Patient Engagement is Key to Success as a Provider
Patient engagement. Patient experience. Terms that were once buzzwords in healthcare are important benchmarks for success in today’s new health economy. Because patients have choices. And they are learning that they can shop around for services. Rising deductibles and the onus on patients to pay for much of their healthcare are turning them into consumers. As you become known for excellent patient experiences, you’ll rise to the top of the list.
Tom Price, newly appointed secretary of the Department of Health and Human Services, is the most powerful person in U.S. health policy. And he believes in price transparency. So what has been a “nice to have,” will soon become a must have for this country’s healthcare providers.
By publishing true pricing and not just estimates, you give patients a way to plan for – and manage – heavy out-of-pocket expenses. Not only does this improve the patient experience and offer you an opportunity to outshine your competition, it also helps you financially as patients are more likely to pay when they know the cost and when they have the means to set up payment plans.
Consumer perspective on patient experience
In 2015, The Beryl Institute, an organization devoted to improving the patient experience, researched the consumer perspective around two key issues:
- To what extent is the patient experience important to consumers
- How significant would patient experience be in making healthcare decisions
In an excerpt from the findings, Jason Wolf, Ph.D., founder and president of The Beryl Institute states:
“Almost 90% responding from the consumer perspective said patient experience was extremely important. This reflects a growing awareness of the consumers’ role as active participant and partner versus a traditionally passive perspective. To underline this importance, consumers also offered patient experience would be extremely significant to their healthcare decisions almost 70% of the time while almost the remaining respondents acknowledged it would have some significance. The bottom line: 95% of individuals said that experience matters not just in the moment, but as they make choices for the future. Yes, consumers themselves have said patient experience matters and we’re going to see this now play out in so many different ways across the industry.
Price transparency equals better patient experience
As more patients adopt a consumer mindset, it’s important to pay attention to the fact that 95 percent of people surveyed make future choices based on their experiences. You don’t need to wait until it’s a mandate to provide your patients with true pricing. Patients are asking for it now, and hospitals and physicians who move forward first will be rewarded with satisfied patients, who in turn will be loyal consumers.
HealthQRS has developed easy-to-use solutions for patient engagement and payment. Our Retail Medical Marketplace provides consumers with an online format to type in services they need and instantly receive a list of your procedures, locations and available dates, along with real pricing, not estimates. They can book appointments online with you and pay in full in advance or set up monthly installments.
Transparency in healthcare future is coming. Are you ready to win? We invite you to learn more about HealthQRS’ solutions. Click here to schedule a demo, or feel free to contact us with any questions.
 Jason A. Wolf, Ph.D., “A Report on The Beryl Institute Benchmarking Study State of Patient Experience 2015: A Global Perspective on the Patient Experience Movement,” The Beryl Institute, p. 20, http://c.ymcdn.com/sites/www.theberylinstitute.org/resource/resmgr/Benchmarking_Study/2015-Benchmarking-Study.pdf