Medical Assisting: An Emerging Opportunity for Growth. October 15, 2014

Transcription

1 Medical Assisting: An Emerging Opportunity for Growth October 15, 2014

2 Liz Dye Director of Marketing Analytics, Sparkroom Uses performance analysis & data-based decisions to optimize campaigns Experience with top brands in higher education Bob Atkins CEO, Gray Associates, Inc. Specializes in the education industry Develops industry-leading data on demand, competition, placement, and trends Co-Author of Gray s Report on Medical Assisting

3 Transparent, Analytics-Based Enrollment Marketing Solutions Sparkroom Marketing Services PPI Vendor Management PPC Enrollment Marketing Marketing SEO Social Media Targeted Display Sparkroom Marketing Software Performance-Based Automation Data Integration Reporting & Analytics Transparency Marketing Analytics Multi-Platform Mindset Compliance 3

4 Clients: Education Institutions and Investors Mission Help clients do well by doing good GrayData Demographics U.S. Census Completions IPEDS Employment BLS/O*NET Job Postings WANTED Analytics Placement Rates Gray Research Industry Inquiries GrayReports Students Locations Programs Strategy Demographic priorities Geo-priorities Market share City selection Location selection Relocation analysis Consolidation Advanced Analytics Predictive Models Geo-Analytics Program ideation and selection Feasibility studies R&D Market reports Business strategy and implementation Acquisition analysis Pricing Outcome improvement

5 What will you learn today? How health care trends will affect the demand for Medical Assistants How MA employment and completion trends are creating a growth opportunity How changes in MA competition will increase the opportunity What it will take for you to get a fair share of this opportunity Marketing requirements Placement practices

6 Healthcare Spending Healthcare spending is projected to grow 5.8% annually to $5.0 trillion in $6,000 National Health Expenditures Actual and Projected (Billions $) $5,000 $4,000 $3,000 $2,163 $2,298 $2,407 $2,501 $2,600 $2,701 $2,807 $2,915 $3,093 $3,273 $3,458 $3,660 $3,889 $4,142 $4,416 $4,702 $5,009 $2,000 $1,000 $ Source: CMS Research and Statistics, and-systems/statistics-trends-and- Reports/NationalHealthExpendData/downloads/proj2012.pdf

7 Summary of Healthcare Industry Trends Healthcare growth will increase demand for well-trained MAs. Increased Need for Health Care Changes in Health Care Delivery More and Increasingly Complex Medical Assisting Jobs Increased Access to Heath Care (ACA)

8 Implications for Medical Assisting Healthcare trends favor Medical Assistants. General increase in demand will require more MA work. Work is shifting to venues where MAs are prevalent. Work is moving to lower-level, lowercost practitioners, including MAs. Many wellness programs can use lower-skilled workers, including MAs. EPRs will increase demand for MAs with strong informatics skills. Regulation of MA work is relatively loose Opportunities are emerging for MA specialization

9 MA Employment Since 2011, MA employment has been rising. BLS employment increased over 2.5% annually. WANTED Analytics jobs postings rose over 10% annually. BLS Employment for MAs The Emerging Opportunity for Medical Assisting Education 650, , , , , ,000 BLS Employment 200, , , ,000 Job Postings 150, , , , , , ,000 75, , ,000 50,000 50,000 25, (est) Job Postings Sources: Bureau of Labor Statistics, WANTED Analytics, Gray Analysis

10 MA Completions: Declining Fast MA completions declined 25% in two years. Completions Index (2011=100) 110 Completion Trends (Associate s Degrees and Below) All Programs: -1% For-Profit Programs: -14% Medical Assisting: -25%

11 Market Size Despite declines, the MA market is still over $2.2 billion. $3.5 Estimated Market Size $ Billions $3.0 $2.90 $2.73 $2.5 $2.0 $1.79 $2.48 $0.53 $0.68 $0.86 $2.24 $0.67 Total $1.5 $0.39 Associate's Non-Degree $1.0 $0.5 $1.40 $1.96 $2.22 $1.88 $1.56 $ Source: Gray Associates, GrayData from IPEDS for CIP for all award levels and MA program website disclosures of tuition and other data.

12 The Opportunity Completions are dropping, while jobs are increasing creating an opportunity to fill an emerging employment gap. BLS Employment for MAs 650, , , , , , , , , , , ,000 50,000 - The Emerging Opportunity for Medical Assisting Education BLS Employment Job Postings Completions Placed Completions Growing Employment Opportunity (est) 250, , , , , , ,000 75,000 50,000 25,000 Job Postings, Completions, Placements for MAs Source: BLS, IPEDS, WANTED Analytics, Gray research and analysis

13 Jobs Per Completion There are an increasing number of jobs for MA grads. Employment and Job Postings Per Completion 8.0 Job Postings Per Completion BLS Employment Per Completion (Est) Source: BLS, WANTED Analytics, IPEDS and Gray analysis

14 Competition and Capacity Two of the top 10 MA providers are closing campuses. Institution A 2013 Medical Assisting Completions Top 10 Providers 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Institution B Institution C Institution D Institution E Institution F Institution G Institution H Institution I Institution J 1-Year Certificate 2-Year Diploma Associate's Degree Source: Gray Associates, GrayData from IPEDS for CIP for all award levels.

15 Quarterly Inquiry Volume, Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q2

16 Google search query volume for MA-related terms, Aug 2012 Jul

17 Sparkroom Campuses Offering MA and Average Inquiries/Campus Q1 2011Q2 2011Q3 2011Q4 2011Q1 2012Q2 2012Q3 2012Q4 2012Q1 2013Q2 2013Q3 2013Q4 2013Q1 2014Q2 2014Q Campuses Active Avg. Leads/Campus

18 Quarterly inquiry-to-application conversion rate, Q Q % 6.00% 5.00% 4.00% 3.79% 4.01% 4.71% 4.53% 5.53% 5.55% 5.83% 4.98% 5.54% 5.12% 5.46% 4.61% 5.09% 4.99% 3.00% 2.00% 1.00% 0.00% Q1 Q Q Q Q Q Q Q Q1 Q Q Q Q1 Q2

19 Third- vs first-party inquiry volume share % % 80.00% 60.00% 40.00% 20.00% 0.00% % Q % Q % Q % Q % Q % Q % Q % Q % Q % Q % Q % Q % Q % Q Third-Party First-Party

20 Branded school traffic by inquiry channel 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% % Q % 8.72% 1.80% 6.18% 1.37% 0.24% % Q % 8.00% 1.56% 6.47% 1.26% 0.05% % Q3 11 % Q % 0.62% 7.67% 6.05% 2.98% 4.88% 4.57% 3.33% 2.82% 6.35% 0.01% 0.11% % Q % 6.20% 4.60% 3.59% 6.28% 0.32% % Q % 6.75% 3.91% 3.27% 5.59% 0.34% % Q % 9.32% 3.52% 2.64% 5.21% 0.35% % Q % 12.47% 3.17% 2.37% 4.96% 0.60% % Q % 12.33% 2.59% 2.92% 4.07% 0.22% % Q % 11.98% 1.50% 2.84% 1.15% 0.27% % Q % 11.46% 1.39% 3.23% 0.92% 0.33% % Q % 9.91% 1.09% 3.38% 0.87% 0.20% % Q % 10.78% 1.01% 3.72% 0.72% 0.00% % Q % 10.46% 0.95% 3.76% 0.74% 0.02% Inbound Phone Internal Website Offline Media PPC Referral All Other Internal channels

21 Top Affiliate CPI/Performance Trends Average Quarterly CPI $- $10.00 $20.00 $30.00 $40.00 $50.00 Average Quarterly Conversion Rate 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q2 Top 10 Volume Affiliate CPI Top 10 Performing Affiliate CPI Top 10 Volume Affiliate Conversion Rate Top 10 Performing Affiliate Conversion Rate

22 Distribution of MA inquiries by state

23 Conversion rates by state,

24 Key Marketing Takeaways Medical Assisting program inquiry generation is curiously flat Healthy interest amongst prospective students Declining number of campuses offering MA programs Relatively stable inquiry-to-application conversion rates Strong job outlook

25 Placement: Current Results Median placement rates are dangerously low. 85% Medical Assisting Placement Rates 80% 75% 70% 65% 60% 75 th Percentile Median 25 th Percentile 55% 50% Campus Size: MA Completions Source: Gray Associates analysis of GrayData placement database based on institutional website disclosures of 2013 placement rates for 870 Medical Assisting programs.

26 Top-Performing MA Programs Top-performing schools achieve and sustain high MA placement rates They use best-practices to achieve these results Campus Location 2013 MA Completions New Orleans, LA 102 Milpitas, CA 155 Wyomissing, PA % 93% 92% 92% 89% 89% Tulsa, OK 102 Brooklyn, NY % 88% 86% 90% Levittown, NY 294 Long Island City, NY % 82% 85% 82% Anchorage, AK 517 Jackson, MI 138 Sanford, FL % 81% 85% 80% 80% 89% 50% 60% 70% 80% 90% 100% Placement Rate for Medical Assisting Source: Campus disclosures, Gray Research

27 Benefits of audience segmentation and profiling Understand larger demographic trends Identify common behavioral traits Locate pockets of target audience

28 Key Medical Assisting student segment profile attributes Average HH age: Strong index for female HH Average HH income: $36,000 Average % HH with children: 66% HH often has 2+ children Children are typically young (under 6) Average % HH homeowners: 19% Most HH are rented apartments or homes HH may have moved in past 12M % HH in low cost of living area: 76% Typically large/mid-sized suburban residents

29 Key segment education and employment attributes Education Current or previous part-time student May be firstgeneration college student Has at least some high school education Employment Employed part-time or temporarily unemployed No healthcare employment experience Household likely supported by multiple incomes

30 Sending the right message Support Change School will support student in achieving degree and attaining jobs so that student can in turn support his/her family MA program helps students change their employment opportunities/track MA academic and support faculty can help change student s employee persona Certified Accreditation information Certifications graduates will be eligible to achieve Flexible Personalized Scheduling that works for working adults

31 Media consumption and device usage amongst key MA segments TV and web browsing most commonly occur after peak hours (11 PM 5 AM) Print media focus on parenting-related content Pay-as-you-go wireless plans very common MetroPCS plans and Android phones popular within key groups Heavy social media use connecting with brands, other users on sites; enjoy sharing content and product reviews

32 Density of target demographic groups by media market

33 SCHOOL Reach prospects across all marketing channels Channel/Device Interplay SEO Affiliate Sites Paid Search TV, Radio, Print Display Social Media Requires consistent messaging & experience across channels STUDENT

34 SCHOOL Reach prospects across all marketing channels Channel/Device Interplay SEO Affiliate Sites Paid Search TV, Radio, Print Display Social Media Requires consistent messaging & experience across channels STUDENT

35 Building the MA-focused media plan Cross-channel reach 1. Branding Targeted display TV/radio Social media 2.Direct Response Mobile/desktop affiliates Pay-per-call Search Multiple response options 3.Re-engagement Re-targeting nurturing Messaging consistency and frequency

36 Steps to MA program success Understand student and job demand trends to help take advantage of both Implement best practice program strategies to help graduates succeed Reach the right prospects with a multi-channel, mobile-first marketing plan Seize the opportunity!

37 Thank you. Any questions? Contact: Liz Dye, Sparkroom Bob Atkins, Gray Associates