- September 20, 2021
- Posted by: PharmaScroll
- Category: Pharmaceutical, Social Media Listening
Hospitals, physician practices, and health systems are increasingly focused on improving the patient experience in today’s competitive scenario. When it comes to healthcare services, consumers have many options today. Healthcare facilities must take measures to attract and retain patients. One of the ways is through understanding the patient’s sentiments using a detailed Sentiment Analysis.
Sentiment Analysis has become a popular and informative research approach for the healthcare industry. Patients have opinions about their medical treatment and they perceive every interaction with a doctor or a hospital in a positive or negative way. Hence, understanding the sentiment of a patient at every interaction step is very important.
Image source: wellhealth.com
What is Sentiment Analysis?
Sentiment Analysis is a process of collecting data to understand a patient’s emotions, opinions and attitudes based on what they say about certain things. The sentiment can be neutral, negative, or positive, which can be reflected in the emotions and feelings such as sadness, happiness, anger, etc., or intentions such as being interested or not interested.
Importance of Sentiment Analysis
Sentiment analysis enables healthcare providers to understand what patients feel about them and to overcome the communication gap between facilities and patients, hence improving the patient experience and business outcomes on a broader scale.
The benefits of patient sentiment analysis include:
- Provides in-depth insights on patient needs: Sentiment analysis can help the healthcare industry to identify the areas where they fail to deliver on or satisfy patient needs.
- Identify gaps in the Value Chain: Conducting sentiment analysis of stakeholders and patients at different stages of the value chain can help identify inefficiencies at different stages. Removing such inefficiencies can improve the overall patient experience in a large way.
- Quantifying staff and employee performance: Sentiment analysis can quantify the emotions and feelings of patients to get a clear image of the staff and the facility’s performance. This can further help in filling up internal performance gaps as well as further motivate the employees, who are already performing well, based on the feedback received
- Sentiment analysis can assist healthcare providers obtain a competitive advantage over their competitors by allowing them to improve their services based on customer feedback.
Hence, it can be safely said that sentiment analysis is important to understand in depth patient insights at different stages of Pharmaceutical Value Chain, which can further assist the Healthcare organizations to understand if the patients relate to them. This can further ensure that the inefficiencies and gaps are filled up and timely action is taken.
Image source: marketmotive.com
How can Sentiment Analysis be captured through Social Media Listening?
Image source: biospectrumindia.com
With social media’s increasing influence, more businesses are investing in advanced AI data technology and utilizing innovative social media research to get client feedback. The Pharmaceutical industry can capture Sentiment analysis using Social Media Listening tools like SocialBI. This platform uses advanced and innovative AI algorithms to collect massive amounts of structured and unstructured data from various social media networks and patient forums to generate relevant insights. SocialBI captures patient sentiment analysis for a particular disease indication of interest.
Social Listening tools such as SocialBI mine and analyze millions of conversations to understand patient sentiment at multiple stages, that can have potential applications as mentioned:
- Disease and Treatment perceptions: SocialBI captures patient sentiment at the disease level and the treatment level, and hence can assist the pharmaceutical firms understand the positive, negative and neutral sentiments around their drugs versus the competition.
- Access and Pricing related sentiment: Social Listening tools such as SocialBI also analyze patient sentiments around access and pricing related challenges related to the treatment and disease in general. This can further assist the pharmaceutical firms capture any access related gaps.
- Pharmacovigilance: Social Listening can assist the firms in identifying key adverse events, patients are talking about and sentiments and emotions around every adverse event.
- Concept testing and Campaign monitoring: Social Listening tools such as SocialBI can be utilized to test an idea and monitor the response of patients around that idea or the product, by monitoring their sentiments. The response to various online and offline patient campaigns can also be monitored using sentiment analysis through SocialBI.
Hence, sentiment analysis can be utilized for analyzing opinions and feedback to improve healthcare facilities and patient’s experience across multiple stages of patient journey. Sentiment analysis in healthcare is still in its early stages. However, it is gaining popularity and importance and Social Media Listening tools such as SocialBI will play an imperative role in the faster and efficient adoption of this analysis.