Tapping into Patient Engagement to Sure Up Revenue Leakage in HealthCare

When patients don’t schedule a physician’s referred procedure or seek the same care from a competing healthcare system, that adds up to millions of dollars in annual lost revenue for a hospital system.

Why do 30% of patients never schedule these procedures or go elsewhere for care? And how can healthcare organizations solve this problem and recoup this revenue? It all comes down to patient engagement. And it’s doing the little things that make a difference, from helping patients understand the care recommendations, conducting the scheduling and financial counseling services for the patient, and scheduling them for the procedure.

Kevin Sleeper, Chief Growth Office at Abax Health, believes tapping into a better patient engagement system can stem lost revenues for healthcare networks, and provide increased patient satisfaction.

Kevin’s Thoughts

“Everybody knows that revenue leakage, referral leakage, patient leakage, whatever you want to call it, is an issue for every healthcare organization across the country. And you talk to people and, and they want to tackle it, but nobody’s quite sure how to solve it. Margins are at an all-time low, revenue’s down for most organizations, but more importantly, patient satisfaction, patient health is becoming an issue.

If patients aren’t seen for the care that they need. If they let these things linger, it becomes a much bigger issue and it becomes a more costly issue for organizations to deal with.

And the only way we’re gonna tackle it, is tackle it head on. It starts by identifying those patients that haven’t been seen and then focuses on patient engagement. And we can do a lot of things nowadays with technology, but patients get confused about the healthcare process. They wanna speak to somebody.

So, the patient engagement, the person on the other end of the line is incredibly important to make sure that they’re educated and understand why they need to come in. And we at Abax Health are really focused on identifying those patients.

We’re really creating a new category where instead of we’re looking at cost cutting or ways to reduce costs within a healthcare organization, we want to find that additional revenue that’s sitting on your quote unquote clinical books, uh, to help patients get seen in a timely basis.”

Follow us on social media for the latest updates in B2B!

Image

Latest

Gerald Hill
The Blessings of Being There: Insights from Gerald Hill
November 6, 2024

Join us on the Grand Dads podcast as we delve into the rich family life and multigenerational lessons of Gerald Hill, a great-grandfather whose life experiences offer invaluable insights into parenting and community engagement. From starting out as young parents in college to navigating careers and community responsibilities, Gerald and his wife have fostered…

Read More
ICN: Investing in the Future of the Global Nurse Workforce | Howard Catton | EP04
ICN: Investing in the Future of the Global Nurse Workforce
November 6, 2024

In the latest episode of Care Anywhere, host Lea Sims sits down with Howard Catton, CEO of the International Council of Nurses (ICN), to discuss the state of the global nursing workforce. As a respected figure in global nursing, Howard shares insights from ICN’s recent findings, addressing a projected global shortage of 13 million…

Read More
Waldo Waldman
Building Profitable Relationships: Leadership Lessons by Decorated Fighter Pilot Waldo Waldman
November 5, 2024

Keynote speaker and leadership expert Waldo Waldman is the author of the New York Times and Wall Street Journal bestseller Never Fly Solo. He teaches tactics on how to build trusting, revenue-producing relationships with employees, partners, and customers while sharing his experiences as a decorated fighter pilot and sales expert. A graduate of the…

Read More
How the use of K9's can change the Culture & Climate on Campuses
How the Use of K9’s Can Change the Culture & Climate on Campuses
November 5, 2024

On the latest episode of Secured, host Mike Matranga of M6 Global Defense welcomes Greg Guidice, President and CEO of Zebra K9, to discuss the critical role K9 units play in enhancing security and well-being across multiple sectors. Greg shares how Zebra K9 has evolved from primarily explosive detection to addressing emerging needs in…

Read More