The economic fallout from the COVID-19 pandemic has generated severe financial challenges for patients and health systems. While many elements of this economic downturn are out of healthcare leaders’ control, one element — the patient financial experience — is an area where health system financial teams can have more influence.
Roanoke, Va.-based Carilion Clinic is one health system that has prioritized the improvement of its patient financial experience. In late 2019, Carilion Clinic partnered with VisitPay to launch Carilion Bill Pay [VisitPay] to deliver more flexible payment options to patients. Since then, the health system has seen more than 30,000 patients sign up for the payment platform. Patients enrolled in the platform repaid 60 percent more of every dollar owed than patients that still use traditional payment methods.
To hear from Carilion Clinic’s CFO on what the transformation has meant for the health system, and learn more about what building blocks create a better patient billing experience, download the eBook here.