Enhancing patient experience improves patient payments.
That’s right, it turns out that when patients have a good experience in dealing with your billing office, they are much more likely to pay in a timely manner. At DocFinancial we help you create a positive patient relationship early in the transaction. There’s research to back this up:
- The Connance Consumer Impact Survey of 2018 found that over 75% of patients paid their bills either in full or in negotiated payment plans when they were satisfied with their billing department experience.
- Fewer than 50% of patients paid their bills when they reported a bad experience
So who does your billing really does matter. Offering them the convenience of a patient portal as a bill payment option also matters. How patients respond to billing choice depends somewhat on age. The same study yielded these observations:
- 45% of patients aged 27-39 want to pay bills through an online portal
- 80% of patients aged 65+ prefer a mailed bill, or giving credit card details over the phone
- 50+% said billing interactions were more than satisfactory but wanted these improvements:
- More payment options
- Patient centered and simplified medical bills
- Access to payment
We help our clients provide the service their patients want, that also enhances the payment and revenue cycle for the practice. Find out more about our Payment Portal.