Fewer patients are paying their bills. New white paper lays out 5 tech-driven best practices to overcome payment hurdles.
CORAL SPRINGS, FL, May 8, 2024—With unpaid patient balances after insurance growing at an alarming rate, healthcare revenue cycle management firms, providers and collectors need to prioritize digital-first, mobile-optimized and personalized billing to increase consumer payments, according to Making Medical Bills A Higher Payment Priority for Consumers, a new white paper from Nordis Technologies.
Adopting more effective strategies and technologies are the key to simplifying and streamlining current patient financial experiences, which are notoriously confusing, fragmented and stressful. While 78% of providers primarily collect from patients using paper and manual processes, 67% of consumers want digital options including e-statements and online payments, according to JP Morgan/InstaMed research.
Meduit and other healthcare leaders explain in the white paper how they are using cloud customer communications management (CCM) and electronic bill presentment and payments (EBPP) systems to deliver customized experiences that make it fast, easy and convenient for patients to receive and pay medical bills. Removing payment steps is critical: 14% of all adults and 23% of millennials prioritize bills that are easiest to pay, regardless of other factors, according to recent research by Mastercard and PYMNTs.
“Closing the gap between what consumers want in a patient financial experience and what they are getting is a huge opportunity to increase engagement, satisfaction and payments,” said Ronnie Selinger, CEO of Nordis Technologies. “CCM and EBPP technologies make it possible to cater to each patient’s definition of easy, including print/mail, email and text messaging and a variety of self-service payment options.”
- Issues impacting patient payments
- Leveraging technology for better CX
- 5 new CX best practices
- Implementing new best practices
- Revving up results
In addition to CX benefits, cloud CCM and EBPP solutions improve productivity and cost efficiency by digitally transforming and automating patient billing and payments operations. Consolidating print, email and text communications on one platform lets providers and RCM and collection companies reduce vendors to manage and increase data security. Integrating payments into the communications platform delivers more automation and ease of management. The technologies also streamline document updates to stay compliant and produce reports for generating greater consumer insight.
About Nordis Technologies
Nordis Technologies is a leader in cloud-based, omnichannel customer communications management technology, integrated with digital delivery, print and mail services and payment solutions. Companies trust Nordis to drive digital transformation and improve customer experience and financial performance with Expresso®, its patented CCM platform that delivers complete control and agility for creating, managing, and distributing critical digital and print communications. Nordis operates state-of-the-art digital and print production facilities in Las Vegas, Nevada and Coral Springs, Florida.
Media contact:
Lois Padovani
Padovani Communications Inc.
lois@padovanicommunications.com
773-501-8744
