Session
Title: Perfecting Patient Financial Experiences Using Self-Service Patient
Portal and Estimates
Presenters:
Terri Manifesto, Senior Director of Revenue Cycle at El Camino Hospital
Learning
Lab: Pre-Conference Financial Panel
Date/Time:
May 3, 2:45 p.m.
About the
learning lab
Healthcare has been slow to catch up to modern-day consumer
trends of transparent financial experiences. With patient payments now making
up a larger portion of their revenue, healthcare providers have to catch up.
Fortunately, with the right tools and technology, this process can be just as
streamlined and excellent as the care patients receive. Follow El Camino
Hospital's journey to becoming an industry leader in price transparency for
consumers using data and technology to implement a patient
portal that provides personalized estimates for 80+ procedures and empowers
patients to make informed healthcare decisions. This initiative has given
consumers the ability to obtain their own customized out-of-pocket
estimate instantly and on demand 24/7 from any digital or mobile device.
This session will explain how to implement a self-service,
patient-friendly price estimator tool that is tailored to each person’s
benefits, for high-volume, non-emergent shoppable services. Learn how to
provide staff training and education that ensures the adoption of estimates using
a desktop estimator tool, overcomes workflow barriers to ease staff burden of this
new process and streamlines the patient estimate process. Set benchmarks to determine
ROI and success rates — and learn about best practices for a marketing and
communications roll out.
Health systems that see the correlation between the patient’s
payment experience and their organization’s brand will ultimately be the ones
to succeed. Personalizing the financial experience for patients gives any
healthcare organization a more competitive edge. It also generates consumer
loyalty by offering a more enjoyable experience. Healthcare providers often go
to extraordinary measures to treat a patient uniquely. Billing-related issues
frequently muddle that positive experience. InstaMed’s 2016 “Trends in
Healthcare Payments” report estimated that 75 percent of healthcare consumers
admit to being confused by their medical bills. The bill is the final piece of
the personalization puzzle and is often the final opportunity to make a lasting
impression. Confusion around the bill can overshadow an otherwise excellent
patient experience and prevent patients from visiting again in the future. Driving
transparency and ease early in the billing process creates a better experience
overall, and it promotes loyalty to the brand and healthcare provider. These
tips can help successfully promote transparency.
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