improving the patient experience - home - visitpay › wp-content › uploads › 2018 › 09 ›...

Improving thePatient Experience:The Next Big Opportunity in Healthcare

A Patient Financial Health eBook ©2018 VisitPay All rights reserved.

VisitPay // Improving the Patient Experience

Table of Contents

2

INTRODUCTION:The Age of the Patient as Payor . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Learn about the challenges patients and providers are facing in today’s healthcare economy, and what you can do about it.

SECTION 1:Making the Billing Experience as Good as the Clinical Experience.

Relationship Is Everything . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6The key to improving patient satisfaction begins with assessing thepatient and provider relationship.

Partner Spotlight: St. Luke’s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10See what happened when St. Luke’s prioritized patient satisfaction.

SECTION 2:Arming Patients with the Technology They Need to Control How They Pay.

Putting the Patient in the Driver’s Seat . . . . . . . . . . . . . . . . . . . 12When patients have more control when paying their bills, they’remore likely to pay them.

Healthcare: Ripe for Consumer-centric Innovation . . . . . . . . 15Rick Kolsky explains why the time for innovation in healthcare is now.

Partner Spotlight: Inova . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195 Lessons Inova Can Teach Any Health System.

SECTION 3:Take the Next Step to Improving Your Patient Financial Relationships.

Why We Must Improve the Patient Financial Experience. . 22VisitPay CEO Kent Ivano� illuminates the importance of improvingthe patient experience for the good of the entire industry.

Conclusion: Carrots Not Sticks . . . . . . . . . . . . . . . . . . . . . . . . . 24VisitPay’s Vincent Martino explains how to take the next step tobuilding a patient-first approach to healthcare billing.

ABOUT VISITPAY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

In this new healthcare landscape, the patient experience is more important than ever. To be successful, the same careful attention that goes into providing a great patient experience on the clinical side must now be applied to the financial side. As an industry, we’ve got a lot of work to do to get there, but help is at hand as a new set of solutions and approaches has emerged to tackle this challenge head-on. On the following pages, you’ll learn how providing an exceptional experience drives financial outcomes and lifts patient satisfaction, and what you can do today to get started.

Healthcare billing is confusing. It was designed as a B2B process in another century, for another set of payors—insurance companies and the government. Patients today are accustomed to the digital, user-friendly billing experiences they’re presented with in other industries.

As patients become responsible for more of their medical bills¹, providers must develop user-friendly solutions to gather these payments. These solutions need to give patients transparency about what’s owed and why, and put the patient in control by o�ering flexibility around payment terms and timing.

When healthcare billing is confusing, patients get frustrated. And that frustration drives low payment rates, while impacting patient satisfaction. With hospital margins already in jeopardy, this reduction in patient payments—especially at a time when deductibles and patient responsibility are on the rise—can be the di�erence between a health system thriving over the next five years… or not.

The Age of Patient as Payor Is Here—and Patients Deserve a Better Way

VisitPay // Improving the Patient ExperienceINTRODUCTION

3

“Healthcare networks need to be more flexible and meet patients where they are. If you’re not thinking about things a little di�erently than you have in the past, you’re going to run into troubled waters.”

Michael RawdanSenior Director Financial Services & Patient Experience, St. Luke’s Health System

Rest assured, it is possible to achieve

sustainable and positive financial outcomes

in a way that considers the uniqueness of

healthcare and takes care of patients.

Nik TrottaVP of Finance and Administration, VisitPay

SECTION 1

It’s time to bring the patient billing experience more in line

with the patient care experience. When healthcare systems

focus on providing exceptional care beyond the doors of

the hospital, patient satisfaction—and payments—increase.

Making the Billing Experience AsGood As The Clinical Experience


5

When It Comes to Improvingthe Patient Experience,Relationship Is Everything

The ongoing shift to patient-centered, value-based healthcare has presented many health systems with a stark paradox. On the clinical side, we see patients and providers act like engaged collaborators, partners who share similar goals of enduring and positive health outcomes that meet people where they are in life.

The financial side, unfortunately, can feel like the near-mirror opposite. Unexpected costs; multiple, confusing bills; demands for immediate payment in full; icy referrals to collections agencies; and even lawsuits. The empathetic patient-provider relationship is quickly soured.


6

Making the Billing Experience As Good As The Clinical ExperienceSECTION 1:

VisitPay // Improving the Patient ExperienceMaking the Billing Experience As Good As The Clinical ExperienceSECTION 1:

Relationship Status: “It’s Complicated”

Like any other relationship, the one between patient and provider is vulnerable to the perfect storm of stressors.

For patients, out-of-pocket costs continue to rise, even for those who have good insurance. It’s a serious problem that is compounded by the lack of tools to help consumers understand the cost of care or forge a viable pathway to sustainably meet their obligations.

For providers, it’s an increasingly delicate balance between sustaining healthy margins without alienating the patient. Profit margins are slim, while hospital revenue attributed to self-paying patients continues to rise. Patients collectively are a provider's largest payer after Medicare and Medicaid, accounting for 35% of the average health system’s revenue¹.

Of course, there are some intriguing silver linings in these dark clouds, thanks to some innovative health systems that are designing patient financial experiences that deliver the same level of dignity, quality and communication o�ered on the clinical side.

The patient journey is all inclusive and

demands that all departments in the

health system work together. Patients

research costs, doctors and facilities

online or in-person. Then they go to

their appointment and are billed for

their visit. In this example, the patient

has been exposed to the marketing

team, doctor, nurse and administrative

sta�, as well as the revenue cycle

team. Referrals and managing ongoing

conditions make this a continuous

cycle of experiences and encounters.

Continuum of Care

7


Relationship Repair

A patient understanding what they owe is just the start. The next piece of the puzzle is uncovering insights into the patient and customizing flexible and longer-term financial solutions to help them do it.

Intermountain Healthcare began o�ering patients interest-free payments for 12-month loans, with low interest rates attached to longer-term loans of up to 60 months. In addition, Intermountain began testing di�erent financial strategies to help di�erent groups of patients take control over their healthcare finances. Overall yields from out-of-pocket payments quickly improved by 15% to 20% overall², according to Todd Craghead, Vice President of Revenue for Intermountain Healthcare.

A Second Honeymoon

A comprehensive approach to payments helps patients understand what they owe and provides the tools they need to make incremental and manageable payments. This not only improves a health system’s yield and cash flow but also positively impacts non-economic metrics, including patient satisfaction and Net Promoter Score.

Patients were responsible for just 5% of their medical bills just 15 years ago, today that number has skyrocketed to 35%¹.

In 2017, the CDC reported that 40% of Americans are enrolled in high deductible health plans³ (doubling what it was just seven years ago).

3 out of 4 Americans live paycheck- to-paycheck⁴—one health crisis away from filing bankruptcy. In fact, 40% say would not be able to cover a $400 emergency expense.⁵

Healthcare systems are now seeing a 40/40/20 receivable split owed by each of the three major payor groups—government, commercial, and patient.6

Patients pay on average less than 50% after their in-network discount.6

Fast Facts: Patients on the Hook

5%

35%

20%

40%

40%

40%

20%

8

By adopting new payment strategies that prioritize billing transparency and are robust, consumer- friendly payment options, health systems can help create this new healthcare consumer—and generate the same high trust with the financial experience as they already achieve on the clinical side.

Fast Facts: Hospital Margins Are Shrinking

For 2018, Moody’s not-for-profit and public healthcare outlook changed to negative due to reimbursement and expense pressures.

Sources: Moody's Investors Service: “US Not-for-Profit and Public Healthcare Outlook Changed to Negative with Rising Operating Pressure,” December 2017; Moody's Investors Service, “U.S. Not-for-Profit Hospital 2016 Medians" report, August 2017

Health systems across the nationare facing a number of financial pressures.

2.7% Average US health system operating margin

7.2% Average annual operating expense growth rate

6-7% Expected bad debt rate growth from 2017 to 2018

1.6% Hospital revenue growth decline in 2017

2-4% Contraction in operating cash flow for not-for- profit healthcare between Jan 2018-June 2019


TRUSTFINANCIAL

In addition, the right approach reduces the risk of patients avoiding necessary care simply because they’re worried about cost or how they can pay.

To meet the needs of patients, healthcare stakeholders must work together to help consumers take control of their healthcare payments—leveraging technology, personalization and education.

9

“The inability of hospitals to translate volume growth into stronger revenue growth is due to the lower reimbursement rate increases across all insurance providers and higher expense growth.”

Moody's Investors Service

PARTNER SPOTLIGHT

St. Luke’s Health System helps to ensure their financial health by focusing on patient satisfaction—after all, it’s patient satisfaction that keeps patients returning for care. And while it may not seem obvious that one of the ways to increase patient satisfaction is to improve patient billing, it should be. By transforming billing into a digital experience, St. Luke’s has reported a 38% improvement in self-pay collections by month over the last 16 months. Over the same period they’ve seen a 21% reduction in cost per dollar collected across the revenue cycle. And patient satisfaction? It increased by 90% so that they are now scoring 51% in top box satisfaction and they’re gunning for 70-75%.7

The Secret to Patient Satisfaction:

Transforming Patient Billing at St. Luke’s Health System


10

St. Luke’s Health System$2.4B Net Patient RevenueLocated in Idaho & OregonFirst Deployed VisitPay in 2014

Patients want, and deserve,a digital experience when it comesto healthcare billing.

KEY LEARNING:

SECTION 2

Patients demand a financial experience on par with what they

experience in other markets, and rightfully so. Every place they

shop, manage finances or transact, especially online, provides

an e�cient and satisfying customer experience.

Healthcare shouldn’t be any di�erent.


11

Arming Patients withthe Technology They Needto Control How They Pay

Putting the Patient in the Driver’s Seat

WILL REILLY, VP of Consumer and Client Marketing at VisitPay

There’s no reason why the relationship between provider and patient shouldn’t feel like an Uber or an online banking experience. During a health event, patients already feel like their environment is out of control. Removing the stress associated with long-term healthcare bills, rather than adding to the pressure is one way providers can help patients regain a modicum of control. Putting the consumer in the driver’s seat creates an experience that can fuel stronger feelings of loyalty and partnership, while also delivering stronger payment returns.


12

Arming Patients with the Technology They Need to Control How They PaySECTION 2:

Brand and relationship building represents a significant part of any healthcare provider‘s broader mission to serve their community. Yet to many, serving the community’s health and wellness at the same time as serving their financial well-being still feels like a conflict of interest—misaligned to their higher calling.

How can providers strike the right balance between good finance and health and wellness? Can they adhere to their higher credo while also functioning as a consumer financing organization? It’s a hard balance to strike—especially when the incentives of di�erent payment models are di�cult to follow or are not aligned with the provider’s ultimate objectives. There is no mission without margin.

Instead of reacting to financial pressures with operational improvements, we must be willingto take a consumer-driven approach to innovating the healthcare financial experience.

Rick Kolsky, Ph.D.Adjunct Professor of Executive Education, Northwestern University

It’s going to take more than a nice UI to get there, though. Creating an easy to use consumer application—one that is attractive and intuitive—is like applying a band-aid to a broken arm. Unless there’s something behind the application that changes and personalizes the experience, then we’re just beautifying a bad process. If the new experience only o�ers users a faster way to pay using digitized patient statements and transactions, rather than providing any upshot in terms of the economics, then it doesn’t make much sense.

Creating a front-end that doesn’t address the ine�ciencies of a rigid back-end is not going to fool anyone for long. Just because a consumer can see their bill on their phone doesn’t mean the process of accounts receivable has changed. It’s not going to allow the provider to see who is paying their bills and who isn’t; or, who has the potential to pay their bills and who doesn’t. It doesn’t provide them with the analytics tools and models they need to understand a given patient’s capacity to pay a debt. It doesn’t allow them to combine financial data with patient records and clinical data to fully understand the broader picture of an individual patient or group of patients.

VisitPay // Improving the Patient ExperienceSECTION 2:

13

“Creating a front-end consumer experience that doesn’t address the ine�ciencies ofa rigid back-end system is not going to fool anyone for long.”

Arming Patients with the Technology They Need to Control How They Pay

VisitPay // Improving the Patient ExperienceArming Patients with the Technology They Need to Control How They PaySECTION 2:

ABOUT THE AUTHOR:

Will is the VP of Consumer and Client Marketing at VisitPay. A former marketing VP at IBM, he’s now turning his twenty years marketing and consulting experience to help push the envelope of financial health for both health systems and patients.

If the system is just digitizing that experience, it’s not really doing anything except making an ine�cient process prettier. There’s no innovation, let alone evolution. But if the system automatically, without human intervention, can say, “I know enough about this patient to see that none of those three options are very good. Let’s do something that’s a little more meaningful that this patient can a�ord,” then it’s a game changer. In this scenario, both the patient and provider are the winners.

14

The consumer-centric vision is

finally coalescing from providers

wanting the patient experience to

be beautiful, easy and inviting to

something more. Chief Financial

O�cers and Chief Experience

O�cers want to move the needle

beyond portals and digitized

versions of paper statements to

measurable, consumer-driven

financial strategies.

Moving the Needle

Healthcare: Ripe forConsumer-centric Innovation

RICK KOLSKY Adjunct Professor of Executive Education, Northwestern University

If ever an industry was due and ripe for innovation, it’s healthcare, which has become absolutely una�ordable for the average American household despite Americans being more unhealthy than ever.

Healthcare may be a complicated business, but it doesn’t have to be. When it comes to healthcare costs and outcomes, financial o�cers can elect to take a consumer-driven approach toward innovating the healthcare financial experience. In fact, creating a healthy future for our communities depends on it.


15

SECTION 2:

Outside-in: Customer-centered Design

One of the fundamentals behind customer-centered design is being able to move from an inside-out focus on what we do, to an outside-in focus on more e�ciently and e�ectively helping customers solve pressing problems to profoundly change their lives for the better. Now I know this sounds kind of like motherhood and apple pie, but it’s a lot easier said than done.

Most companies define themselves in terms of the products and services they sell, such as a knee surgery. They work really hard to improve the operational features they o�er. “We’re going to get the latest in robotics. We’re going to send our physicians to charm school. And we’re going to have this wonderful, beautiful, high-tech, state-of-the-art rehab center.”

The relatively rare customer-driven enterprise doesn’t start with the product or the features but rather with what we call the customer’s job to be done.


16

VisitPay // Improving the Patient ExperienceSECTION 2:

Improve the Patient’s Journey, Improve Their Life

The customer-driven company’s process starts with the outcomes the customer seeks and how they seek to improve their life.

To start, examine every single step in the customer’s journey for how to not only help them do the job better, but far more e�ciently. Few industries have more pain points—functional, emotional, and social—in the customer experience than healthcare, or spend more money that actually increases that pain rather than decreases that pain.

As you diagnose patient journeys, act like your mom, your husband, your daughter is actually the customer. Ladder up to what we can do to improve their lives, rather than just perform a procedure.

When spending money to deliver this experience, act like it’s your money, as if your mom, your husband, your daughter had to actually pay the bill. After all, the visit and the subsequent billing experience aren’t separate—the two are linked, and critically, that financial experience can make or break the long-term healthcare relationship.


Eve

ryth

ing

Cha

lleng

e

Eve

ryth

ing

Cha

lleng

e

Eve

ryth

ing

Cha

lleng

e E

very

thin

gChallenge Everything

If you’ve been in the healthcare business for at least 10 years, you’ve probably learned from your experience. That means there’s a good chance that 70% of what you’ve learned is going to point you in the right direction. The other 30%, though, is toxic to your future, which means you’ve got to challenge everything.

I urge you to take a look at your assumptions about patient behavior, policies and procedures, sta� and equipment utilization, and how you work with insurers. Ask yourself under what circumstances would this not be true and if not, how could you deliver a significantly better outcome to these families with far less costs? In part, it’s by capitalizing on trends that are transforming other industries.

17

Eve

ryth

ing

Cha

lleng

e E

very

thin

g VisitPay // Improving the Patient ExperienceSECTION 2:

18

Next, be bold. Our economy’s future depends on your success. I’m convinced that information and technology hold the key to the goldmine of better service and lower costs. Do not be afraid of it, be bold in how we use it. For example, the kind of insights gained from data can help support patients in unique and specific ways that go outside of a one-size-fits-all approach.

Learn quickly from the upstarts before the upstarts destroy what you see as your existing business—and constantly experiment. You should be running hundreds of experiments on how you’re going to reinvent healthcare. Many of you hear: “You need to cut costs by 10%.” So you try to figure out what to cut. What I’m saying is no, the first priority is to dramatically improve customer experiences in ways that cut costs in half.

The last thing is don’t fear the change. Change in healthcare, at this point in time, is your friend and it’s inevitable.

ABOUT THE AUTHOR:

Richard I. Kolsky has spent the past 28 years helping clients take marketing to the bottom line. Dr. Kolsky’s clients have used action-learning to convert many of today's fads—such as strategy innovation, market-focus, channel management, and brand synergy—from simple buzzwords to bottom-line reality in markets as diverse as accounting, infant formula, life insurance, cream cheese, hip-hop, and earth moving equipment.

Dr. Kolsky is a Lecturer at Northwestern University’s Kellogg School of Management and holds a Ph.D. from Yale in Economics and a BA-MA in Engineering and Economics from Brown.

“Change in healthcare, at this point in time, is your friend and it’s inevitable.”


PARTNER SPOTLIGHT

5 Lessons Inova CanTeach Any Health System


19

Inova Health System$2.7B Net Patient RevenueLocated in Falls Church, Virginia

Choose a platform that o�ers customization, at any scale

To provide patients with the information and payment options that meet individualized needs within certain parameters, Inova needed a digital platform that could o�er customization, at any scale. Their top three expected outcomes:

• Gain flexibility to meet the work and workflow requirementsto support Inova;

• Improve the patient experience throughout the revenue cycle—including providing patients with the informationand tools they need to meet their financial obligations;

• Improve collections while reducing bad debt and lowering administrative costs.

1

PARTNER SPOTLIGHT


20

Inova Health System

2 Freedom to make ongoing configurationchanges is essential

Healthcare is the most regulated industry in the country. The ability to adjust to updates or changes in federal, state, county and city regulations around that exchange of data is imperative. Being able to make changes to your own environment, in an agile way, is essential.

This is not a cookie-cutter industry—every ecosystem is di�erent

Inova’s vendors and partners vary from ecosystems used at other systems. And, while there might be a general approach or outline for deployment at the macro level, there needs to be enough leeway to create a micro plan that considers the di�erent requirements and attributes of each unique ecosystem of partners.

Personalize the patient experience with segmentation

Revenue cycle is a critical part of patient experience.Inova uses segmentation combined with the data they already have about individual patients to customize each patient’s interactions.

Everyone wins with a consumer-financing approach

It’s imperative to find options to assist patients in meeting higher financial obligations. Everyone benefits when there is room to be flexible about financial solutions. Other industries have been providing consumers with financing options for a long time.

3

4

5

Focusing on Patient Health at Inova: 5 Key Implementation Takeaways

LEARN MORE AT THE VISITPAY BLOG:

http://visitpay.com/focusing-patient-health-inova-5-key-implementation-takeaways/

SECTION 3

Drawing from our experience working in consumer finance and later in

revenue cycle management for a large health system, we believe that

technology can be implemented to help solve these problems using this

simple truth as a driver: “Bills that are easier to pay—get paid.”

Take the Next Stepto Improving Your PatientFinancial Relationships


21

Why We Must Improve thePatient Financial Experience

KENT IVANOFF, Co-Founder & CEO, VisitPay

Over our years of research and working with leading healthcare organizations, we realized there are two reasons patients don’t pay their bills:


22

Take the Next Step to Improving Your Patient Financial RelationshipsSECTION 3:

They don’t understand what they owe and why they owe it. As an industry, we bombard patients with explanation of benefits (EOB) and bills that don’t make a lot of intuitive sense. We knew that applying best practices from the consumer finance industry could solve that problem.

1. 2. Because they need an option to payover time. Many patients can’t a�ordto make a lump sum payment.

A successful healthcare financing platform for patients is one that can remove both of these barriers to payment.

Read on to learn how...


23


A simple, tailored solution

Patients deserve a solution that allows them to be able to understand their bill, see their EOB beside their provider bill, and talk with the health system if something looks amiss—ultimately placing them in the driver’s seat to be able to pay over time in a tailored self-service way. Patients should be given more transparency (the ability to understand their bill) as well as options for making customized payment plans according to their income. It’s not a collections game, but an underlying way of allowing self-service for patients to pay. If you give people options and you fix their transparency so they know what they’re paying, they’re more willing to pay.

Net e�ect: Good for all

As patient responsibility continues to rise, providing a better, more transparent billing experience is good for more than just patients—it’s imperative for the success of health systems. By improving healthcare billing, the net e�ect is that patients are far more satisfied, they’re engaged, and you’ve cemented that relationship with the provider.

Patients deserve better, and improving the patient financial experience has the power to increase yield and drive sustainable economic outcomes for healthcare providers.

ABOUT THE AUTHOR:

Kent is the CEO of VisitPay and a seasoned business leader who has delivered breakthrough results in a multitude of consumer finance and payments businesses. Prior to co-founding VisitPay, Kent was the Executive Vice President, US Card Division for Capital One Financial.

Here are just a few ways we do it:

BILLING HISTORY TRANSPARENCY: A VisitPay consumer will see every visit they’ve had with the health system in their account. And for every visit, they will see all charges, insurance payments, contractual adjustments, and payments they’ve made.

ISSUE RESOLUTION: If through that transparency the consumer thinks something is amiss, they can contact the health system and resolve the issue in real time. At the end of the day, a person is not going to pay if they think the bill is wrong. Fixing it immediately is important.

SINGLE, CONSOLIDATED BILL PER MONTH:We guarantee the consumer will get a single bill per month, combining physician and facility charges onto one statement. We do this across multiple billing systems for a hospital—even if you have Cerner, Epic, and Meditech (and more), your consumers will still receive just one statement per month.


24


Carrots Not Sticks:How to Simultaneously IncreasePatient Payments and Patient Satisfaction

VINCENT MARTINO, Co-Founder & Chief Product O�cer, VisitPay

We truly believe that carrots win out over sticks, especially when it comes to paying healthcare expenses. In many cases healthcare expenses are unexpected. They also can be very large. And they also can be very confusing.

Rather than investing in sending more statements or collection notices, or making more calls, we invest our time in advancing the experience in ways that give consumers a great billing experience.


25


INSURANCE INFO (EOB): We display the Explanation of Benefits right alongside the hospital bill. This allows a consumer to easily compare what their insurer reported versus what the healthcare system says they owe. It gives the consumer the confidence they need to pay their bill, reduces the need for them to sift through reams of paper and if the consumer finds an issue, they can use the aforementioned online resolution tools to solve the problem.

SMART FINANCE PLAN OFFERS: We provide extended financing based on the healthcare system’s rule set and give patients an easy way to self-service within the health systems policies. Given the magnitude of bills today, consumers need longer to pay, and we can provide “smart” o�ers that are tailored to the consumer’s ability to pay.

PROMPT PAY DISCOUNTS: Maybe this is the ultimate “carrot.” We can provide discounts to consumers who pay their bills in full on time. Like our finance plan o�ers, these discounts can be tailored to the individual in a variety of ways.

These are just a handful of features that drive patient payment yield AND consumer satisfaction.

The VisitPay solution was purpose-built to create this “AND” proposition and we’d love to share even more about how we do it.

Vincent is the Chief Product O�cer and Co-Founder at VisitPay. He has nearly 20 years experience leading product development, operations, and marketing. He was formerly COO of Balihoo and Director of Operations and Analysis for the Credit Recovery Services division at Capital One.

ABOUT THE AUTHOR:


26

VisitPay is a dedicated group of consumer

finance people working for the good of the

healthcare industry.

Our company was established after our

founders discovered an entire industry that

was using outdated and inadequate systems

to manage patient revenue—leading to

frustrated providers, dissatisfied and confused

patients, and, ultimately, fewer payments.

Something had to change.

So we decided to fix it. In doing so, we

didn’t only make patient billing easier, we

rethought patient financial relationships

from end to end.

Let’s explore how your health system can

rethink things, too. Whether you have a

question or you’d like to schedule a demo

to see VisitPay in action, we look forward

to showing you how this powerful platform

makes patient financial engagement

easier than ever.

LEARN MORE:

VisitPay.com [email protected]

http://visitpay.com

mailto:[email protected]

SOURCES CITED

1 Forbes: https://www.forbes.com/sites/allbusiness/2017/06/28/what-we-can-all-do-about-rising-healthcare-costs/#2d90f4bb2f37² VisitPay Blog: https://www.visitpay.com/blog-posts/fixing-fractured-financial-marriage-providers-patients/³ CDC: Americans with High Deductible Health Plans Skyrocket since ACA https://nonprofitquarterly.org/2017/06/09/cdc-americans-high-deductible-health-plans-skyrocket-since-aca/⁴ Most Americans live paycheck to paycheck: https://www.cnbc.com/2017/08/24/most-americans-live-paycheck-to-paycheck.html ⁵ Report on the Economic Well-Being of U.S. Households: https://www.federalreserve.gov/newsevents/pressreleases/other20180522a.htm6 What Health System CFOs Need to Know About the Patient as Payor http://www.visitpay.com/blog-posts/health-system-cfos-need-know-patient-payor/7 VisitPay Blog: https://www.visitpay.com/blog-posts/st-lukes-transforming-patient-experience/

©2018 VisitPay All rights reserved. This content is copyrighted by VisitPay, Inc. and cannot be reproduced or shared without prior expressed written permission from VisitPay, Inc.

Improving thePatient Experience:The Next Big Opportunity in Healthcare

Thanks for reading.

https://www.forbes.com/sites/allbusiness/2017/06/28/what-we-can-all-do-about-rising-healthcare-costs/#2d90f4bb2f37

https://www.visitpay.com/blog-posts/fixing-fractured-financial-marriage-providers-patients/

https://nonprofitquarterly.org/2017/06/09/cdc-americans-high-deductible-health-plans-skyrocket-since-aca/

https://www.cnbc.com/2017/08/24/most-americans-live-paycheck-to-paycheck.html

https://www.federalreserve.gov/newsevents/pressreleases/other20180522a.htm

http://www.visitpay.com/blog-posts/health-system-cfos-need-know-patient-payor/

https://www.visitpay.com/blog-posts/st-lukes-transforming-patient-experience/

improving the patient experience - home - visitpay › wp-content › uploads › 2018 › 09 ›...

Documents