As healthcare consumerism continues to grip the industry, organizations are turning to a slate of approaches to better serve patient needs and preferences, with direct patient engagement and patient navigation serving as perhaps the most effective solutions, according to a new survey of healthcare C-suite leaders. “Consumers are demanding these changes, expecting the same level of service and personalization that they receive from entities such as Amazon, Whole Foods, and Netflix,” the survey report authors said. “Healthcare organizations that meet these expectations retain more patients and acquire new ones; those that don’t meet these expectations see their revenues fall.”
Organizations that reported scalable patient navigation systems also reported better outcomes than those without scalable services. These results underscore the importance of a multi-faceted healthcare consumerism approach. It is not enough for organizations to solely offer patient outreach tools or improve their patient relationships; they must do both. Hosting a patient navigation service that emphasizes patient relationships, taps non-clinical worker expertise, is scalable, and enhanced by patient outreach technology will be an effective strategy for supporting the shift to healthcare consumerism.
Improving Patient Navigation Lowers Healthcare Costs
Technicity was tapped by a leader in retail healthcare revenue cycle services to extend their healthcare platform to include innovative solutions for patient navigation and patient engagement. The innovations delivered pricing transparency for patients and a powerful platform from which the service provider can collect the patient’s financial responsibility – as early as the scheduling point of the process – or as late as the point of service itself. The platform increases healthcare service provider revenue and cash flow – while lowering bad debt, denials and compliance costs – all while improving the overall quality of care for the patient. Technicity provided a scalable, secure and customizable cloud-based platform that seamlessly integrates into most healthcare patient processes and systems.
“The patient saves money, saves time, and manages their deductibles and co-pays more effectively. The provider improves patient service and navigation options, reduces costs, and increases cash flow,” notes Robert Lane, EVP, Technicity. “A true win-win for the healthcare industry and an excellent example of how embracing healthcare consumerism is transforming the industry.”
The Result: In an industry where the biggest factor driving cost is where the healthcare service is provided - imagine what a more innovative and “retail approach” to patients, providers and payments could do with a patient engagement and navigation platform that dynamically shares pricing based on capacity, schedule, availability, time of day, and market price competition; optimizes the use of equipment, facilities, and personnel to maximize return on assets; Improves customer satisfaction and reduce costs by offering patient the tools to make informed decisions; increases cash flow for a capital-intensive industry by collecting payments upfront at the time of scheduling.; and reduces patient no-show events and encourage patients to follow through with needed healthcare services.
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