By Noel Felipe, revenue cycle practice leader, Firstsource.
The pandemic has created a sense of urgency around improving patient engagement. Consumers accustomed to Amazon-like retail experiences are now embracing digital across personal transactions, including healthcare. Telehealth and remote monitoring have gained rapid traction, especially for non-emergent conditions and follow-up. At the same time, outpatient visits are rapidly outpacing inpatient. Together, these two trends are resulting in patients spending very little time at hospitals receiving care and paying bills.
With more care delivered through outpatient and virtual settings, healthcare leaders are asking: how do we effectively engage patients to optimize the patient financial experience and enhance recovery?
The answer lies in understanding shifting consumer expectations and designing a patient engagement solution that best fits their evolving needs.
What do modern consumers expect?
As robo calls continue to rise, Americans are using their smartphones to screen calls, making it harder for providers to connect with patients after service. Studies show that the chance of collecting goes down by 58% once patients leave the facility, as they are less motivated to pay once the services have been rendered. This means providers must begin the patient engagement process early in the revenue cycle at the pre-service stage and maintain high levels of engagement during and after service to improve their net revenue.
The good news is consumers increasingly prefer digital channels of communication that offer the flexibility to engage with providers outside traditional business hours and in the privacy of their homes. They also want to get things done quickly and easily. Whether they are shopping for a provider or checking their health insurance coverage, they want to get the information they need, when they need it – and they are willing to use self-service to achieve this.