The VisitPay Blog | Building Better Financial Relationships

More Meaningful Ways to Pay at Intermountain Healthcare

with Todd Craghead

The Patient Financial Journey Reimagined

Listen now: More Meaningful Ways to Pay at Intermountain Healthcare

The Patient Financial Journey Reimagined Podcast
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My guest today is Todd Craghead, VP of Revenue Cycle at Intermountain Healthcare in Salt Lake City, Utah. Intermountain now has over 200,000 patients registered to use the VisitPay platform. High adoption rates and increased patient satisfaction have driven a yield lift of 29%.

In this interview, we talk about how consumer expectations for healthcare are on a par with other industries. We look at how the success of a digital front door strategy is in the numbers, volumes of users, Net Promoter Scores, and App Store ratings. And we talk about Todd’s advice to others considering a digital front door strategy to invest in now and to see brand loyalty grow.

Since implementation with VisitPay, Intermountain Healthcare’s Net Promoter Scores has reached 40+ points, patient satisfaction has increased by more than 90%, and payment yield has improved by 29%.

SHOW NOTES:

  • Todd’s background [0:27]
  • Patient’s financial journey at Intermountain Healthcare [2:51]
  • The financial experience in terms of being a loyalty generator [5:26]
  • My Health+: Intermountain’s Virtual Front Door [7:35]
  • My Health+ use cases for patients or consumers [9:19]
  • Benefits of My Health+ [11:29]
  • My Health+ users [14:17]
  • Todd’s advice for revenue cycle leaders CFOs [17:50]
  • Todd’s most significant takeaway from 2020 [20:23]

RESOURCES:

Intermountain Healthcare: https://intermountainhealthcare.org/ 

QUOTES:

“It was important to Intermountain to create My Health+, so patients and consumers would have a front door to come to us virtually.”

“Using My Health+, we can better embed the use of telehealth for our patients and consumers.”

“When patients are engaged in their financial journey and have some ownership in the process, the outcomes are just better.”

“Using tools like My Health+ and VisitPay to self-manage their healthcare experience, fewer patients are having to endure the pain of being constantly contacted.”

“Leveraging technology like My Health+ and VisitPay makes healthcare easy.”

“Healthcare CFOs need to be considering how do they need to invest to deliver an experience that is meaningful and makes a difference.”

Will is the CMO at VisitPay. A former marketing VP at IBM, he’s now turning his twenty years marketing and consulting experience to help push the envelope of financial health for both health systems and patients. Will hails from Banbury, Oxfordshire and never shies from an opportunity to use his British slang.

See all posts by Will