Independent study shows how a healthcare organization can more efficiently identify patients who want to give back as thanks for exceptional care
CHARLESTON, S.C., Aug. 28, 2018 /PRNewswire/ —?Blackbaud BLKB, +1.26% today announced the results of a commissioned Total Economic Impact? (TEI)  study conducted by Forrester Consulting, which examines the return on investment that a healthcare organization may experience by deploying Blackbaud’s smart cloud fundraising and relationship management solution along with its wealth and asset screening solution. Forrester found that over a three-year period, a healthcare organization can achieve a 90 percent return on investment, increase the volume of grateful patient gifts raised by gift officers by 40 percent and increase the average size of grateful patient donations by 28 percent.
To evaluate the economic impact, Forrester took a comprehensive approach to its study, interviewing Blackbaud subject matter experts, Forrester analysts and a hospital foundation (Inova Health Foundation) currently using Blackbaud Raiser’s Edge NXT? and Grateful Patient Solution. Using the data, Forrester analysts constructed a financial model representative of the interview using its TEI methodology to identify the cost, benefit, flexibility and risk factors that affect the investment decision.
“For over 35 years, Blackbaud’s innovation, industry expertise and value-added services have helped healthcare organizations excel in fundraising and constituent relationship management,” said Page Bullington, president and general manager of Blackbaud Healthcare Solutions. “The ROI that Blackbaud Raiser’s Edge NXT and Grateful Patient Solution brings Inova goes further than its financial results. Our innovations allow Inova to learn more about its constituents and leverage the combination of better data and enhanced functionality to focus its fundraising efforts, ultimately increasing its efficiency and effectiveness.”
Inova Health Foundation (“Inova”), based in Falls Church, Va., is part of the Inova Health System, a large nonprofit health organization that employs over 17,000 staff throughout five hospitals, 25 assisted living and long-term care facilities, 26 primary care locations and a variety of other health-related services. Previously struggling to identify and target ideal donor prospects, Inova turned to Blackbaud to enhance the technology powering its research, direct mail and gift officer outreach.
Blackbaud Raiser’s Edge NXT and Grateful Patient Solution helped Inova identify grateful patient prospects with high giving potential. “It would be impossible to identify the right patients to talk to without Blackbaud because of the volume coming into our system every day,” said Paige Moses, associate vice president, Foundation Services at Inova Health Foundation. “We’ve been able to set up a process that can handle the volume of constituents Inova sees every day with a very lean staff. Before, we couldn’t get through this volume of constituents.”
After deploying Raiser’s Edge NXT with the Grateful Patient Solution, Inova experienced:
- Raised an additional $429,511 from grateful patients. Gift officers leveraged better data and technology to target prospects, increasing the number of gifts from grateful patients by 40 percent and the average gift value by 28 percent.
- Increased direct mail donations, raising an additional $142,300. Inova built highly-targeted direct mail efforts to grateful patients based on data from daily screenings and quarterly modeling.
- Saved more than $113,000 per year. By replacing legacy solutions and upgrading to the cloud solution, Inova has also been able to greatly improve its efficiencies and productivity.
- Recaptured $32,000 of increased foundation employee productivity annually. Foundation staff streamlined regular processes to save over 2,000 hours annually with Blackbaud’s solutions.
“Being able to establish a direct mail program that drove over 800 donors in one year versus a former program that only drove 78 donors in 2015 and 105 donors in 2016 is a huge win,” said Jeff Johnson, senior director of Inova Health Foundation.
Learn how Inova increased patient donations while improving productivity using the Blackbaud solutions by downloading the full study at https://hello.blackbaud.com/12227_Healthcare_Forrester_Report.html. Hosted by Blackbaud, join Inova Health Foundation and guest Forrester on September 19 at 2 p.m. ET to learn more about this report in webinar form.
Blackbaud (NASDAQ: BLKB) is the world’s leading cloud software company powering social good. Serving the entire social good community—nonprofits, foundations, companies, education institutions, healthcare organizations and individual change agents—Blackbaud connects and empowers organizations to increase their impact through cloud software, services, expertise, and data intelligence. The Blackbaud portfolio is tailored to the unique needs of vertical markets, with solutions for fundraising and CRM, marketing, advocacy, peer-to-peer fundraising, corporate social responsibility, school management, ticketing, grantmaking, financial management, payment processing, and analytics. Serving the industry for more than three decades, Blackbaud is headquartered in Charleston, South Carolina and has operations in the United States, Australia, Canada and the United Kingdom. For more information, visit?www.blackbaud.com.
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