Providing patients with greater physical and online convenience is a key to nonprofit hospitals increasing their market share and improving their credit strength, according to a recent report by Moody's Investors Service.
Accessibility is becoming a "crucial element" in healthcare choice, according to Moody's. To address the increasing importance of physical convenience and proximity, many nonprofit hospitals are expanding their geographic diversity in outpatient settings with satellite sites in urban areas.
The report also addressed online accessibility. Moody's noted the implementation of cost-effective, user-friendly technology is a credit positive for nonprofit hospitals due to the convenience a patient has to interact with their healthcare provider.
"While convenience, experience, and value will influence choices for highly price-sensitive patients, we expect the market impact will be most significant for simpler, lower-acuity services," said Moody's Vice President and Senior Credit Officer Kimberly Tuby, who authored the report.