A personalized patient experience is the cornerstone of modern healthcare
A personalized patient experience is the foundation of modern healthcare success, and healthcare providers can drive better financial outcomes by continuously enhancing the healthcare experience.
Today’s healthcare consumer expects a seamless, convenient, and transparent journey in their healthcare interactions. They want systems that adapt to their unique preferences, making their healthcare experience as smooth and tailored as possible.
Providers are realizing the significant advantages of personalized patient care. Engaged customers are more likely to stick to their treatment plans, actively communicate with healthcare professionals, and take charge of managing administrative tasks such as billing and payments. Personalized patient experiences have become a cornerstone of successful healthcare strategies in today's highly competitive market.
Crafting a personalized experience requires dedication and understanding. It’s about delving into each patient’s unique preferences and building systems that respond accordingly. Thanks to evolving technologies, healthcare providers can now track patient preferences and habits with precision. Data empowers providers to create experiences that align seamlessly with the ways each patient naturally engages with their care journey, from pre-visit to post-visit interactions.
So, what does positive patient engagement look like in 2024 and beyond?
1. Digital Patient Experience
Patients want the flexibility to communicate seamlessly, from check-in to payment, without the need for physical presence. This presents an opportunity not only to educate patients but to establish trust. A well-executed digital experience can also set expectations around service and payment, helping patients to anticipate costs.
This digital experience can take various forms, including desktop or mobile platforms, or even digital self-serve options in healthcare offices. It’s essential to offer a range of mediums to ensure the digital experience meets diverse patient preferences. This flexibility is key to creating a truly personalized experience.
The impact of digital interactions on patient experience and retention is significant. Patients who do not receive a satisfactory digital experience are likely to seek alternatives, leading to patient attrition. On the other hand, patients who opt for digital interactions tend to have higher satisfaction scores, as evidenced by metrics such as Net Promoter Scores (NPS), where digital users often score 10% higher in customer satisfaction compared to non-digital users.
2. Convenience at Every Engagement Point
Accessing healthcare should seamlessly integrate into a patient's day, rather than consume it entirely. Patients are increasingly choosing providers based on accessibility. Gone are the days of loyalty barriers, where patients would endure long waits to see their primary care doctor. Today, they prioritize quick and convenient experiences.
A truly convenient experience entails a streamlined appointment system, remote check-in options via an app, and real-time visibility into wait times. Implementing a multifunctional digital system can further eliminate the need for paper forms, which can improve data quality and consistency, and the overall patient experience while also increasing office efficiency.
Self-service options are an increasingly important component of convenience. Patients prefer the autonomy and efficiency of self-service, while providers benefit from cost savings. These savings can be reinvested into enhanced facilities or expanded clinical services. For instance, leveraging self-service opportunities enabled one RevSpring client to increase its number of clinics and offset costs while maintaining growth.
3. Tailored Communication
A solid communication system offers key benefits to patients: digital, user-friendly, tailored to patient preferences, and convenient. Providers should know whether a patient prefers text messages instead of emails, their preference for paper or digital statements, and their payment habits.
A personalized communication experience considers a patient's capabilities and tendencies. For instance, some patients prefer paying a large bill upfront, while others prefer smaller monthly payments. By leveraging behavioral data and preferences, providers can avoid unsuccessful attempts to collect payments through phone calls or emails. This not only saves costs for providers but ensures a more satisfactory experience for patients.
However, implementing such a system is not without its challenges. For example, some patients may request e-statements but fail to check their emails regularly. While they may express a preference for email communication, their behavior shows a stronger response to text message reminders for appointments or payments. Providers must understand these nuanced differences, adjust accordingly, and create an experience that aligns with how patients actually use the available systems.
4. Transparent Payments
Healthcare stands out as one of the few services where the cost is often unclear upfront, presenting a challenge for providers to navigate. Patients need accurate cost estimates beforehand, along with clear payment options, including the possibility of payment plans.
Patients no longer tolerate surprise bills; they demand to understand their financial responsibility before receiving care. Failure to provide this transparency may lead patients to explore alternate providers.
However, payment transparency is just the beginning of creating a personalized payment strategy. Patients also seek a range of payment methods and a seamless transaction process. This includes touchless options, deviceless payments, and pay-by-text alternatives. Especially during times of illness or caregiving, patients prefer not to deal with paperwork or credit card handovers. RevSpring data shows storing payment information securely or using OCR technology streamlines the payment collection process and leads to a 22% increase in clean rates for providers.
At RevSpring, we believe simplicity is key when it comes to payments. Our QuickPay system exemplifies this with a straightforward payment experience. Patients can make a payment by providing their name and birthdate, bypassing the hassle of creating yet another username and password. This approach eliminates barriers that can hinder payment attempts, as patients often abandon processes that require additional credentials.
Overall, patients expect multiple payment options in their healthcare experience, and providers must prioritize simplicity and transparency to meet these demands.
Conclusion
Together, RevSpring and KeyBank focus on helping providers meet evolving patient expectations. It's about actively engaging with patients and creating processes that cater to their unique needs. That's how we drive better patient care and improve your bottom line.
But the journey doesn't end there. Healthcare is constantly evolving, and our approach to patient engagement must evolve with it. It’s about staying ahead of the curve and listening closely to patient feedback to continuously enhance the healthcare experience.
So, remember, a personalized patient experience is the foundation of modern healthcare success. By embracing personalization, leveraging cutting-edge technologies, and prioritizing patient-centricity, healthcare providers can build stronger patient relationships, drive better outcomes, and thrive in an increasingly competitive market.
Scott MacKenzie is the Chief Executive Officer of RevSpring. Scott is a veteran of healthcare industry technology, with over 25 years of leadership experience in consumer engagement, analytics, payments, and digital transformation.
About RevSpring
RevSpring is a leading end-to-end platform for consumer-driven engagement and payments. The company has built the industry’s most comprehensive and impactful patient and consumer engagement suite backed by behavior analysis, propensity-to-pay scoring, contextual messaging, and user experience best practices. Using proprietary data analytics to tailor the engagement from preservice to post-service to payment, RevSpring improves the patient experience and outcomes for providers, members and patients, and other industries focused on payments. To learn more, visit revspringinc.com.
About Key Healthcare®
Key Healthcare provides a holistic approach and deep industry expertise customized to our clients’ needs. Key Healthcare’s comprehensive capabilities include investment banking, real estate, treasury management, and financing solutions. Nearly 10,000 clients rely on Key Healthcare to deliver strategic and innovative solutions that address today's healthcare challenges and opportunities. Visit key.com/healthcare to learn more.
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