Re-conceiving of the patient financial experience has become a strategic priority for a majority of hospital administrators and executives as organizations begin the shift to value-based care models.
That finding comes from a new survey by Navicure. The survey was deployed in April in conjunction with Porter Research and polled a range of hospital administrators, including practice administrators (36 percent), billing managers (35 percent) and C-suite executives (25 percent).
Below are four survey findings.
1. Around 31 percent of respondents said patients' inability to pay is the greatest payment challenge. About 26 percent said difficulties associated with educating patients on their financial responsibility is the greatest challenge.
2. A majority of respondents (57 percent) said they have resources in place to educate patients about financial obligation and hospital payment policies.
3. Forty-two percent said they always estimate the patients' financial responsibility at the point-of-service.
4. Just over half of respondents said their organizations do not offer patients automated payment plans (52 percent) or send electronic statements to patients (57 percent).