Savvy hospitals and health systems are trending towards the tenets of consumerism as they look to cultivate a more patient-centric approach. In the interest of the patient, healthcare organizations are steadily adopting more “retail-like” behaviors, including 24-hour scheduling and other services that operate around the clock.
A recent research study signals that consumer culture is firmly rooted in the future of healthcare. The study reports 40% of surveyed patients indicate their experience with a hospital’s billing department will directly impact whether they recommend that hospital to a friend. Moreover, patients who encounter a negative billing experience are five times more likely to complain about their experience to another patient.
Consequently, hospitals are shifting towards a consumer-driven approach to create a simpler, more pleasant patient experience that promotes not only enhanced patient solutions, but an overall lift in patient satisfaction and revenue generation. Historically, laborious medical billing systems have inundated patients with vast assortments of communications from various vendors used by providers at different stages of the revenue cycle. Managing several different points of contact and sending payments to disparate vendors is confusing, overwhelming, and time consuming for the patient.
On the other hand, addressing patients as consumers underscores their perspective and caters to their needs, helping to fashion a system that’s streamlined, efficient, and easy to understand. Successful patient balance management programs emphasize consolidated teams and deliver greater visibility into the patient’s financial journey. With modified patient access strategies, health systems can design programs to simplify complex information about medical care and associated fees.
A streamlined, patient-first approach will elevate patient satisfaction, driving positive word of mouth and strengthening public perception of a provider’s care. Hospitals can also reduce the number of inbound calls from confused patients, while shortening the length of time needed to address customer inquiries. This improved scenario will potentially free staff to focus on other responsibilities, decreasing the number of non-clinical touchpoints during a patient’s journey.
Moreover, unifying patient data will help you maintain a firm grip on your bottom line. With industry-leading healthcare eligibility and enrollment services, Savista can help your hospital or healthcare organization establish a truly patient-first strategy. In turn, your organization can experience timely and accurate patient collections, while significantly reducing bad debt. The benefits will speak for themselves; delight your patients and close billing loops faster with a sharp focus on consumerism.