Choosing the Best Healthcare Market Research Company

  • QA

    Alexis Stoner

    Associate Analyst

Choosing the Best Healthcare Market Research Company

finance-industry

Choosing the correct market research company for your healthcare company can be daunting. A quick Google search pulls up hundreds of results, with each business promising to deliver better results than the last. When researching companies, the methodologies, case studies, and clients seem similar making it more difficult to decide. However, choosing the wrong firm could cause wasted money or, worse, unusable results leading to poor business decisions. The correct healthcare market agency 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 are the top three tips to find the best healthcare marketing research company.

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 (and it is a bonus if the agency 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 a 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.

Marketing Research Capabilities

When looking for a healthcare marketing research firm, ensure they perform both qualitative and quantitative research. Some research companies may only specialize in one data collection technique or the other. 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 unsure about how they will perform their research. If they cannot convince you of the value, 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.

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 firm specializing in healthcare research, protects and secures confidential information, and perform both qualitative and quantitative research. This company should understand your businesses and’ goals – helping you to perform better each year.

Topics:

Market Research

Qualitative

Quantitative

 

 

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