Patient Lifetime Value
This article will address a subset of Lifetime Customer Value – Lifetime Patient Value (LPV) – which measures the value that patients can bring to healthcare organizations, such as hospital and cancer treatment systems, that provide specialty and multi-specialty diagnostic and treatment services and products. Unlike the more transaction-oriented industries such as banking or retail, the specialty diagnostic and treatment segments of the healthcare industry are more event-driven and thus present some conceptual and calculation challenges in developing and applying this metric. However, this should not deter nor postpone the effort to understand the significant scale of value, and their component drivers, that can be achieved through thoughtful attention to the composition and exploitation of the many elements of Lifetime Patient Value.
