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2017 Patient Payment Check-Up

Presentation from HIMSS17 shares introductory findings from Navicure's first Patient Payment Check-Up™. Conducted by HIMSS Analytics and fielded in January 2017, the national survey reveals key differences in attitudes and behavior between those billing for healthcare and those paying for it.

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2017 Patient Payment Check-Up

  1. 1. 2017 Patient Payment Check-up February 20, 2017 Phil Dolan Chief Marketing Officer Navicure® Bryan Fiekers Sr. Director, Research Services HIMSS Analytics
  2. 2. What Are We Going to Cover © 2016 Navicure, Inc. All Rights Reserved. 2  About Navicure  Importance of Research  Research Methodology  Attitudes around Cost Estimates  Attitudes around Bill Payment  Opportunities for Improvement  Key Takeaways
  3. 3. Who is Navicure® © 2016 Navicure, Inc. All Rights Reserved. Navicure is a provider of cloud-based revenue cycle management solutions, each designed to: Increase Revenue Accelerate Cash Flow Reduce the Cost and Effort of Staff Integrated on a Single Platform
  4. 4. Who is Navicure® © 2016 Navicure, Inc. All Rights Reserved. Headquartered in Atlanta, GA 300+ Employees, all US-based 8,000+ Clients, 100,000+ Providers, 350+ Facilities All Care Settings, including Hospitals, & Practices Award-Winning Solutions and Service Best in KLAS, Black Book, Stevie Awards 30+ Leading EMR, PMS, HIS Partners Allscripts, eClinicalWorks, Epic, Greenway, Nextgen Healthcare Management Partners MGMA, HIMSS, AMGA, HFMA, RBMA, HBMA Partnered with Leading Investment Firm Bain Capital Private Equity
  5. 5. The Healthcare Landscape is Shifting © 2016 Navicure, Inc. All Rights Reserved. 5 • The care delivery paradigm is starting to shift from Volume to Value • EMRAM shows that organizations are becoming increasingly sophisticated related to technology • Access to data is driving a trend toward consumerism • Patient financial obligations and patient choice are at the heart of consumerism This research focused on what patients and providers are expecting from each other related to payments, and how the attitudes and expectations are changing
  6. 6. Data Collection and Analysis © 2016 Navicure, Inc. All Rights Reserved. 6 To provide insights into behavioral trends among providers and patients Through a blinded, web-based, voice- of-customer quantitative study with personnel at provider facilities and patients In order to create content around billing and payment challenges uncovered
  7. 7. Demographics © 2016 Navicure, Inc. All Rights Reserved. 7  Targeted: Executives, C-Suite, business office, financial, revenue cycle and IT leaders at hospitals and healthcare systems; providers, office managers and practice managers at outpatient facilities – Contacts via:  Recruitment: Web survey link open between January 6 and January 30, 2017  Targeted: Individuals that visited a provider setting (inpatient or outpatient) in the last 12 months  Qualifying criteria: – 18 year old or older – Not covered by parent or guardian insurance policy – Does not work for healthcare technology company  Recruitment: Web survey link open between January 16 and January 20, 2017 1,000 Respondents Patient Provider 553 Respondents
  8. 8. Generally, Patients Feel the Same Responsibility to Pay Healthcare Expenses as Other Professional Services © 2016 Navicure, Inc. All Rights Reserved. 8 86.1% 13.9% Do you feel the same responsibility to pay for healthcare services as you do other professional services, e.g. lawyer, accountant, child care, home contractor, dry cleaners, etc.? Yes No Are patients starting to expect the same ability to compare healthcare services as they do when they are shopping for a vehicle?
  9. 9. Current State: Three Quarters of Organizations are Able to Provide a Cost Estimate, but Patients Do Not Ask 9 25.3% 74.7% Is your organization able to provide patients a cost estimate upon request? No Yes 1.2% 3.7% 3.8% 5.3% 9.8% 76.2% 0% 10% 20% 30% 40% 50% 60% 70% 80% After I left; before I was billed After seeing the provider, but still in the office When I checked in After scheduling appt Prior to scheduling appt Never N = 861 Did you request a cost estimate for your last visit or procedure, and if so, when? N = 553
  10. 10. Future State: 56% of Patient Respondents Would Request a Cost Estimate in the Future © 2016 Navicure, Inc. All Rights Reserved. 10 27.9% 16.1% 2.8% 4.6% 5.1% 13.3% 30.2% 0% 5% 10% 15% 20% 25% 30% 35% No, an explanation of costs with my bill is fine Sometimes but not always, depending on the purpose of seeing my provider Yes, after I leave the office but before I receive my bill Yes, after seeing the provider, but in the office before I left Yes, when I check in before seeing my provider Yes, between scheduling my appointment and seeing my provider Yes, before scheduling my appointment N = 1,000 Would you plan to request a cost estimate from your healthcare providers in the future, and if so, when would you find it most useful?
  11. 11. Two out of Three Participants Say an Estimate Within 10% of the Actual Cost is Adequate © 2016 Navicure, Inc. All Rights Reserved. 11 1.7% 4.1% 11.5% 64.0% 18.9% 0% 10% 20% 30% 40% 50% 60% 70% Other Within 30% Within 20% Within 10% Any estimate is helpful N = 1,000 If you were to receive a patient cost estimate for a procedure or office visit, how close to your actual cost would the estimate need to be considered a good estimate?
  12. 12. Patients Tend to NOT Compare Prices; When They Do it is Impactful © 2016 Navicure, Inc. All Rights Reserved. 12 No, 86.2% Yes, 13.8% Did you compare healthcare prices between potential providers related to your last healthcare experience? 75% Of those that compared prices are between 18 and 34 17.3% 10.8% 26.6% 18.7% 26.6% 0% 5% 10% 15% 20% 25% 30% <6 7 8 9 10 N = 139 How much influence did your price comparison have?
  13. 13. Of the 25% of Providers Not Providing Cost Estimates, 44% Have No Plans to Provide 13 7.1% 7.1% 7.9% 34.3% 43.6% 0% 10% 20% 30% 40% 50% Yes, within the next 6 months Yes, within the next two years Yes, within the next year Unsure No current plan N = 140 Do you currently have plans to offer cost estimates to improve your organization’s patient experience? Why not?
  14. 14. Providers Believe Patients are Less Comfortable Submitting Their eMail Address than Patients Report to Be 14 3.6% 1.3% 1.6% 5.4% 9.5% 19.9% 58.7% 3.8% 2.9% 4.9% 12.7% 19.2% 24.4% 32.2% 0% 10% 20% 30% 40% 50% 60% 70% 1 2 3 4 5 6 7 How comfortable are you with submitting your email address to your providers when requested? Patients (N = 1,000) Providers (N = 553) Very ComfortableUncomfortable
  15. 15. If we can accurately predict costs, how do patients want to pay for services? 15
  16. 16. Current State: 90% of Organizations Send Paper Bills Through the Mail; Half of Patients Would Prefer Some Form of eBilling 16 1.8% 0.9% 12.7% 89.2% 4.2% 12.7% 17.2% 17.5% 48.4% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Electronically via text with link to view bill on a mobile device Electronically via e-mail and text to view bill wherever I am Electronically via e-mail linked to patient portal Electronically via e-mail with attachment to view bill Paper bills via the mail How do you (would you) prefer to receive bills from your providers? How does your organization send bills to patients? (select all that apply) Patient Preference (N = 1,000) Provider Billing (N = 553) 40.8%
  17. 17. Patients Report Paying Their Full Balance Much Faster than Provider Organizations Report Receiving Full Payment 17 5.2% 51.4% 22.8% 15.9% 4.7% 1.0% 4.2% 14.6% 17.7% 20.8% 18.8% 22.9% 0% 10% 20% 30% 40% 50% 60% Never paid any of what is owed Never paid some of what is owed I have not been billed yet More than 3 months Between 2-3 months Between 1-2 months Less than one month How long did you take to pay the full balance of what you owed? On average how long do your patients take to pay the full balance of what they owe? Patients (N = 96) Provider (N = 553)
  18. 18. 78% of Participants Would Authorize a Credit Card Payment of $200 or Less 18 22.3% 31.7% 46.0% 0% 10% 20% 30% 40% 50% I would refuse to provide my healthcare provider with my debit or credit card to be charged one time for what I owe, up to $200, even if it meant that I could not see my provider I would provide my card to be charged one time for what I owe up to $200 if required to see my provider; however, I would not feel comfortable doing it I would feel comfortable submitting my debit or credit card to be charged one time for what I owe, up to $200, after my insurance company pays its portion. The rest would be billed or paid via an automated payment plan. N = 1,000 In order to see the provider, if the office required you to securely store your debit/credit card in its system and charged your card for actual charges up to $200 one time only after insurance pays its responsibility, how comfortable would you feel?
  19. 19. Providers: Online Bill Pay and Securely Storing Patient Card Information would Reductions in Cost of Collections 19 1.8% 20.2% 22.0% 14.6% 10.2% 12.2% 0% 5% 10% 15% 20% 25% Other Secure credit card on file, charging one time up to $200 once patient responsibility is known Online bill pay Electronic statements Consumer credit line, e.g. CareCredit Automated payment plans What payment option do you think would be the most likely to create reductions in Cost of Collections? N = 549
  20. 20. Key Takeaways 20 Patient Cost Estimates • Provider organizations claim to be able to provide a cost estimate upon request, yet less than 25% of patients requested one • Over two-thirds of patients would find an estimate within 10% or more of their actual cost helpful. Patient Billing • Providers believe patients are less comfortable providing email addresses than patients report to be. • Over half of all patients (52%) surveyed would prefer to be billed electronically vs. paper. • Providers and patients disagree on how long it takes patients to pay. Patient Payments • Among payment methods that a provider organization can provide its patients, patients view credit card-on- file (CCOF) as their preferred method for charges of $200 or less. • Over three-quarters (78%) of patients say they would provide their debit or credit card number to be charged one time up to $200 after claim adjudication if asked by their provider. • Credit card-on-file (CCOF) is viewed by providers as the best way to improve patient collections.
  21. 21. Thank you! Phil Dolan, Navicure: 770.342.0271/ Bryan Fiekers, HIMSS Analytics: 312-497.6617/