Investing in mobile and consumer friendly payment technology can directly impact hospitals' patient collection rates.
Tom Furr, CEO and founder of PatientPay, a patient payment solutions provider: In this age of patient engagement every healthcare executive is involved in marketing to one extent or another. After all, we increasingly refer to patients as healthcare consumers: people who are actively involved in decisions about how their health is managed, procedures are handled, when they elect to have them and how much they are willing to pay. But many providers are failing to engage patients through their preferred payment channel. Consumers are interested in technology that helps them easily manage their lives and reduce hassles, such as digital bill pay reminders. Those kinds of options will improve the overall customer experience. And that will lead to more collections.