Healthcare consumerism is starting to look a lot like retail. Now start engaging with patients even before their first date.
Consumers read restaurant reviews on sites like Yelp or Tripadvisor before dining out, and patients do the same when choosing care. It’s no longer just whether the provider is in their insurance network and close to their home.According to the most recent Learn from Press Ganeyratings and reviews are the top factors when a patient makes an appointment.
We’ve moved beyond the point where technology has become a Band-Aid for practice through the pandemic. Healthcare modernization is the way of the future.US digital health startups $29.1 billion in financing in 2021, nearly doubled from $14.9 billion in 2020. Investing in the right digital tools can help practices attract new business, get paid faster and provide better patient care. Let’s take a deeper look at how this is possible and the benefits your practice can see from adopting these tools.
Front-end communication can reduce the burden on the back-end
The latest hot topic is about the “digital front door.” This phrase may mean slightly different for everyone you ask, but it includes using technology to communicate with your patients at the very beginning of the care journey.
Essentially, before a patient arrives at your clinic’s physical front door, they’re already interacting digitally. Often, discussions about digital front doors focus on appointments or intake. It could even be extended to text or email reminders asking patients to confirm their appointments. That means administrators don’t have to make those reminder calls or manage paperwork when patients fill out registration forms in the office. Patients also benefit from a simplified experience and don’t have to waste time in the waiting room.
Plus, a digital front door can save time at the end of an appointment. Patients can make secure payments on their phones or computers, just as they used to do in retail stores. Such digital portals make payments easy for patients and administrators, who may have to send bills in the mail and wait for a written response, delaying payment capture.
according to A recent study by Bank of America44% of patients surveyed said they pay their medical bills faster when they receive a digital or phone notification about a bill, and 49% pay by text message, if at all.
blueprint to start
Online payment portals are the best place to start when you want to modernize your practice and create a more connected experience for your patients. Many practices find the best ROI from digital payment capabilities, as these tools enable faster payments in the way patients expect.
The next step in the adoption journey is digital communications. Text or email reminders to pay bills to patients can further improve your cash flow and revenue cycle. Using these communication methods can also ease the burden of following up, calling labels, and managing mail-in payments that stress your executives.this SMS response rate increased by 209% than a phone call.
Once you’ve processed digital payments and communications, it’s time to use the card on file to process automated payments. Patients who keep their cards on file don’t have to worry about swiping their cards every time they enter the office to settle a copay. A secure, automated payment plan system also allows patients to get the care they need and pay over time. Plus, it saves your managers time compared to using manual spreadsheets.
Patients are more likely to receive the care they need if a payment plan is available. According to the Kaiser Family Foundation“Half of U.S. adults say they have delayed or skipped some kind of health care or dental care in the past year because of cost.”
Implementation doesn’t have to be intimidating
We’ve covered a lot, and it’s unreasonable to expect a practice to adopt everything overnight, especially if the practice hasn’t gone too far down the digital road. But implementing these digital tools is often not as difficult as practice might think. Find the right partners to work with your administrators who are most likely to set up and use these tools on a daily basis.
According to a survey by PYMNTS.com, 35% of millennials and younger patients would be willing to switch healthcare providers for better digital management tools. There are strong business motives for making these investments, but the icing on the cake is that healthcare consumerism benefits both parties. In addition to improving care for patients who want a more connected experience, digital tools can improve operational efficiency and increase revenue for your practice.
Photo: designer491, Getty Images
