Nearterm Blog

Winning Over the “Consumer” Patient

Patient as Consumer: The new RCM strategy

In his article, “Why the Billing Experience Matters,” Tomer Shoval provides a clear overview of the expectations of the recent phenomenon known as the “consumer” patient. That is, the patient as consumer expects cutting edge quality care and “a simple, easy-to-read medical bill that they can pay as easily as they do other bills.”

Many studies have demonstrated that a patient’s payment experience colors their overall feelings about a hospital stay…They have discovered that a positive billing and payments experience can impact patient satisfaction and loyalty as well as reduce costs and raise revenue.”

He gives ideas on three ways on how hospitals can meet the expectations of the patient with a consumer-focused revenue cycle management strategy:

  • Mimic consumer strategies
  • Integrate your billing and payment experience
  • Optimize for self-service

“Pioneering healthcare leaders are redefining medical billing by engaging their patients as consumers. If you build a system that empowers patients, your patient revenue cycle can quickly become a strategic advantage resulting in happier patients, higher collections, and lower costs.”

Read the entire article here.