Personalizing the Payment Process Builds Patient Satisfaction

Patrick Maurer

Messages specific to balance due amounts allow hospitals to tailor wording and payment options based on high or low balances.

Patients are now responsible for a higher percentage of their balances than ever before. In fact, in 2015, individuals were responsible for paying more than $420 billion out of pocket. For a variety of reasons—including financial hardships or even confusion—more than 15 percent of that went uncollected. For providers, the cost to collect patient balances continues to rise.

As a result, it is critical for healthcare providers to balance patient needs with financial performance. To do this, they must engage with their patients in a new way. It’s about creating an emotional connection, expressing empathy, and driving patient engagement. People want personalization, relevancy, and information that is tailored to them as individuals. As a result of these shifting expectations, accurate patient insights are more critical than ever before.

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