Increasing patient responsibility is becoming more prominent in healthcare than ever before. More patients are enrolling in high deductible health plans (HDHPs), which require patients to pay a minimum deductible amount before their health plans cover any portion of the cost. In 2010, 10 million consumers were enrolled in HDHPs. Less than a decade later, 75 million consumers are enrolled in HDHPs, a more than seven-fold increase.
The trend of increasing patient responsibility requires providers to rely on patients for a
As students and parents get ready for a new school year, it’s a good time to regroup and set up new goals for the upcoming fall and winter months. While students go back to school shopping, healthcare should consider picking up some new tools and best practices for healthcare payments.
Here are five “back-to-school” lessons healthcare organizations can learn before taking on the new year ahead:
Utilize Omnichannel Payment Options
Crayons, markers or colored pencils… Which is your preference for coloring? Students all
No one likes rejection; but, providers who can’t deliver the consumer-friendly experiences their patients expect are more likely to see their patient recruitment and retention suffer. According to a recent study from West, 74% of patients put off seeing their providers when they are not completely satisfied with their experience, and 88% of patients said they would switch providers if dissatisfied.
Why are patients dissatisfied with their healthcare experience? A lack of convenience and confidence in the healthcare payments process can
Offering patients multiple ways to pay is the best way to engage patients in the payment process and maximize your patient payment collections. However, new payment options can lead to increased security risks if providers do not take the proper precautions. With data breaches threatening serious financial and reputational repercussions, providers should look for ways to enhance security and protect sensitive payment information.
Here are three opportunities to enhance payment security at your practice:
Many providers accept credit cards in the office