By Bird Blitch, CEO
If there is one certainty for hospitals and healthcare organizations, it’s that the cost of healthcare continues to rise. The real question is: what can be done to manage it?
Healthcare Reform is always a hot topic. Our government is proactively driving lots of changes to help confront those rising costs, but even larger problems loom on the horizon:
Furthermore, in the US, “who is paying for healthcare” is dangerously shifting from the Employer/Payor to the Patient at an alarmingly fast rate.
As a result, we are seeing an unprecedented urgency to focus on the patient financial experience. How could you use technology to help Providers help their patients understand what they are paying for? Are there some examples from other consumer industries that we can we learn from? Wouldn’t it be nice for a Healthcare IT company to focus on the Patient like the consumers they are? Of course!
As I was pondering this, I came across this tweet and realized there is a golden chance to elevate this discussion because Amazon is best known for “one click payments” for Consumers and Retailers.
Truly? Like Amazon for healthcare? We’re all ears! MT @Doctor_V: RIMEDIO,New Model for Health Care https://33charts.com/2013/07/rimedio.html (sponsored)
So why was Amazon’s “one click purchase” so innovative?
It’s so simple that it might not sound like a big deal, but IT IS A BIG DEAL. Amazon isn’t about buying books online, although that’s where they started. It’s really about Consumer Financial Engagement where the Consumer is in control. What most don’t realize is that the Retailer who sells through Amazon also benefits from this consumer focus. When you put all the retailers together in one place, say hello to checking out with ONE vendor, ONE receipt and visibility to everything that’s being delivered to your front door.
Consumers loved it for it’s simplicity and convenience. Retailers loved it for the fact that they were there in front of the consumers they wanted and Amazon facilitated everything! In fact, most sell more via Amazon than their very own websites. What if a company could provide a similar experience for you and your patients? With “ONE click” that benefited Patients and Providers? This requires us to “Think like Amazon” in healthcare.
For the billing office, gone would be the days of reconciling lots of thermal copay receipts from old credit card machines used when patients check in at the doctor’s office. There would be no more waiting around for delayed payment deposits from disparate point solutions. For the patient, it would be the end of multiple bills from multiple providers for one single visit to the Hospital. Patients could also say goodbye to unexpected collection letters arriving because they forgot to pay a bill that they didn’t know was past due.
A huge positive shift would occur because someone finally put the needs of the patient and provider into one solution. With ONE CLICK from their online PatientWallet™, a patient could manage and pay for everything.
Amazon simplified shopping for both the Retailer and Consumer, why can’t someone simplify healthcare payments?
It can happen, but only when Healthcare IT companies choose to put the Patient’s financial interests first. It’s not an afterthought. It’s THE thought. Without patients, there would be no healthcare industry. From Pre-service to Point-of-Service to Post-Service, it’s all about the patient.
Those companies who choose this philosophy are part of a larger movement called Patient Financial Engagement. We are one of those companies. Making healthcare payments convenient and easy for patients for the mutual benefit of patients and providers is what we do. If you’re interested in learning more, we’d love to continue the conversation with you.Tags: healthcare, healthcare IT, learning, patient financial responsibility, patient payments, patientco