viable idea, develop it, bring it to market, and sell it to customers. That may be an oversimplified version of the formula but the basic principles are there: craft a product or service and then spend most of your time selling it far and wide.

As with so many things in healthcare, this process is more complicated than usual. Caring for patients is always the top priority but then there are also so many different stakeholders and revenue streams that muddle how a company should explore expansion.

Ultimately, healthcare executives are the guiding force that can bring an organization to the next level by embodying the mission statement, promoting value to the market, and winning over skeptics.

But in an era where the playing field is so flat, where new markets emerge only to experience a sudden rush of competitive saturation, companies have to stand out. The most obvious answer to an executive might be to rely on standard business strategies to address these challenges.

However, I would argue that the best way to differentiate yourself as a company and secure necessary industry credibility is to operate above the fray.Optics matter, so leaders must recognize that opportunities to interface with the media and stakeholders as a vendor-neutral voice of reason are an effective, proven way to better serve the business.

Casting yourself as an industry authority or subject matter expert pays dividends down the line because outsiders can look at you and realize you have more to say than simply reciting the same sales pitch over and over.

In the years I spent as a healthcare reporter, some of my most valuable contacts in the industry were accomplished executives that could speak to specific events or general trends in a vendor-neutral way.

Neither me nor my audience needed to know about how their RCM company was the best at streamlining the financial experience for patients or how their virtual care service was going to be the Holy Grail of care access. Quality journalists aren’t there to hand out superlatives or write puff pieces about executives and the companies that they run; rehashing a press release isn’t why reporters do what they do.

However, soliciting the opinions of healthcare’s movers and shakers never goes out of style. For example, if there’s a significant policy announcement affecting payers and I can get an insurance executive on the phone to talk about ramifications without reminding me that they were the first to offer certain benefits to members, then that’s a source I can reliably turn to again down the line.

Subtlety, rather than outright salesmanship, is the best way to position your organization for maximum opportunity.

Getting your name in print, on industry panels, or invited to deliver keynotes should always be the goal because then you build a natural rapport with the audiences you’re most seeking to connect with. Everybody wants what they say to have merit and thought leadership is the ideal exercise to make that happen.

Perhaps most importantly to note, you and your company don’t have to be the star of the story; you just have to be in the story.

Since the initial outbreak of COVID-19, healthcare innovation has enjoyed prime media coverage, the likes of which hadn’t been seen before. Whether it was telehealth, remote patient monitoring, or vaccine research, there were thousands of stories printed about fast-moving developments in an industry that has historically been averse to change.

In each of the stories that ran on television, in print media, or on podcasts, there were ample opportunities for leaders to chime in about the future of healthcare. Many participated, but I implore those who didn’t to reconsider their approach to promoting their brand.

If there’s an outlet or reporter asking to associate your name with a trending story or a noteworthy event, even one that likely will not give you the sole spotlight, you’re better off accepting that invitation because now you’re linked to it.

I know there’s a strong inclination to use any and every media appearance to preach the company’s gospel, but there’s an even stronger value in looking at the world from a 30,000-foot view. If you can step outside yourself and speak to topics that are not simply related to your company’s latest announcement, you will gain invaluable industry credibility and media contacts that will return to you without hesitation.

Thought leadership is not just a pie-in-the-sky buzzword for the most outgoing executives in healthcare, it’s a useful strategy to expand brand awareness that every leader and their communications teams should be pursuing if they haven’t done so already.

4 Tips From A Former Healthcare Reporter

4 Tips From A Former Healthcare Reporter

by | Oct 13, 2021 | Blog

Career changes are rarely easy, especially when you study a field throughout college and subsequently work in it following graduation.

In August, I left a respected healthcare trade journal after nearly four years and ‘crossed over to the dark side,’ as they say.

There were several professional motivations behind the move, but one that excited me about joining the world of public relations (PR) was that I had already worked with numerous agencies during my time on the editorial side.

As I’ve settled into my new role, I wanted to share four observations on the PR strategies that I found most effective while in my capacity as a journalist.

1. Understand who you’re pitching to

Every PR representative should take time to do their research on the journalists and outlets that they’re pitching.

In my time at the magazine, I primarily covered healthcare finance, policy, and revenue cycle, among a handful of other industry-related topics. Still, I received countless emails from aimless PR representatives pitching me everything from CBD oils to a historian for the band Aerosmith. (Yes, this actually happened.)

Even those that understood I covered the healthcare industry for an audience of payer and provider executives would occasionally float article ideas and interview opportunities that simply missed the mark.

If you’re looking to place a byline or secure earned media with an interview opportunity, make sure you know who you’re speaking with and why it’s worth their while. I always found myself most responsive to PR representatives who weren’t just looking for free publicity but could see down the field about how the interaction would lead to a greater result for both sides.

2. Get to the point (and have other options available)

The only thing worse than getting a random PR pitch that’s off-topic is being forced to read several paragraphs to find out it’s irrelevant.

Short, timely pitches are always winners. The pitch should tell me what the topic is, who can speak to it, and when they’re available.

Additionally, a pitch should offer flexibility for both the PR agency and the outlet. If you’re pitching a potential source as an expert on revenue cycle management but they can also speak to the price transparency regulations and the effects on provider organizations, mention that in your email.

You should be providing as many onramps as possible for a client to appear in a story.

3. Relay expectations to your client

Understandably, most clients probably don’t fully understand how the world of PR and media works. That’s fine, but you have to be the one who explains the dynamics at play so they’re not disappointed by outcomes that don’t match their expectations.

Not every interview is going on the front page of The New York Times, but every speaking engagement, written Q&A, or byline adds up to meaningful coverage.

Additionally, media training to refresh even the most charismatic leaders should be the standard. During interviews I conducted as a journalist, I learned quickly which PR contacts had adequately gone over their notes with my subjects ahead of time and which ones threw them headfirst into the fire.

Don’t leave your clients treading water; let them know what the opportunity is about, why they’re qualified to speak on the subject, and prepare them for any extraneous questions.

4. Create a conversation

Some of the most reliable PR contacts from my journalism days were people who didn’t just pitch me and disappear into the night.

They stuck around and actually engaged with me as normal people do. Whether this was sending the occasional email to see what stories I was working on, interacting with each other on social media, or reading my content, it kept them in my purview as I went about my job.

Additionally, whenever I had a story to write on a tight deadline, I knew I could reach out to these reliable PR contacts and get the appropriate sources on the line.

This doesn’t mean that you have to be chummy with every journalist you come across, (odds are they aren’t always going to chummy in response), but breaking down the at-times acrimonious barrier between church and state can be helpful.

I hope that these tips based on my understanding of how media outlets operate can provide the world of PR with some useful tips to be more effective in the work we do.