GROWING AGAIN: INNOVARE ADDS 8TH & 9TH STATE

WAInnovare Medical Media (Innovare) has reached a partnership with 3 new hospitals: 2 in Washington State and 1 in Louisiana. These coast to coast strategic growth locations compliment Innovare’s current portfolio extremely well. Jim Carey, new business partner at Innovare, noted “It is very exciting to see hospitals continue to embrace our business model and seize on the opportunity to enhance their internal marketing and communication platform nationwide”. Innovare has plans to continue its year over year +100% growth into 2016.

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Innovare also continues to work with their Hospital partners to create innovative marketing and communication vehicles while strengthening the patient experience. Strategic patient experience deployments have been successful in many markets across the nation for Innovare’s Hospitals. The Innovare Showcase Program has been built to provide Hospital’s with a competitive edge in their geographic territory.

To find out more information about the Patient Experience Deployments in 2015 contact Innovare at 866.887.2207 or info@innovaremedia.com.

 

2015 PHYSICIAN TOTAL CASH COMPENSATION BY SPECIALTY

Written by Emily Rappleye | September 11, 2015

Primary care physicians this year are experiencing bigger increases in total cash compensation than their specialist peers, according to the 2015 “Physician Compensation and Productivity Survey” from Minneapolis-based Sullivan, Cotter and Associates.

Combined with other findings in the survey, this may suggest the trend toward value-based, coordinated care — which puts primary care physicians in the driver’s seat — could be starting to take hold. According to SullivanCotter, Primary care physicians saw a 3.4 percent median increase in total cash compensation between 2011 and 2015, compared to medical and surgical specialists, who saw 2.5 percent and 2.3 percent increases, respectively.

The table below breaks down median total cash compensation in 2015 by physician specialty and is ranked in order of highest to lowest percent change over last year, as presented by SullivanCotter. The information is based on data from 560 organizations and nearly 115,000 physicians and advanced practice clinicians.

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http://www.beckershospitalreview.com/compensation-issues/2015-physician-total-cash-compensation-by-specialty.html

BABY BOOMERS ARE OPENING THEIR WALLETS

Baby boomers are often portrayed in the popular press as a monolithic group of individuals who behave in roughly the same ways and possess the same attitudes. But do these observations hold for all boomers? Or are they emblematic of just some?
Recent Gallup analysis of boomers’ personal spending patterns suggests that these patterns vary more than stereotypes suggest. These differences matter most to marketers who hope that boomers are finally re-opening their wallets after the global financial crisis and will spend some of their discretionary income with their companies.

chart1

The global financial crisis hit baby boomers particularly hard. According to Gallup Daily tracking research, self-reported daily spending among Americans aged 50 to 64 years old (roughly the ages of the baby boomer cohort) reached a low of $55 in March 2009. About one year earlier (February 2008), daily spending in this group had been at $114. By last December, this cohort’s daily spending had rebounded to a five-year high of $105 per day. Nonetheless, the trend suggests that the daily spending among boomers has been increasing since bottoming out in 2009. But exactly what are they spending more on?

Gallup research conducted last spring revealed that while 45% of U.S. consumers reported that they were spending more than a year ago, their increased spending was on household essentials, including groceries, gasoline, utilities and healthcare rather than on discretionary purchases such as travel, dining out, leisure activities, consumer electronics and clothing. About four in 10 baby boomers (44%) in that same study reported that they were spending more than a year ago, and their increased spending followed the same pattern — more on things they need, not on things they want.

According to demographers, there are really two different cohorts of baby boomers. “Leading-edge” boomers were born between 1946 and 1955 and came of age during the tumultuous Vietnam War and Civil Rights eras. “Trailing-edge” boomers were born between 1956 and 1964 and came of age after Vietnam and the Watergate scandal.

In general, a higher proportion of leading-edge baby boomers report that they are spending more today than a year ago compared with trailing-edge boomers. Net spending change — defined as the percentage of consumers indicating that they are spending more today than a year ago minus the percentage saying they are spending less — is positive for leading-edge boomers but negative for trailing-edge boomers. This 23-percentage-point gap between the cohorts means that more leading-edge (older) boomers are spending more overall and more trailing-edge (younger) boomers are spending less.

chart2

For the full article click here.

HOSPITALS ADD NEARLY 18K JOBS IN OCTOBER

The healthcare industry added 44,900 jobs last month, contributing to the nation’s 271,000 new jobs in October, according to the most recent jobs report from the Bureau of Labor Statistics.

This is an increase from September’s numbers, when healthcare added 34,400 jobs. Over the past year, healthcare has added 495,000 jobs.

Within the healthcare industry, hospital employment grew by 17,800 jobs in October. However, ambulatory healthcare services added the most, with 26,900 jobs. Most of those came from physician offices (8,300) but outpatient care centers (1,700) and home healthcare services (8,100) also contributed.

Written by Kelly Gooch | November 06, 2015

http://www.beckershospitalreview.com/workforce-labor-management/hospitals-add-nearly-18k-jobs-in-october.html

Innovare Hiring this Summer!

Innovare Medical Media (Innovare), has plans to grow its sales team by bringing on 5 additional Outside Sales Consultants this summer (2015).

Innovare is experiencing three-consecutive years of doubling hospital partnership growth and is looking for marketing consultants to support this rapid progress.  Having hospital programs coast to coast, this opportunity may include traveling while developing a portfolio of clients.  Innovare has a growing team of 15+ individuals looking to develop a unique media platform in hospital settings across the country.

Innovare is encouraging candidates to apply: http://www.indeed.com/cmp/Innovare-Medical-Media/jobs/Inside-Sales-Account-Executive-51c2aa7ee88a630d

Print

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Baby Boomers Are Opening Their Wallets

Baby boomers are often portrayed in the popular press as a monolithic group of individuals who behave in roughly the same ways and possess the same attitudes. But do these observations hold for all boomers? Or are they emblematic of just some?

Recent Gallup analysis of boomers’ personal spending patterns suggests that these patterns vary more than stereotypes suggest. These differences matter most to marketers who hope that boomers are finally re-opening their wallets after the global financial crisis and will spend some of their discretionary income with their companies.

Graph for Baby Boomers

The global financial crisis hit baby boomers particularly hard. According to Gallup Daily tracking research, self-reported daily spending among Americans aged 50 to 64 years old (roughly the ages of the baby boomer cohort) reached a low of $55 in March 2009. About one year earlier (February 2008), daily spending in this group had been at $114. By last December, this cohort’s daily spending had rebounded to a five-year high of $105 per day. Nonetheless, the trend suggests that the daily spending among boomers has been increasing since bottoming out in 2009. But exactly what are they spending more on?

Gallup research conducted last spring revealed that while 45% of U.S. consumers reported that they were spending more than a year ago, their increased spending was on household essentials, including groceries, gasoline, utilities and healthcare rather than on discretionary purchases such as travel, dining out, leisure activities, consumer electronics and clothing. About four in 10 baby boomers (44%) in that same study reported that they were spending more than a year ago, and their increased spending followed the same pattern — more on things they need, not on things they want.

According to demographers, there are really two different cohorts of baby boomers. “Leading-edge” boomers were born between 1946 and 1955 and came of age during the tumultuous Vietnam War and Civil Rights eras. “Trailing-edge” boomers were born between 1956 and 1964 and came of age after Vietnam and the Watergate scandal.

Leading-Edge Boomers Spend More Than Trailing-Edge Boomers

In general, a higher proportion of leading-edge baby boomers report that they are spending more today than a year ago compared with trailing-edge boomers. Net spending change — defined as the percentage of consumers indicating that they are spending more today than a year ago minus the percentage saying they are spending less — is positive for leading-edge boomers but negative for trailing-edge boomers. This 23-percentage-point gap between the cohorts means that more leading-edge (older) boomers are spending more overall and more trailing-edge (younger) boomers are spending less.

Graph 2

For the full article click here.

Innovare Finds a New Home!

Larken Associates secures two leases in Branchburg (By Emily Bader, August 6, 2014 at 9:45 AM) –

Hillsborough-based Larken Associates, a residential and commercial project developer, has signed two leases at its Branchburg Commons medical and office complex.

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Innovare Medical Media, a designer of marketing tools for hospitals, has signed a five-year lease for 3,471 square feet of space.
Koo Chinese Academy, a Chinese language afterschool, has signed a three-year lease for 1,381 square feet.

Branchburg Commons, located at 3322 Route 22, is a 15-building medical and professional office complex.

“Innovare Medical Media and Koo Chinese Academy had very different space needs, but we were able to build out both units to suit each one’s business objectives,” Rob Marek, executive vice president for Larken’s commercial division, said in a statement. “We have companies using Branchburg Commons for their headquarters, medical offices and consumer service companies, and they are all very pleased with the location and amenities they can provide to their staff and customers.”

http://www.njbiz.com/apps/pbcs.dll/article?AID=/20140806/NJBIZ01/140809854/Larken-Associates-secures-two-leases-in-Branchburg&template=mobileart

How New Marketing Strategies Could Mean New Opportunities for Hospitals

Becker’s Hospital Review (Written by Bob Herman December 13, 2013) – Marketing and advertising have become routine for hospitals and health systems today. Competition is fierce, revenue dollars are prized and capturing the attention of a more cost-conscious patient has become paramount.

Beckers hospital-logo

But the traditional tactic has been hospitals go out into the community and spread their message through billboards, radio messages or TV commercials. Now, advertisements are starting to enter the hospital campus — and it’s presenting a new opportunity for both exposure and the bottom line.

Michael Ricciardi is a partner of strategy and business development at Innovare Medical Media. Innovare, founded in 2011, works with hospitals and health systems to build and operate marketing venues, which it calls “community showcase models,” at their sites.

“We install various signage throughout the hospital campus,” Mr. Ricciardi says, noting that parking garages, elevator banks and cafeterias are untapped assets at hospitals. “But the hospital partners have total control over the program and what it looks like.”

For example, earlier this April, St. Luke’s University Health Network in Bethlehem, Pa., partnered with Innovare to build electronic signage throughout the multihospital network. St. Luke’s incurred zero capital costs, meaning Innovare covered all expenses associated with hospital branding, digital technology, European-style displays and static signage. About 80 percent of all ads feature local services and businesses — such as banks and colleges — while the remaining 20 percent highlight St. Luke’s own services.

“Hospitals have hundreds of products they need to market but don’t have the budget,” Mr. Ricciardi says. “If they want to promote their top orthopedics group in the region, our program gives them a new vehicle to reach existing patients and potentially new patients that are visiting.”

Mr. Ricciardi says hospitals gain the new exposure on their own campuses, but they also earn a new line of revenue. Hospitals can generate anywhere from 20 to 35 percent of the revenue. For St. Luke’s, the system and Innovare are expected to share $2.4 million in revenue during the life of the multiyear contract.

Several other hospitals and health systems in the Atlantic area — including North Shore-LIJ Health System in Great Neck, N.Y., Winthrop-University Hospital in Mineola, N.Y., and Somerset Medical Center in Somerville, N.J. — have also partnered with Innovare.

“The feedback has been overwhelmingly positive, and we are growing rapidly,” Mr. Ricciardi says. “We are working with hospitals throughout the country with plans to have 100 hospital partners by 2018.”

Victoria Allen, vice president of marketing for Somerset, said the project has helped her hospital in several ways. “The displays not only gave us an opportunity to reach smaller businesses that we previously had no relationship with, but we were also able to promote our healthcare messages in key areas in a new and different way to a number of audiences,” she says. “Other added benefits have included beautifying hospital property, as well as providing our physicians with a new opportunity to promote their practices. Best of all, the displays have generated necessary income for our Somerset Medical Center Foundation.”

Although some worry advertisements may consume the sanctity of a community hospital, Mr. Ricciardi says the initiative is more about building new partnerships and increasing community involvement than a typical advertising program.

“We’re trying to leverage the opportunity of just how the world is changing,” Mr. Ricciardi says, noting that hospitals can only cut costs so much before they have to find new sources of revenue. “Initially when people hear about this program and think of commercialization, they ask, ‘What would that look like here?’ It’s not until they see the program do they get it and are more likely to embrace it. (http://www.beckershospitalreview.com/racs-/-icd-9-/-icd-10/how-new-marketing-strategies-could-mean-new-opportunities-for-hospitals.html#!)

Healthy Signs for Hospitals

Long Island Business News (Nov. 1-7, 2013 / VOL. 60 / NO. 47) – Posters pitching products are common in airport terminals, as are rotating signs selling services at the mall.

LIBN2

But advertisements inside hospitals?

Health-care facilities have historically adopted more somber tones, but many are changing that tune as advertisers warm up to hospital employees, patients and visitors, and facility managers recognize new revenue opportunities.

The fabled Mayo Clinic runs ads for myriad medications on its website, for instance, but no Long Island facility has yet embraced digital advertising or promos for particular drugs. There are still questions of appropriateness – and some lines local hospitals haven’t crossed.

“We can’t appear as if we’re endorsing specific medical products,” said Winthrop-University Hospital Vice President J. Edmund Keating, “because we’re not.”

But with advertisers expressing interest and hospitals hungry for revenue, companies like Summit, N.J.-based Innovare Medical Media – which has installed billboards and scrolling signs at several Long Island hospitals – are wading into the market, Innovare Partner Michael Ricciardi said.

It isn’t easy overcoming the notion that hospitals are places where the sick come to heal – or not – and therefore ill-suited to for-profit commercialization.

“Some hospitals are more aggressive and some are more reserved,” Ricciardi said. “Each hospital has its own entrepreneurial way.”

But Innovare is still finding plenty of Long Island business. The North Shore-Long Island Jewish Health System worked with the New Jersey marketing company to install fixed and alternating signage at North Shore University Hospital in Manhasset and Long Island Jewish Medical Center in New Hyde Park, while Mineola’s Winthrop has also installed Innovare signage in common areas including parking garages, cafeterias, elevators and waiting rooms.

saveAmong those pitching hospital audiences are several local institutions of higher education, including St. Joseph’s College and Adelphi and Long Island universities. Auto dealers such as Westbury’s Rallye BMW and Great Neck’s Beiner Audi also advertise in hospitals, as does the occasional assisted-living facility, including Sun Harbor Manor of Roslyn Heights.

“It’s a new opportunity to reach an outstanding demographic audience of health-care professionals and the community at large,” said Diane Moser, Adelphi’s executive director for marketing.

By aligning the Adelphi brand with regional hospitals, the university positions itself as a regional leader in health-related education – a worthy investment, Moser added.

But insiders like Winthrop Chief Operating Officer Garry Schwall are quick to note that revenues from advertisers like Adelphi aren’t the only benefits for the hospitals.

Schwall is happy to have the new source of revenue, he said, but hospitals can also use professional billboards and scrolling signs to deliver their own marketing messages.

“We were able to brighten up walkways and get some of our marketing messages up at the same time,” he said. “The revenue generation was a much less significant consideration.”

So Winthrop can promote specific cardiology or orthopedic services, for instance, along with impressive rankings from the likes of U.S. News and World Report. And when it does permit outside advertising, it’s careful not to concentrate too much on a particular industry, or to tip too far onto the for-profit side.

“I wanted balance,” Keating said. “I wanted a limited number of any one type of advertiser, including nursing homes. It was first-come, first-served, and after that, we said ‘it’s enough.’”

That’s not to say there isn’t profit to be had. Winthrop’s new advertising opportunities should produce $2 million in revenues during the next decade, Ricciardi said, with an unspecified percentage going to the hospital.

Advertisers see hospital crowds as “a good target audience – a high-value audience with a good household income,” Ricciardi noted.

And they’re willing to pay to reach that audience, even if many of the hospitals – while welcoming new revenue streams – aren’t out to make a killing.

North Shore-LIJ spokesman Terry Lynam said the system sells advertising opportunities primarily in spaces like parking garages, “the same way we sell ads in our publications and patient guides to cover the cost of production.”

And while being careful not to “overwhelm our patients” with blaring advertisements, facilities like those throughout the North Shore-LIJ system are also very selective about whom, exactly, can advertise on their grounds. Hospital A is not likely to run an ad promoting Hospital B, for instance.

“As much as we want the revenue to help offset some of our expenses,” Lynam noted, “we don’t want to steer customers to our competitors.”

Based on that natural selectivity and other sensitivity guidelines, there’s still plenty of advertising space to go around.

Innovare has been steadily adding hospitals to its mix since 2010, when its founders sold InterSpace Airport Advertising, which marketed in over 200 global airports, to Clear Channel Outdoor. Citing better demographics and a less-transient audience, Innovare has now installed signage in more than a dozen health-care facilities and plans to be in about 100 by 2018.

While more hospitals recognize the potential, Ricciardi agreed with Lynam that they’re going to be very careful about the clients they let advertise in their parking lots and waiting rooms. Innovare owns the signs, but the hospitals have final approval on advertisers and how their messages are delivered.

Ultimately, there’s a matter of decorum – and health-care facilities aren’t likely to run ads for tobacco or alcohol products or anything that might be considered in poor taste.

“It’s an opportunity for businesses to reach a good marketing demographic,” Ricciardi said. “But you’re not going to see ads for a funeral home or malpractice attorneys, and you won’t see retail advertising.”


http://libn.com/2013/11/01/healthy-signs-for-hospitals/

Written by: Claude Solnik
Published: November 1, 2013

St. Luke’s and Innovare Medical Media Launch In-Hospital Electronic Advertising Program

12996-Innovare-017eBethlehem, PA (9/24/2013) – St. Luke’s University Health Network has launched a new media partnership with Innovare Medical Media of Summit, NJ to establish an electronic signage advertising program at four hospitals within the Network.

“The new program launched in April 2013, featuring leading local and regional businesses in digital, large-format, edge- and back-lit signage that affordably reaches thousands of households and health care decision makers throughout the region,” said Ken Szydlow, Vice President of Marketing, St. Luke’s University Health Network.

Local Businesses Promote Services

Szydlow said, “The electronic signage is a brilliant marketing idea. Highly visible wall space is conducive to digital signage, which in turn, is utilized by local business to promote their services.”

Some of the local companies utilizing the advertising opportunities at St. Luke’s include Miller-Keystone Blood Center, National Penn Bank and Service Electric Cable TV, Inc.

“National Penn is pleased to partner with St. Luke’s on this effort,” said Pete Gray, President, National Penn’s Northern Region. “We would like to thank St. Luke’s and Innovare for creating another venue for reaching our audience.”

The new electronic advertising program has produced revenue for the network, added Szydlow. In addition to providing information about local services and businesses, twenty percent of all the displays will feature the many outstanding health care services of the St. Luke’s University Health Network, he said.

“Service Electric Cable TV is proud to be a supporter of St. Luke’s University Health Network and Innovare Medical Media and thank them for all they do for our Lehigh Valley community,” said Steve Salash, Marketing Director of Service Electric Cable TV, Inc.

First to Launch in Pennsylvania

12996-Innovare-002eHaving grown up in Allentown and a Lehigh University graduate, Nicholas Lieberman, Partner and Managing Director of Innovare, is thrilled with the very successful launch and St. Luke’s community participation. Lieberman said, “We are excited that St. Luke’s University Health Network is the first hospital system to launch our program in Pennsylvania. Having already launched our business at the largest not-for-profit health care system in the New York market, and additional hospitals in New Jersey and Ohio, we were ready to come home to Pennsylvania. The Latin word ‘Innovare’ means ‘to innovate,’ and we recognize that successful area businesses will see the exciting opportunities available with the Innovare program.”

These dynamic Innovare displays have enhanced the appearance of strategic, high traffic, public locations at each hospital, said Lieberman. St. Luke’s has also been able to leverage these locations to communicate more effectively with their many patients, visitors and employees, agreed Michael Ricciardi, Partner and New Business Director of Innovare.

“The St. Luke’s University Health Network is a critical economic engine in eastern Pennsylvania. Leading regional businesses have been very excited at the opportunity to participate in our program and align their message with the Health Network,” Ricciardi said. “The demographics of this audience make it a marketing home run for these companies and the exclusive Innovare model provides the opportunity to enhance overall patient and employee experience by transforming blank walls in less attractive environments into valuable showcases,” he added.

More about Innovare

Innovare launched its first hospital in 2011, and now has established ten new hospital programs. Over 35 years, the family that launched Innovare also created the successful airport niche media business Interspace Airport Advertising of Allentown, PA, which developed marketing opportunities in over 200 midsize airports on three continents. Ultimately this dramatic success led to the acquisition of Interspace by the world’s largest out of home marketing company, Clear Channel Outdoor (CCO).

More about St. Luke’s

St. Luke’s University Health Network is comprised of six hospitals and provides services at more than 150 sites, and includes home health, hospice services, the largest hospital-based EMS unit in PA and other related health care organizations. The Network employs more than 8,900 people as well as 400 physicians at more than 80 physician practices. Learn more.


http://www.slhn.org/en/News/2013/In-Hospital-Electronic-Advertising-Program-Launched.aspx

Contact

Denise Rader
Director, Media Relations
St. Luke’s University Health Network
484-526-4104
Denise.Rader@sluhn.org

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