5 Ways to Leverage Technology & Grow Your Practice
The patient experience has never been more critical in an age when patients are paying a larger portion of their healthcare bills. Rising out-of-pocket expenses and high-deductible insurance plans are leaving many people skipping office visits. More than half of Americans have avoided medical care due to costs.
Technology is transforming how practices interact with patients and help people afford the care they need most. Check out these five ways to leverage technology to grow your practice and open the doors to more patients.
- Provide greater transparency upfront
As you aim to grow your practice, ask yourself – what qualities does a good healthcare provider possess? Many patients might answer this question with one simple word: transparency. A major reason that medical bills go unpaid is due to misunderstandings and a lack of transparency regarding cost. One survey found that 77% of healthcare consumers report it’s important or very important to know costs prior to treatment. Additionally, 91% of patients say that knowing the cost of medical care should be as readily available as prices on a restaurant menu.
More accurate patient estimation tools help people clearly understand their financial responsibility up front. Discuss planning strategies to come up with the best solution to calculate costs for patients. Staff can calculate out-of-pocket costs using data from a patient’s benefit plans, and if the patient can’t pay the whole bill upfront, you can discuss available resources. For example, ClearCalc® checks patient eligibility, analyzes the patient’s benefit plan and uses payor fee schedules to accurately calculate the patient’s out-of-pocket expense.
- Offer patients financing options
Patients need help fitting the cost of medical care into their budgets, and financing plans are in high demand. In fact, 53% of patients say they want to discuss financing options before receiving medical care. Yet only 18% of those surveyed reported that their healthcare providers talked with them about patient financing options over the past two years.
Patient financing allows potential patients to get access to the services they need most and improves patient satisfaction. Consider a solution that enables you to get paid upfront for receivables.
- Empower patients with digital payment solutions
Patients want to use digital tools to pay for services. A few easy clicks, and they can purchase groceries, get food delivered, and simplify online purchases. These types of transactions provide a level of convenience and ease that improves the customer experience and keeps people coming back for more.
With so many benefits of technology in healthcare, there is no reason your practice shouldn’t have a digital payment tool. Patient payment tools are one of the fastest-growing trends in healthcare payments that allow the same level of convenience and help increase cash flow and get paid faster. With QuickPay, you can present your potential patients with the option of paying from their mobile device or tablet. Send a customized “text to pay” or “email to pay” message with a link to a contactless checkout solution where patients can pay now or enroll in a facility-approved payment plan.
- Engage with patients and create more meaningful relationships
Patient engagement is critical to building your practice and growing into the future; however, statistics show that many patients aren’t actively engaged. On average, healthcare leaders believe that only 34% of patients are highly engaged.
Practices can build a stronger practice and nurture patient relationships by building an online presence with innovative patient-engagement platforms. The platform should have the option to pair with their patient base using their preferred communication type, whether it’s text message, email interactive voice response, social media, or speaking with a person.
Additionally, you can stay connected to existing patients by delivering specific messages at critical touchpoints along the patient journey. Cash flow is also improved by speeding up the revenue cycle and keeping patients engaged with your practice.
- Give patients 24/7 access to helpful payment tools
Patients are living in a hyperconnected world and expect all businesses to provide services around the clock. For example, a patient may receive a bill and decide to pay it later. Once the patient is ready to pay that bill, it’s important to make it easy.
Leveraging technology into the future
Practices are doing business in a fast-changing environment. More emphasis than ever is being placed on the patient experience. People not only enjoy easy, frictionless experiences, but they expect them.
Implementing the right technologies and tools empowers your practice to provide the resources that create a seamless patient experience, speed up the revenue cycle, and keep people engaged and returning to your practice.