Black Book survey: 83% of providers to focus on retail-like technology solutions

Providers are looking at financial solutions that focus on consumers as patients take on more costs for their care, according to a Black Book report.

The report, released Tuesday, details findings from Black Book's 2017 revenue cycle management surveys of 2,698 providers and 850 patients with high-deductible health plans.

Here are five findings from the surveys.

1. Most provider respondents (83 percent) plan to implement more retail-like technology solutions and practices, according to Black Book.

2. Patients' deductible and out-of-pocket maximum costs increased 29.4 percent since 2015. This year's average deductible for patients was $1,820. Black Book said patients' out-of-pocket costs increased this year to more than $4,400.

3. By the fourth quarter of next year, 82 percent of medical providers and 92 percent of hospitals plan "to jettison time-intensive, error-prone, manual efforts to back end processes and reconcile bills" due to negative financial effects of traditional collection solutions, according to Black Book.

4. A majority of patients pay their medical expenses online. Black Book said 62 percent of medical bills were paid this way in the first half of this year and most patients (95 percent) would pay medical bills online if the provider offered that option.

5. Along those lines, patients ranked "online estimation," "payment plan administration," and "on-demand instructions support" among the top improvements providers could make to boost satisfaction.

Read about other key findings here.


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