Editor’s Note: This article originally appeared on VisitPay’s website.
Against the headwinds of high deductibles and confusing billing statements, it feels intuitive for health systems to collect what they can, write-off what they can’t and move on.
However, health systems can increase revenue by focusing on the consumer experience, rather than collections. Joining key components of an ideal billing experience—identifying the right offer, tailored to the consumer at the right time—can greatly increase satisfaction and corresponding yield.
The technological infrastructure and strategic intelligence necessary to help patients anticipate, plan and pay for medical expenses is not tomorrow’s aspiration, but today’s reality. VisitPay has spent years helping our health system clients flourish in the patient-as-payer era—and the results are encouraging. Our clients typically report a 70% increase in patient satisfaction and a 30% increase in payment yield which would have represented bad debt.
Today, we are proud to announce that Henry Ford Health System, one of the country’s largest non-profit integrated healthcare organizations, is the latest health system to join the VisitPay family. Click here to continue>>
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