MGMA Connection features an article authored by InstaMed’s Chris Seib, in which he discusses the benefits of providers turning to digital healthcare payments.
Read the full article, Healthcare’s blind spot: Payment experience, in MGMA Connection. Below is an excerpt from the article.
The new reality for healthcare providers means that very few patients have been left unburdened by increases in payment responsibility. Most healthcare providers are left to collect more frequently from patients and for higher amounts. Where providers could once solely rely on payers for revenue, patient payments are a growing portion of their bottom line and have become a key component of a provider’s financial outlook.
The industry has been slow to react to the increasing burden on patients, still clinging to outdated processes for healthcare payments. Dissatisfaction among patients has become hard for providers to ignore. If providers were to tap into the power of the digital age, time to payment for patient collections would improve, and so too would patient experience.