This bears repeating: good patient financial experiences should be standard practice. Currently, they are anything but standard.
Sadly, for many people, patient experience is a matter of life and death. Every decision made in the healthcare sector (whether it’s how frequently a patient should be seen, or when to administer treatment) has an impact far beyond that decision point. And every provider, naturally, wants the best outcomes for their patients. Achieving these outcomes requires consideration of every aspect of the patient experience — from the bank to the bedside.
According to a study in the Annals of Family Medicine, the average amount of time that a doctor spent on an individual patient visit was 17.5 minutes. That leaves a lot of time to form an impression of a practice.
Optimal patient health is the collective goal of the healthcare industry, but in order to provide high-quality care that keeps patients healthy, providers need to be fiscally healthy themselves. Good patient financial management is a crucial part of this health: Keeping revenue high while strong patient relationships.
By John Ziegler (CFO)
By John Ziegler