In life and healthcare, personal experiences matter.
It happened about 15 years ago. I was driving from Boise to McCall, Idaho for the holidays. It was cold and snowing, and I was traveling with my wife and our son who was only a few months old. While driving up a canyon, I lost control of the car and we slid over the edge. We rolled down an embankment and ended up along the edge of a river, upside down. My wife was able to escape the vehicle to get help, but I was trapped. I managed to free my son from his car seat, and then I waited.
While holding my son, I heard a voice and saw the feet of a trucker outside our wrecked vehicle. I asked him to put his hands down by the smashed window of the car so I could hand him my son. I remember these rough, dirty hands stretching out to help. I was pulled out of the vehicle next. Fortunately, we were all okay. An ambulance showed up, gave us a lot of support and attention, and we realized just how lucky we were to escape without injury.
Then, as I was lying on a stretcher in the ambulance, a sheriff arrived at the scene and placed a speeding violation on my chest.
Improving healthcare billing begins with improving the patient experience.
I often think back to this experience when I observe the healthcare billing environment today. While the trucker and ambulance provided a truly great and deeply appreciated experience in a time of need—much like healthcare systems provide every day—it was overshadowed by the terrible and unexpected experience delivered by the officer.
Through the eyes of a patient, today’s healthcare billing experience isn’t much different. In fact, the majority of patients are confused about what they owe at a time when they’re responsible for a larger portion of their bill than ever before. And when you consider that high deductibles and rising out-of-pocket expenses place most American families in a position where they can’t afford to pay an unexpected bill of $400, patient satisfaction is diminishing right along with payments.
Great experiences need to be provided on the clinical AND the financial side of healthcare.
While working at Capital One, we were able to reduce our customer turnover from 50% to 12% by making one key change: We made individualized customer experiences a priority.
Implementing a similar consumer-first approach to the patient financial relationship can improve patient satisfaction while increasing payments. Let us show you how.