VisitPay’s financial engagement platform reaps dividends in consumer loyalty and provider differentiators
Boise, ID—April 3, 2019—VisitPay announced that patients who use the company’s revolutionary patient financial engagement platform give their health system’s billing and payment experience an average Net Promoter Score® (NPS) of +50.
By comparison, the average health system’s NPS is +16, dramatically lower than such leading consumer-oriented industries as hotels, banks, retail companies, consumer electronics and Internet service providers.
“Our NPS scores are clear evidence that VisitPay’s experiential approach to medical billing empowers patients to manage their healthcare obligations with confidence,” said Kent Ivanoff, CEO and Co-Founder of VisitPay. “However, NPS is only one way to measure consumer experience. The clinical side of healthcare has many ways of reporting on consumer satisfaction, and we believe the financial side of healthcare can benefit from a similar approach, for example by combining NPS with other measures such as Customer Effort Score and Customer Satisfaction Scores to build a full picture of patients’ needs and preferences.”
The Right Measurement at the Right Time for the Right Patient
In a recent survey, an overwhelming majority of consumers who use VisitPay said that the platform’s accessible and option-rich digital interface made selecting personalized financing options (95%) and payment methods (88%) easy. More than 88% of consumers say that the platform’s user experience brought clarity to payment deadlines and balance due.
Additionally, VisitPay’s proprietary segmentation and advanced analytics, as well as its ability to uncover insights from any core billing system or EHR, gives shape to health systems’ overall consumer engagement strategies.
VisitPay’s versatility and key features like its sophisticated in-app survey and analytics tool, which captures patient feedback in real-time, allow health systems to proactively refine policies and education and engagement opportunities through the care continuum.
Behavioral segmentation, which was the subject of VisitPay’s quantitative national study of consumer needs and preferences around medical billing, draws insights from situational factors and can be used by health systems to prioritize and enhance patient engagement strategies.
“For the first time, the finance team finds itself on the front line of consumer engagement and needs tools to navigate this new landscape. Understanding patient needs and preferences across the healthcare journey gets us one step closer to clinical and financial engagement,” said David Kirshner, a former health system CFO and adviser to VisitPay. “VisitPay is bringing knowledge and techniques from other consumer-facing industries to healthcare.”
Learn more about how VisitPay can positively impact your patient satisfaction metrics at www.visitpay.com.
Founded in 2010, VisitPay is the leader in patient financial engagement. The company’s third-generation cloud-based platform is used by the nation’s largest and most innovative health systems to deliver transparency, choice and control to patients managing healthcare payments and transactions. Through VisitPay, patients can access a comprehensive accounting of their financial obligations, as well as critical health plan and healthcare information, via a health system-branded portal. VisitPay’s proprietary analytics tailor consistent and fully compliant financing options that meet the unique needs of patients and their families, creating a simplified billing experience that drives both higher payment rates and improved patient satisfaction scores. VisitPay’s investors include Norwest Venture Partners, Flare Capital Partners and Ascension Ventures. For more information about VisitPay, visit www.visitpay.com. Follow us on Twitter and LinkedIn. Visit our Company Blog to access case studies, thought leadership and news.
Amendola Communications for VisitPay