Experience is everything. This rings most true in Healthcare, and industry where positive experience can sometimes mean life or death. Though hospitals and professionals in healthcare pride themselves in second-to-none experience for their patients, the same isn’t seen on the financial side. As patients are taking on a larger portion of their medical bills, it is important for healthcare providers to recognize this and better manage the financial relationships with their patients.
Each patient has a choice in who they seek for medical attention––they are a customer to the facility. Patients have unique financial obligations and it is crucial for healthcare providers to understand each patients’ background, work experience, and income, which allows providers to tailor a payment plan to each patient. Implementing better registration processes and educating and engaging the registration team is key to achieving patient satisfaction.
“By implementing a personalized approach to the patient financial experience, hospitals and health systems experience improved cash flow, profitability, operational efficiencies, and patient satisfaction,” Shelton said.
By utilizing technology that also works as an operation strategy, healthcare facilities are able to function more efficiently and provide better care for their patients. To learn more about PatientMatters’ solutions and how they’re trying to transform traditional patient access and on-boarding into a personalized patient financial experience, click here.
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