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These slides focus on a recent study proving the link between patient satisfaction, billing experiences and clinical satisfaction and how it affects self-pay collections.
We know that patient loyalty is influenced by how patients are treated during the billing process, post-care. Viewers of these slides will learn the details of this recent study, including:
• 23% of hospital patients who received bills for services expressed discontent with the billing process
• Among these patients who were dissatisfied with their hospital billing experience, only 63% of them were satisfied with the clinical treatment they received. By comparison, among patients who were satisfied with the billing experience, 93% were satisfied with their clinical treatment
• Among uninsured patients, 76% thought the amount they owed the hospital was incorrect; while 55% of patients with responsibility after insurance said they were uncertain that the amount owed was correct
Billing issues appear to directly impact customer satisfaction with the hospital and affect a patient’s
willingness to refer the hospital to a friend – a measure proven to be connected to customer loyalty and correlated to customer lifecycle profitability. There is a major opportunity to improve the total patient experience by improving the billing process. With the rapid growth in lives covered by high deductible health plans and health savings accounts, the short term cash at risk and long term customer loyalty issues suggested by this research are only going to increase. Providers should to start now to build their organizational competencies to ultimately increase self-pay collections.