Trends in the Consumer Revenue Cycle

with Will Reilly & Kristin Burns

Listen now: Trends in the Consumer Revenue Cycle

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Normally on the show, I interview industry experts about how we can improve the patient financial experience. For today’s episode, we’re doing something different. 

Recently, my colleague Kristin Burns and I took part in a webcast which we’ll be featuring on upcoming episodes. Today’s episode features highlights from an interview we completed leading up to the webcast. Kristin is Director of Product Management at VisitPay. The host of the show, Andrew McLeod is Senior Director of Operations for The Knowledge Group

I really enjoyed this conversation as Andrew, Kristin, and I talked about a wide range of topics including how patients often avoid health care because of the cost, advice on how to tailor the financial experience to each individual patient, the biggest opportunities for the financial experience, and more.

VisitPay is the only patient financial engagement platform that simplifies the entire patient billing experience. Through VisitPay, health systems can create a seamless, singular point of interaction that radically reshapes the billing experience by providing greater transparency, choice and control to patients, all while generating high yield. Our mission is to create better financial relationships between health systems and their patients.

We hope you give this episode a listen.

SHOW NOTES:

  • Will Reilly’s and Kristin Burns’ backgrounds [1:57]
  • The first and the last impression is the financial experience [4:35]
  • Tailor the financial experience to the patient  [5:51]
  • The biggest opportunity for the financial experience [8:15]

RESOURCES:

Will Reilly’s LinkedIn

Kristin Burns’ LinkedIn

QUOTES:

“Patient loyalty is not just connected to their clinical care, it’s connected to their financial experience.”

“The financial experience is often the first and last impression a patient has with a healthcare provider.”

“Our research shows that the cost of healthcare and fear of the cost of healthcare puts people off from even trying to get service for health problems they may be having.”

“The patient’s financial experience should be treated with the same level of care and respect they receive on the clinical side.”

“The biggest opportunity in healthcare is to be digital and mobile-first.”

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