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PaySpan was an innovative multi-payer adjudicated claims settlement service designed to enhance financial transactions in healthcare. By delivering electronic payments and detailed remittance advice, it catered to the unique preferences of providers. Users had the ability to maintain control over vital aspects of their financial management, including the selection of bank accounts, determination of file formats, and customization of accounting processes. This user-centric approach ensured a streamlined and efficient experience, significantly reducing administrative burdens and facilitating a smoother claims settlement process. PaySpan has recently been acquired by Zelis Payments.
THE CHALLENGE
PaySpan's Patient Financial Engagement (PFE) solution, a provider-based online software, allowed patients to pay their provider bill online. However, their marketing efforts hadn't provided the engagement PaySpan needed. Their previous email campaign focused on downloading an ebook with no additional call to action (CTA) and had been used for several years with no real updates to the design or content. While they might have been able to attract attention, PaySpan was struggling to generate quality leads that could convert to revenue. PaySpan reached out to HIVE in 2022 to solve this problem. The goal was to create a new marketing strategy to promote their PFE solution - one that generated quality leads that could be nurtured effectively toward conversion.
THE SOLUTION
To tackle PaySpan's challenges head-on, HIVE crafted a comprehensive email marketing campaign consisting of five strategically designed emails, underpinned by an intricate workflow. Key to this new strategy was the integration of fresh assets to captivate and educate the audience. PaySpan contributed to this effort by creating a detailed infographic, which served as a valuable educational tool within the campaign. Alongside this, new CTAs were added, guiding recipients towards additional resources such as insightful blog posts and the infographic.
Previous email campaigns cast a very wide net, reaching a large number of recipients by email and leading to a low ROI for leads. HIVE’s new email marketing campaign targeted recipients who more closely fit PaySpan’s buyer personas and who could more likely be nurtured toward a conversion.
THE RESULTS
150%
Click Rate Increase
37%
Click-Through Rate Increase
10%
Email Open Rate Increase
The email campaign HIVE implemented for PaySpan yielded impressive results, demonstrating a clear improvement in user engagement and interaction.
Open rate saw a remarkable increase of 10 percentage points. It went from a high of 15.8% in 2021 to a high of 25.51% in 2022. On average, the open rate increased from 14.58% in 2021 to 23.61% in 2022.
Click rate rose from a high of 0.22% in 2021 to a high of 0.55% in 2022. The average click rate nearly doubled, from 0.21% in 2021 to 0.4% in 2022.
Click-through rate increased from a high of 1.57% in 2021 to a high of 2.15% in 2022. On average, click-through rate for the campaign increased from 1.45% in 2021 to 1.67% in 2022.
Unsubscribe rate dropped from a low of 2,263 in 2021 to 633 in 2022, with the average rate decreasing from 2.7% in 2021 to 2.5% in 2022. This was a good indicator that, while the emails were distributed to fewer people, those recipients were more interested in the emails and more likely to be quality leads.
Extremely knowledgeable on best practices. I highly recommend them for any organizational sales/marketing initiatives.
Stephanie Imberman
Manager, Provider Sales
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