Choosing the Best Healthcare Market Research Company | MDRG

Choosing the Best Healthcare Market Research Company

Alexis Stoner

Marketing Coordinator

Choosing the correct market research company for your healthcare system can be daunting. A quick Google search pulls up hundreds of results, with each business promising to deliver useful results. The companies’ methodologies, case studies, and clients seem similar, making it more difficult to decide. However, selecting the wrong firm could cause wasted money or, worse, unusable results leading to poor business decisions. Choosing the correct healthcare marketing company will provide valuable and useful data findings that are unique and actionable to your business.

But, how do you narrow the search down to a small number of qualified companies?

The following is the top three tips to find the best healthcare marketing research company.

1. Relevant Experience

The healthcare industry is experiencing numerous disruptions from government regulations and reforms to innovative companies. Navigating and thriving in the industry requires specialty experience. A market research agency must have relevant background in the healthcare industry (bonus if the company has disruption industry experience). Ask about case studies and current or former healthcare clients to judge if their experience matches your desired study. If the marketing research firm has zero to little background in healthcare, it may not be a good match. It is essential to ensure that the chosen market research company has the skills to perform the necessary research.

A strong healthcare marketing research firm will have multiple years of experience with different clients. If you are a small client, then you want to ensure that they have not only worked with large healthcare systems and vice versa. Each client’s needs are different, and your chosen marketing research agency should capture that in their research approach and proposal.

2.Marketing Research Capabilities

When choosing a healthcare marketing research company, ensure they perform both qualitative and quantitative research. Some research firms may only specialize in one data collection technique. The ability to collect both types of research is especially important in healthcare. You may need qualitative research to explore a topic, then quantitative data to back up the findings like in this example.

A qualified company will state their research capabilities on their website or in their proposal. Ask questions if you feel uncertain. If they cannot provide a sufficient answer, then look elsewhere. A strong marketing research firm will be confident in their abilities and will not hesitate to provide more information or explain in different terms if needed.

3. Security

Protecting patient data is an increasing concern for healthcare professionals, especially in the wake of consumer data being stolen from well-known companies. A marketing research firm should have the precautions in place to protect any patient data. Ask any potential firms about their security procedures relating to patient information. Experienced healthcare marketing firms will protect confidential data, and may even be certified by an external company. If you do not feel the agency is trustworthy, do not use them.

In Summary

Choose a marketing research company specializing in healthcare research, protects and secures confidential information, and performs both qualitative and quantitative research. You should invest significant time to ensure you choose the correct healthcare market research firm for your business. This company should understand your businesses and goals – helping you perform better each year.