Financial recovery after COVID-19 is likely to be a slow burn for most healthcare organizations, according to a recent survey. Nearly 90% of healthcare executives expect revenue to drop below pre-pandemic levels by the end of 2020, with one in five anticipating a hit greater than 30%. While the return of elective procedures will be a lifeline for many hospitals and health systems, the road to financial recovery remains fraught with obstacles: Five months of canceled and postponed procedures need to be rescheduledWorried patients must be reassured of hygiene measures, so they feel safe to attend appointmentsPatient intake and payment processes must be modified, in order to minimize face-to-face contactAs the rate of infection continues to grow, providers must find new ways to also grow their revenue and protect against a further dent in profits. The healthcare industry is unlikely to see the recovery curve hoped for across the wider economy, but digital technology, automation and advanced data analytics could help provider finances to bounce back more quickly. 4 ways technology can accelerate your post-pandemic financial recovery 1. Easy and convenient patient scheduling unlocks your digital front door Patients want to reschedule appointments that were postponed or canceled over the last few months. To manage the backlog and minimize pressure on staff, consider using a digital patient scheduling platform, so patients can book their appointments online. A self-scheduling system that incorporates real-time scheduling and calendar reminders will help to create a positive consumer experience, while offering analytics and behind-the-scenes integration to keep your call center operations running smoothly. 2. Secure and convenient mobile technology can enhance your telehealth services Telehealth is the top choice for many hospitals looking to boost revenue growth and counter the impact of COVID-19, with two-thirds of executives expecting to use telehealth at least five times more than before the coronavirus hit. Many new digital tools and strategies designed to improve the patient journey as a whole can support telehealth delivery, and help to meet growing consumer demand for virtual care. For those beginning their telehealth journey, our COVID-19 Resource Center, which offers free access to telehealth payer policy alerts, may be the place to start. 3. A digital patient intake experience can lessen fears of exposure Although many providers are starting to open up for routine in-person appointments again, patients may wonder if it’s safe. Proactive communication about the measures in place to protect staff and patients will be essential. Another way to minimize concern is to allow as many patient intake tasks as possible to be completed online. Automating patient access through the patient portal can give patients quicker and more convenient ways to complete pre-registration, while contactless payment methods are a safe way to settle bills without setting foot in the provider’s office. 4. Optimize collections to bolster financial recoveryAutomation can also play a huge role in helping providers tighten up their revenue cycle, find new ways to enhance accounts receivable collections and avoid bad debt. Tools such as Coverage Discovery and Patient Financial Clearance enable providers to find missing or forgotten coverage, and help the patient manage any remaining balances in a sensitive and personalized way. Palo Pinto General Hospital uses automated coverage checks to find out whether a patient is eligible for charitable assistance within three seconds, so self-pay accounts can be directed to the most appropriate payment plan before the patient even comes in for treatment. With fewer accounts being written off, Palo Pinto has seen a noticeable improvement to their bottom line. The pandemic has been a wake-up call for an industry that has been traditionally slow to adopt new technologies. Ahead of a second wave of COVID-19, providers must move now to take advantage of automation and digital strategies to speed up financial recovery. Contact us to find out how we can help your organization use technology to improve the patient experience, increase efficiencies and kickstart your revenue cycle.
The focus on improving health plan member engagement and overall experience has been steadily growing over the years, much of it being driven by the push towards a more consumer-friendly healthcare experience. James Beem, Managing Director, Global Healthcare Intelligence at J.D. Power, states, “health plans are doing a good job managing the operational aspects of their businesses, but they are having a harder time addressing the expectations members have based on their experiences in other industries where their service needs are more effectively addressed with better technology.” His remarks are based off of findings from the annual Commercial Member Health Plan Study, which also found that care coordination between different providers and care settings is a top challenge health plans are facing today. Most of our conversations with health plan prospects and customers revolve around how digital technology can improve health plan member engagement and close gaps in care. From our experience, here are five key digital strategies that health plans can employ to better engage members and improve satisfaction. Call centers remain a cornerstone of member engagement. From onboarding new members to closing gaps in care, the call center is where the rubber meets the road between health plans and their members. At Experian Health, we focus on making it easier for call center agents to find and book appointments on behalf of members – specifically, we eliminate the need for three-way calls with providers by giving agents access to a digital scheduling platform. It automates providers’ scheduling rules, while also protecting their calendars, and allows health plans to schedule appointments for members without having to call the provider office. In some cases, once our platform is in place, we’ve seen scheduling rates increase by 140%, call times cut in half, and show rates go up. A large factor in social determinants of health is the availability of transportation – are your members physically able to make it to and from their appointment? While members may know what care they need and are able to book an appointment, they may not be able to show up for that appointment due to unreliable or non-existent transportation. The member doesn’t show, the care gap remains, and health plans take a hit on quality metrics. What’s worse, the member puts themselves at risk for readmission or other, costly trips to the ED for care that remains unaddressed – all an expensive medical cost for the plan. We are proud to work with transportation vendors and ultimately, include the ability to schedule transportation in a workflow while booking an appointment. By facilitating easy access to transportation as part of the appointment scheduling process, we are ensuring a better outcome for everyone. Why not offer the functionality that consumers are accustomed to in nearly every other industry? Booking a hotel, flight, or dinner reservation can all be done online via a mobile device, so why not an appointment? Imagine being able to extend this type of convenience and consumer-friendly experience to your members. They come to the health plan’s site or app to search for an in-network provider and can then schedule an appointment in real-time, on the spot, day or night, no phone call required. Instead of simply sending members text and phone call reminders to schedule care, health plans can use automated outreach to send those messages with the ability to schedule an appointment via self-service. The member would receive a text message or phone call, and after confirming their identity, would receive their personal health-related message along with the ability to schedule an appointment as part of the outreach process. In a few clicks, or with a few verbal responses, the appointment is scheduled, and the care gap is closed with very minimal effort. The struggle to find and maintain accurate contact info for members is real. Fortunately, Experian Health has unprecedented access to consumer data. With the largest consumer database, collected on more than 300 million consumers, we can provide a deeper understanding of your current members or prospects in your markets. These data assets can enable the most effective marketing and communication strategies to improve enrollment rates as members are more successfully identified and reached. The data can also be leveraged to enhance internal analytics, like member risk score algorithms or other models, to improve member outcomes. Learn more about how a digital care coordination platform can help your organization improve member engagement and the member experience.
Many patients today are forced to call the doctor to schedule an appointment. These phone calls are often inconvenient: patients are required to call during a provider’s business hours, a single call can sometimes take up to 20 minutes, or the patient may end up playing phone tag until an appointment is finally booked. The entire process bodes for a poor patient experience, but also hinders access to care as staff are only able to manage a number of phone calls per day. Like many healthcare organizations today, The Iowa Clinic wanted to improve access to care for its patients, removing the many barriers that come with having to call to schedule an appointment. Requiring a solution that could both improve patient satisfaction and operational efficiencies, the clinic, which schedules more than 600,000 appointments per year across multiple specialties, turned to online self-scheduling. With online self-scheduling, patients of The Iowa Clinic have the ability to self-schedule directly into provider’s calendars in real time from a computer or mobile device. During the booking process, patients are asked a series of brief questions and their answers are used to guide them to the right provider and appointment based on their specific care need. Appointments can be booked any time of day or night. Since implementing online self-scheduling, The Iowa Clinic has not only improved access for patients, but has enhanced operations throughout the call center, seen growth in patient acquisition and has achieved higher than average show rates. Results include: At least 15% of all appointments booked came from online during the first eight monthsThe centralized call center has seen a 30% reduction in the number of scheduling callsAt least 8 new patient appointments are booked online per provider per month Patient show rates are at 97% for appointments scheduled online Learn more about online self-scheduling and how it can help to improve patient access for your organization. “Patient Schedule allows us to improve the experience by offering a simple, convenient way to schedule an appointment online.”- C. Edward Brown, CEO, The Iowa Clinic
