White Paper: How Patient Access Can Improve Satisfaction and Financial Health

By nThrive | Posted: 06/19/2017

It is no secret that high insurance deductible plans are placing a greater cost burden on patients, contributing to rising hospital bad debt. This and other market forces, such as growing pressure for greater price transparency, are driving a need for health care organizations to provide accurate cost estimating upfront for health care services.

According to two independent health policy organizations, Catalyst for Payment Reform and Healthcare Incentives Improvement Institute, 43 states failed in 2016 to meet even the minimum standards for price transparency based on availability of accurate and usable price information.

Despite these pressures, many organizations have yet to redesign their Patient Access operations with automated estimating capabilities, optimized processes and additional training for patient access representatives, who are challenged with explaining benefits and out-of-pocket costs when asking for payment prior to service. 

Without these improvements, the problem of bad debt is only likely to get worse, resulting in:

  • Low point-of-service collections and increased A/R days
  • Poor staff productivity and high turnover
  • Lack of price transparency creating a compliance risk
  • Patient frustration leading to comparison “shopping” and low satisfaction scores

The solution to reducing bad debt and its resulting negative impact on your organization revolves around people, process and technology, putting the patient at the center of your workflow by tapping into their individual circumstance.

At nThrive, we help clients address today’s evolving Patient Access needs from Patient-to-Payment℠, improving transparency while meeting the demands of today’s savvy consumer. Be the first to register for our latest white paper: “How Patient Access can improve satisfaction and financial health.” You’ll learn how organizations like yours have turned around their estimating process, significantly improved point-of-service collections and, most importantly, increasing credibility with patients, who appreciated an accurate estimate on their out-of-pocket costs, both to price compare and adequately manage their financial obligation.