Healthcare philanthropy is growing. According to Giving USA, donations to hospitals and healthcare organizations totalled over $40 billion in 2017. That’s the highest recorded giving level to date for healthcare organizations. Pretty impressive, right?
However, while the overall nonprofit community may be in a period of steady growth, the number of major gift donors has actually decreased. What does this mean for fundraising professionals? It means that fewer donors are giving but those who are, are giving more. Said another way, it’s not that the money is no longer available, it’s just that you have to be more strategic to find it. With this more complex philanthropic landscape, it’s important for nonprofits to work smarter to achieve their goals. This is where a grateful patient program comes into play.
To weather the shifting nonprofit industry, healthcare organizations are turning to grateful patient programs to help improve the livelihood of their fulfill their mission. Not only do grateful patient programs enable your organization to think and act strategically when identifying prospective donors, they allow you to make major gift asks with expert precision. That’s pretty cool!
Grateful patient programs are executed differently at each healthcare organization. Generally, they involve fundraising strategies and tactics such as personal visits from board members or fundraisers, newsletters delivering updates from the hospital, and perhaps most importantly, patient screening to enable development departments to identify grateful patients with capacity to give and then begin cultivation for a major gift.
Let’s focus on one important component of a successful grateful patient program – grateful patient screening. In case you need a quick refresher on patient screening; it’s the process of identifying potential donors within a pool of current or former patients or their families. Patient screening works by rating and segmenting patients according to propensity (or inclination) to give to charity, affinity (or linkage) to healthcare, and capacity (or ability) to give major gifts.
Effective and efficient patient screening helps you identify which patients fit your major gift donor profile while helping you establish positive relationships to encourage charitable donations. Once these individuals are identified, your development team can begin to cultivate those prospects into major gift donors.
As the nonprofit landscape continues to shift, it’s important to remember the tactics and strategies at your organization’s disposal. And just because the donor challenges your organization faces are complex, it doesn’t mean that your fundraising program won’t be successful. What it does mean however, is you need to think more strategically about your organization’s major gift activities.
To learn exactly how your healthcare organization can navigate the shifting landscape, download our ebook and start leveraging the power of a grateful patient program.