CHARLESTON, S.C., Aug. 28, 2018 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB) today announced the results of a commissioned Total Economic Impact™ (TEI)1 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.
Click to tweet: .@InovaHealth increased its volume of grateful patient gifts by 40% with @blackbaud's help - learn how! http://bit.ly/2wt0LYB
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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Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks related to our dividend policy and share repurchase program, including potential limitations on our ability to grow and the possibility that we might discontinue payment of dividends; risks relating to restrictions imposed by the credit facility; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organization; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
1 The Total Economic Impact™ Of Raiser's Edge NXT And Grateful Patient Solution, an August 2018 commissioned study conducted by Forrester Consulting on behalf of Blackbaud
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