How the right patient pay solution benefits both practices and patients
Research is clear that the financial impact of a cancer diagnosis has a direct correlation to patient survival. Patients who are forced to declare bankruptcy because of treatment costs have a 79% increase in their mortality risk. Simply put, the ability to benefit from treatment advancements actually depends on patients’ ability to pay for them.
That’s one of the many reasons oncology practice’s patient pay processes are critical – to the patient, and also to the practice. While practices benefit from increased revenue and streamlined operations, PatientFocus’ integrated patient pay solution also offers advantages to patients as well, including:
Patient Pay Solution No. 1: Consistency
85% of patients say a consistent billing and payment experience is an important factor in their healthcare. That’s why PatientFocus emphasizes consistency in the timing, form and origination of all patient billing communication. That includes synchronizing statements, emails and phone calls with a mobile-friendly patient web portal.
Patient Pay Solution No. 2: Convenience
Oncology treatment is state-of-the-art. Unfortunately, the billing process often isn’t. This gap can lead to confusion, frustration, and slower payments. We provide patients online access to all their billing information 24/7 via a HIPAA-compliant web portal. Patients have access to the latest billing information and multiple payment options, or they can speak with a billing agent who can answer their questions and assist them in navigating the process. It’s this seamless integration of technology and billing experts that provides the higher level of care and experience patients expect
Patient Pay Solution No. 3: Clarity
60% of patients delay payment because they don’t understand a bill or believe their insurance should have covered a procedure. The PatientFocus team specializes in turning complex data into statements that make sense for patients. Our patient engagement center is staffed by professionals with an average of 4+ years in oncology patient billing, making them uniquely qualified to help patients navigate payment process complexities.
As oncology providers continue to focus on treating the whole patient, the patient pay solution process should also be a high priority – for the obvious benefits to revenue streams and resources, but also for enhanced quality scores: 78% of patients say the payment process after treatment effects how they feel about their healthcare provider. The end result of an improved patient pay process is often higher patient satisfaction. Interested in learning more about how PatientFocus’ payment solutions can benefit your practice and your patients?
