Digital Payment Progress Report:  Patient Payment Offerings Growing to Meet Demand
3 ways practices have an edge over hospitals
By comparing data from the two provider surveys, we found practices have some interesting advantages:
1 More ambulatory organizations can provide a cost estimate than hospitals.
Ambulatory Organizations
can provide patients a cost estimate upon request
Why the difference?
More predictable services provided in a doctor’s office make it easier to provide a cost estimate.
Insight: Practices should take advantage of their greater propensity to provide cost estimates to gain a competitive advantage over hospitals.
2 Group practices believe patients are more comfortable providing their information than hospitals
Why the difference?
Providers in smaller group practices typically have a more intimate and personal relationship with patients than hospitals.
Insight: Leveraging email addresses and electronic billing offers healthcare organizations an opportunity to save the industry millions of dollars in cost, environmental waste and days in A/R.
3 Patients take longer to pay their hospital bill in full
Group Practices
report that it takes patients more than 6 months to pay their balance in full
Why the difference?
Cost of services is typically lower for group practices compared to hospital visits.
Insight: Providing a cost estimate and establishing a payment plan can help make payments more manageable for patients.
The Digital Payment Progress Report of MGMA providers builds upon and overwhelmingly validates our 2017 Patient Payment Check-Up report, which surveyed both providers and patients and was conducted by HIMSS Analytics. Find out the key findings and discover how your organization can better embrace digital payment options to improve your revenue cycle.
Learn how Navicure® can help your organization improve patient satisfaction and patient revenue by providing automated price estimates and convenient payment options. Request a guided tour today.
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