The recent pandemic has forced us to make changes on a scale. In many cases, the changes are, in reality, an exponentially increased utilization of already existing practices. With the new normal forever altering the ways in which revenue cycle management companies engage with the patient, here’s what the patient experience and revenue cycle will look like as we move ahead.
Patient experience
- Transforming communication methods
The transition to our new routine has revealed gaps in patient communication and opportunities. This is especially when you get to improve the process. Patients are showing an increased openness to new technology, including automated digital communication. Automated communication is desirable. Email is the most popular method for scheduling. Other areas include patient follow-ups, financial communication and patient education.
These are affordable means that help improve patient communication and the overall patient experience without adding more staff.
- Rise of Telehealth
Earlier, the patient didn’t prefer telehealth services. However, the rise in pandemics has also focused on the importance of telehealth services. Moreover, the patients have embraced that change, leading experts to predict more than one billion virtual care visits. Besides, the necessities of social distancing have accelerated the adoption of telehealth, just as at-home diagnostic equipment has improved the level of care.
Patients have discovered how convenient, effective and efficient it can be. As a result, many are not likely to go back to the old way.
The revenue cycle is the new normal
Digital access
The shift towards digital communication and telehealth aligns clinicians and office staff. Revenue cycle management companies help reassess their more traditional patient experience models and decide where to invest in digital access.
With the automation technology, patients can now experience streamlined ease of virtual check-in and time-saving online forms. The remote eligibility checks and digital capture of patient medical history/billing information ensure a smoother, more productive visit for patients. In addition, there’s a reduced chance of claim errors for providers.
Transparency in price and payment
The recent pandemic has made Americans lose their health insurance. Unfortunately, this only served to increase the already significant demand for healthcare price transparency. While patient consumerism is a growing trend, healthcare debt collection firms equally focus on the significance of cost-conscious behaviour. The price transparency should cover:
- Cost of care conversations
- Accurate out-of-pocket estimates
- Cost distress and propensity to pay to screen
- Patient financing and financial aid programs
Emphasis on efficiency
Even a large portion of preventative care was brought to a screeching halt in 2020; this fallout was a financial crisis for many healthcare service providers. As they continue to seek solutions to deal with the shortfall, revenue cycle management companies put a greater emphasis on avoiding waste and going for new methods to make the entire revenue cycle efficient. Some of the key specifications include:
- Automated workflows
- Revenue cycle outsourcing
- Payment portals
- Automated communication
These solutions have been good ideas worth consideration. Many providers still find themselves highly motivated when implementing them during the financial struggles. Implementing cost-saving measures helps healthcare firms optimize revenue cycles in the future.
Empathy driven service
There’s a need for human connection, compassion, understanding and empathy. Automation can be highly advanced; however, there’s a need for essential human touch. There are moments of truth that can have a lasting impact; however, this involves a large amount of emotional energy, including resolving an issue or making a life-impacting care decision.
Conclusion
The new normal is here with both revenue cycle and patient experience combining efficient technology and personal human connection. So schedule your consultation with the industry experts today. We’ll be more than happy to address all your needs.
