Today is part two of a three-part series of a panel discussion about improving the patient financial experience. So if you haven’t yet listened to part one, you may want to do so on the previous episode of the show before diving into this one. As a reminder, this panel discusses topics including how digitalization ensures a consistent payment policy, why price transparency can give providers an advantage, how the patient financial journey begins pre-service, and how to meet the consumer demand for digital technologies. We’ll be wrapping up this series in part three next week.
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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.
- The role of the EMR [1:30]
- The patient financial journey begins pre-service [6:23]
- State and federal pre-service mandates coming [9:53]
- Why price transparency gives you an advantage [11:48]
The Knowledge Group – Trends in the Consumer Revenue Cycle: Best Practices webcast
“70% of consumers are confused by their medical bills and more than 40% are turned to collections. Engaging and educating the patient on the front end will help mitigate this.”
“Price Transparency Part Two as well as the No Surprise Bill Act are going to be a catalyst for that proactive, pre-service connection in our patients’ financial journey.”
“There’s a lot of controversy around price transparency, but it could play to your advantage with high-deductible health plans and more patients choosing a provider based on cost.”