The key to understanding consumer-centric healthcare
While digital interactions between provider and patient are moving “in the right direction,” according to the American Hospital Association, it is seen by William Blair as “still short of ubiquitous.” Interestingly, most of that digital interaction centers on patients looking up medical records online.
In the news: Apple looks to expand healthcare presence
In its report, the firm suggests there is “still room to grow the trend of hospitals moving more administrative functions online.” Shifting patient billing from paper to electronic is just one area that can realize meaningful savings as well as provide a better experience for the patient. It should not seem surprising that 70% of healthcare consumers surveyed by Deloitte would prefer to get their bills electronically. But as I noted earlier, 87% of all medical bills go out in paper form.
The Centers for Disease Control and Prevention (CDC) National Health Interview Survey claims 39% of Americans under 65 years of age are currently enrolled in an HDHP. That means much of the cost of healthcare comes out of their pockets and is expected to reach $608 billion by 2019. The CDC suggests consumers will make better healthcare decisions and healthier lifestyle choices when it’s their money.
While that logic is tough to take issue with, it represents one element, albeit a critical one, of the equation that can result in better healthcare that costs less.
Tom Furr founded Durham, North Carolina-based PatientPay, the patient payment solutions company that offers a patented online billing, collection and reconciliation services that can be embedded in all current popular management and healthcare information systems, to enhance the productivity and profitability of medical practices, ambulatory networks, and hospital systems.