The pandemic has caused sweeping changes for many industries, with healthcare undoubtedly being the most affected. Healthcare companies have seen a huge influx of patients during this time, leaving many organizations dealing with financial constraints, while patients struggle with the unforeseen costs of treatment. These stresses have made medical facilities not only look for ways to lessen the administrative burden on their staff to collect payments, but to find ways to make it easier for patients to make them. For this reason, the task of improving the patient financial experience is taking center stage.
Credence Global Solutions offers unique technology that can help healthcare organizations with this goal. Our iConnect is an advanced patient engagement platform that can transform patient financial experience. Here are some of the benefits that transitioning to the iConnect platform can have for your organization:
1. Increase Patient Satisfaction and Retention
By providing your patients with an improved financial experience, you can reduce their worry, especially during this time of increased stress for everyone. Many patients have experienced unexpected healthcare bills during the past year, so every step you take to make it easier for your patients receive, understand, and handle these bills at this time will be remembered. Patients will notice the extra effort, which will translate to overall satisfaction and long-term retention.
2. Maximize Collections
With an improved patient financial experience from iConnect, you’ll increase the likelihood that your patients will pay their bills. By meeting your patients where they are—whatever device or communication platform—and with payment options that are sufficiently flexible to them, you are giving your patients the best possible chances of taking action. Remember that any action they take translates to improved collections and increased cash flow.
3. Track Revenue Cycles
With iConnect, not only can you help make sure that your patients pay their bills, you can help make sure they pay them on time. With our platform, billing reminders are sent via patients’ preferred method of communications, but are timed to their date of services and coordinated with your organization’s revenue cycle. Our platform therefore helps you streamline incoming revenue streams and meet monthly cash flow requirements.
4. Understand Patient Behavior
iConnect gives you complete visibility on a number of metrics that help you understand patient behavior. You’ll have the ability to see which patients pay and when, so you’ll know the best collection times, channels, and strategies. With a detailed payment report for each client, you’ll also be able to avoid any patient payment disputes. Having this information helps you make better-informed business decisions.
Empowering Transformation with iConnect
Giving your patients fast access to accurate information and payment options leads to a better experience for them, but also a better financial outcome for you. It’s a win-win that leads to satisfied patients as well as a healthier bottom line for the organizations providing care. iConnect is a powerful patient engagement platform that your patients can rely on for dependable, accurate, complete information and payment flexibility that can be a relief for them during this time of unexpected medical bills.
Transform your healthcare organization by calling Credence Global Solutions. We provide demonstrations on iConnect that will show you how powerful this platform truly is. Loaded with convenient options to increase patient satisfaction and streamline your cashflow, it’s a must-have for any organization. Contact us today for a demonstration.