3 Key Takeaways: Patient Financial Health Webinar
On Monday, November 20th, VisitPay co-hosted a webinar with Becker’s Hospital Review to discuss the relationship between patient satisfaction and payments.
Jeff Howes of Intermountain Healthcare and Michael Rawdan of St. Luke’s Health System joined the webinar to share the challenges and successes they’ve had with patient billing.
Let’s unpack the discussion and focus on the three takeaways –
Missed the webinar? No problem. Watch the recorded webinar at the bottom of this post.
1. Financial Stress Is a Leading Cause of Poor Health
For the three out of four American families that are living paycheck to paycheck, the impact of rising out-of-pocket costs for medical treatment is adding an additional layer of stress that’s not conducive to healing.
2. Healthcare Leaders Are Forging a New Path
Hospital systems like St. Luke’s and Intermountain are putting to rest dated payment methods that are lagging in how patients manage healthcare financial responsibilities and are introducing an improved digital experience.
“Healthcare networks need to be more flexible and meet patients where they are,” said Rawdan. “If you’re not thinking about things a little differently than you have in the past, you’re going to run into troubled waters.”
3. Finding Financial Health – For Hospitals and Patients
VisitPay’s payment platform improves patient satisfaction by providing a more transparent and intuitive billing experience from start to finish, thereby increasing payments.
“We’ve been monitoring patient satisfaction. We’ve found about a 40% increase in positive feedback since we implemented this solution,” said Howes. “A tremendous amount of positive feedback.”
Watch the webinar now to get the rest of the story and hear how St. Luke’s increased their payments by 20%.