3 Findings From Patientco’s State of the Industry Survey

This week, Patientco released the results of a survey we issued to healthcare providers last month. The questions focused on payment methods offered to patients by providers as well as areas of focus regarding payments for the coming year. You can view the full survey report here.

Here are 3 interesting findings from the report:

Patient satisfaction is a top concern for 86% of healthcare providers.

Along with collecting payments upfront (84%), patient satisfaction was the top concern for healthcare providers regarding patient financial experience. As technology tools and social media increase transparency and consumerism, providers are taking steps to improve the non-clinical aspects of patient experience.

Over half of providers (52%) surveyed have not switched to EMV-compliant credit card terminals.

While the deadline to switch to EMV-enabled credit card processing was in October 2015, many providers are willing to risk liability for chargebacks and other security issues by not making the switch in time. To learn more about EMV and healthcare payments, please check out our e-book, The Healthcare Provider’s Guide to Selecting a Payment Processor.

Online Bill Pay is the payment technology providers are most interested in offering in the future.

Studies show that 78% of consumers prefer to pay their bills online, but almost half of the healthcare providers (44%) surveyed do not currently offer an online payment option. Providers who don’t offer an online payment option may face increased A/R days and decreased patient satisfaction.

To view the full survey report, click here.