5 Must-Haves in a Patient Financial Communication Platform

The following is a guest article by Steven Dubner, Vice President of Product Management at Nordis Technologies
No matter how exemplary the clinical care, overall patient experience and satisfaction often hinge on the last interactions with providers—billing and payments. But many patients are, in fact, unhappy with the current state: 49% of all adults and 74% of millennials would consider switching providers for a better payment experience, according to InstaMed’s 2021 annual consumer survey on healthcare payments.
To improve this critical financial experience, healthcare technology and revenue cycle leaders are digitally transforming their patient billing and payments with cloud-based customer communications management platforms. Omnichannel CCM technology gives providers and revenue cycle management firms the control and flexibility to cater to patient communications preferences, increasing financial engagement and lowering barriers to payment. For example, 51% of patients say they would pay their bills faster if they received a payment reminder text, according to Salucro’s 2023 Trends in Patient Payment Communications Report.
“Patient experience is everything, and that includes financial experience. If they get a bill and they don’t know why, they may forget about all the good things they experienced during care,” said Anne Goodwill Pritchett, MPA, FHFMA, Executive Vice President of Revenue Operations for Hackensack Meridian Health. “We believe caring for our...

Source: EMR and HIPAA - September 25, 2023 Category: Information Technology Authors: Guest Author Tags: Communication and Patient Experience Healthcare IT Revenue Cycle Management Anne Goodwill Pritchett CCM Hackensack Meridian Health Healthcare Costs InstaMed Nordis Technologies Patient Billing Patient Communication Patient Satisfacti Source Type: blogs