Patient satisfaction is essential for a healthy revenue cycle
With the cost of healthcare increasingly shifting toward consumers, patients expect more from their providers. Additionally, this shift toward healthcare consumerism has empowered patients to take a more active role in their healthcare. If a health system doesn’t pay attention to patient satisfaction, it may lose patients or receive lower satisfaction scores. Both of these outcomes can cost a health system a great deal of money, especially when considering what a loyal patient is worth. One way health systems can improve patient satisfaction rates is by improving the patient billing and payment experience.
It’s critical to create a positive patient financial experience to keep patients happy. The payment process is often the last touch-point a patient has with a provider, so it’s important to make this interaction positive. Similarly, if a patient has a negative payment experience, this negative feeling can influence the perception of their overall care experience with a health system.
Here at Patientco, we believe making it easy for patients to pay their healthcare bills is crucial for long-term health system growth. The best part? Patients notice. Over 94 percent of patients using our system give Patientco a ‘thumbs up’ when asked to review their online bill pay experience. This means a lot to us, because, at our core, we believe patients deserve better than the status quo.
This is why we do what we do
We love patients, and they show us the love right back. Check out some of the things they say about their Patientco payment experience:
1. “This was the easiest bill paying I have ever done! Took seconds! I was expecting the worst and could not believe how easy it was!! THANKS!”
2. “The entire process from beginning to end was clear, concise and easy to work. The whole site had a fresh, new modern look and feel that made it a pleasure to work in. The directions from setting up a new account to paying the bill took less than fifteen minutes – AWESOME! I very much enjoyed using the software to pay my bill each month… Kudos to the Patientco team!!”
3. “Very easy for an 80-year-old to follow that loves online paying bills, LOL Thanks.”
4. “Your online payment system is SOOO AWESOME!! One request, could you teach every other business to do online payments so conveniently and painlessly? You are the best!!!!!!!! No aggravation and I am happy after paying a bill!!!!!”
5. “Easy to setup and easy to pay. 10/10 would pay absurd medical expenses again!”
6. “IT WAS GREAT THANK YOU.”
7. “Smiley face for paying bills? Who likes paying bills?! HOWEVER, Patientco made it SUPER easy. Thank you.”
8. “Probably the easiest payment I’ve ever made online, it’s about time someone simplified medical billing.”
9. “Best experience paying online. Kudos to the developer and staff for making it easy to pay your bill.”
10. “I wish everything I did online was this easy. How pleasant life could be then!!!”
11. “PATIENTCO IS PERFECT!”
Talk about satisfied patients!
It’s a win-win situation
Not only do patients have better overall experiences when they have a positive financial experience, but they also pay providers more. We’ve found that offering superior patient-facing technology significantly grows patient payments. Patientco clients see self-service payments grow by as much as 200 percent. Furthermore, our clients see up to a 30 percent increase in POS payment rates. Just goes to show, patients really do pay more if their financial experience is exemplary.