Patientco has always been deeply invested in the success of our clients. That’s why when we see one of our clients taking their revenue cycle performance to the next level, we like to share the news! Today, we’ll dive into our partnership with Roper St. Francis Healthcare and hear about their success with Patientco and most recently, Digital-First Billing.
Patientco & Roper St. Francis Healthcare: A History of Success
Roper St. Francis has a strong connection with the tight-knit Charleston community, where the health system has served patients for more than 160 years. Providing a superior patient experience has always been a priority for Roper St. Francis Healthcare and for that reason, Roper St. Francis partnered with Patientco in 2014 to enhance the patient financial experience. Roper St. Francis first implemented Patientco for its physician group and ultimately chose to roll out the billing and payment platform across the health system.
Driving Engagement with a Digital-First Approach
After Roper St. Francis’ success with Patientco’s billing and payment platform, the health system’s physician group deployed Digital-First Billing. Roper St. Francis’ commitment to their community influenced their initiative to increase digital engagement with patients, as many patients prefer web or mobile options over traditional paper mail when it comes to financial communications. With Digital-First Billing, Roper St. Francis patients first receive their statement via their preferred digital channel, like email or text instead of paper mail.
The Digital-First Billing Difference
Through their collaborative partnership with Patientco, Roper St. Francis provides a billing and payment experience that’s aligned with what today’s patients expect. At the same time, Patientco has helped Roper St. Francis generate meaningful financial results, positioning the health system to continue serving as the leading provider for the Lowcountry.
Roper St. Francis’ Results from Digital-First Billing
1. Reduced Average Days to Pay by 1 Week
With Digital-First Billing, patients don’t have to wait for their statement to show up in the mail. As a result, Roper St. Francis saw a reduction in average days to pay by one week, leading to accelerated cash for Roper St. Francis because patients receive their statements much faster digitally than they would by mail.
2. Doubled PatientWallet Adoption
Once patients receive their electronic statement (eBill), they are immediately prompted to pay using the PatientWallet, Patientco’s intuitive, self-service payment portal. The process of making a payment is now so easy that Roper St. Francis has doubled its PatientWallet adoption in just two months. Also, it’s not just younger patients who have embraced the online payment portal. Roper St. Francis experienced a 7x increase in patient portal adoption by patients over the age of 65 when they began using Digital-First Billing.
3. Increased Self-Service, Online Payments by 40%
More PatientWallet users leads to more online, self-service patient payments since patients are more likely to make a payment digitally after receiving a bill digitally. With higher engagement through the PatientWallet, Roper St. Francis saw an overall 40% increase in self-service, online payments within one year.
4. 8% Higher Patient Net Promotor Scores
Additionally, patients are surveyed after making a payment and patients who receive Digital-First Bills are more satisfied and likely to refer their network to Roper St. Francis compared to patients who receive a traditional paper statement. The Net Promoter Score (NPS) for patients who receive Digital-First Bills is +52. This is nearly 4X higher than the NPS industry standard for health systems, which is +16.