How to Increase Patient Collections + Loyalty
For Americans, inflation and high deductibles mean patients are getting bigger bills, which causes both surprise and confusion. Often, patients don’t understand why they owe so much, or they aren’t able to meet their financial responsibility even if they do.
Obviously, this is difficult for patients — but it’s also debilitating for healthcare organizations. When patient collections are down, providers face bad debt, poor patient retention, and decreased satisfaction for patients and staff. So, what’s the answer?
It’s time to create a better patient collections experience. Providers who take action now can change a potentially bleak future simply by rethinking patient collections. By evolving your process and offering consumer-friendly experiences, you can empower your patients to manage their health — and their bills — with less stress and surprise.
What’s inside:
- The current state of patient collections, from deductibles to denials
- Why transparency is key to patient satisfaction + compliance
- Using automation + data to improve patient collections
- How to empower patients to pay with the 3 Cs