It happened again. On May 31, 2015, the United States Postal Service implemented yet another price increase, climbing 2% for the most common mail formats. If you’re mailing appointment reminders, wellness messages, balance due statements or any other type of communication – plan on adjusting your outreach budget accordingly.
Over the past 15 years, first class letter rates alone have increased a staggering 48%. In 2014, the USPS posted a net loss of $5.5 billion. All current indicators for 2015 point to a loss of $6.1 billion. Ouch. That leads us to one burning question: When will it stop?
Answer: It likely won’t.
As the USPS continues an uphill battle against declining mail volumes, mounting retiree health benefit costs and a flawed business model, off-loading costs to the consumer will continue for the foreseeable future.
Many practices are now beginning to re-examine their communication strategy. Incorporating automated outreach methods such as phone calls, texts and/or emails have proven to lower costs per communication as well as increase response rates. As a practice, it’s up to you to determine the most effective method to maximize your outreach efforts.
While the financial future of the USPS is dauntingly uncertain, there are three things we can count on: Death, taxes and USPS price increases.