Patient financial engagement is more challenging than ever – and more critical. With patient self-pay as a percentage of revenue on the rise, providers have seen their billing-related costs and accounts receivable levels increase – a growing risk to the bottom line.
Improving patient self-pay results requires a communication strategy that fits the patient. This means meeting patients where they are—delivering the right message at the right place at the right time—for the purpose of collecting more, collecting quicker, and reducing the cost to collect.
Patient-centric communications should be driven by multiple profile dimensions, including patient balance, demographics and payment history. Dynamic messaging is applied across all patient touch points, from interactions in the customer service center to patient-friendly billing statements, online billing software, and patient mobile devices.
To be successful healthcare organizations must engage patients with communications that are tailored to their specific needs – delivered in their preferred channels. A patient-centric approach provides a better experience for patients, which ultimately drives satisfaction and loyalty.