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4 strategies to find missing insurance coverage as COVID-19 funding ends

As COVID-19 funding comes to an end, healthcare organizations must be extra vigilant to find missing insurance coverage for COVID-19 care.

Published: May 16, 2022 by Experian Health

The Digital Healthcare Gap: Streamlining the Patient Journey

Earlier this year, Experian Health teamed up with PYMNTS to ask more than 2300 consumers about their digital healthcare habits. The results confirmed that consumers are eager to use digital channels, but still experience challenges in finding options that meet their expectations. The Digital Healthcare Gap: Streamlining the Patient Journey examines how healthcare providers currently use digital tools to allow patients to book appointments, obtain test results and make payments. It also examines how providers are closing gaps. This article summarizes the key insights that will help providers create a seamless digital experience and improve patient engagement. Download the report to get the full study, and to learn how healthcare providers are using digital channels to improve care and drive engagement. How are healthcare providers using digital channels to streamline access to care? While most patients still prefer to interact with healthcare providers in person or by phone, digital methods are increasingly popular. For example, Experian and PYMNTS data show that: 1 in 5 patients used digital channels to schedule appointments within the previous year. 1 in 3 patients used patient portals to fill out registration forms. 1 in 4 patients used digital methods to pay for healthcare. Urgent care patients were the most likely to schedule appointments online, with 17% using patient portals, 16% scheduling directly through practice websites and 5% booking by text message. Patient portals were also the most popular digital channel among patients booking appointments with family practices. These insights suggest that patients want on-demand patient access and a range of options to book, register and pay for care in a way that’s most convenient for them. When they have that choice, many opt for digital methods, though results vary by type of provider. Patient portals are emerging as the most popular channel because they allow patients to securely access and manage their healthcare information in one place, whenever and wherever they like. Missed us at the MUSE Inspire Conference? Contact us for more conversations about opening healthcare’s digital front door. How can providers better engage patients using digital healthcare solutions? Despite their enthusiasm, many patients run into challenges when using patient portals, especially when making payments. Obtaining accurate cost estimates before coming in for care was a major pain point for 15% of patients surveyed. Portals are an obvious solution, but only 24% of patients said they had access to portals that include this feature. Even among those patients with access to “estimate-enabled” portals, only 6% said they knew their out-of-pocket costs in advance, which may point to communication or usability issues. The ability to receive cost estimates in advance of treatment has a major impact on how satisfied patients feel with their overall care experience. Nearly 85% of patients said they were satisfied with their care, but those who did not receive cost estimates for their most recent appointments tended to be less satisfied. The portion of urgent care patients satisfied with their experience dropped to 74% when out-of-pocket expenses weren’t known in advance. Experian Health’s Patient Estimates can help address these gaps. This web-based pricing tool gives patients accurate cost estimates before their treatment and offers advice for financial assistance and charity options. Patient Financial Advisor complements this by delivering pre-service estimates of the patient’s responsibility straight to their mobile devices. With this solution, patients get a text message with a secure link to their cost estimates and payment options. Providers that offer a convenient and transparent financial experience through these types of digital tools are likely to see improved patient engagement and more efficient patient collections. Tom Cox, President of Experian Health, says that digitally-enabled convenience is the secret to better patient engagement. “Patients are consumers before they are patients. They may not be experts in medicine, but when it comes to convenient and efficient scheduling, registration, estimates, payments, communication, and flexible delivery of these services, the consumer becomes the de facto expert. Healthcare is quickly approaching the point where a standard of convenience and ease of use – primarily delivered via digital tools ­– will result in patient attrition for those failing to meet the standard. The ’innovation’ needed is to reach parity with the experiences consumers have in their other service interactions.” “Healthcare is quickly approaching the point where a standard of convenience and ease of use – primarily delivered via digital tools ­– will result in patient attrition for those failing to meet the standard.” – Tom Cox, President at Experian Health How can digital healthcare solutions attract and retain new patients? The research also found that opening the digital front door can supercharge efforts to attract new patients. 3 in 10 patients use digital methods to find and select providers, with 1 in 10 using online reviews as part of their search. Nearly 2 in 10 struggle to find the professionals they need. Building a consistent online presence can help increase providers’ “discoverability” and signal a commitment to digital healthcare that so many patients desire. Providers that offer easy and reliable digital tools are also going to be more likely to attract and retain new patients. With 20% of patients saying portals are complicated to use, and 13% saying they lack functionality, providers that offer streamlined digital services are going to be more attractive. Building on the existing momentum with online self-scheduling and self-service patient registration can make it easier for patients to choose and register with new providers. Cox recognizes that digital solutions are not a simple fix – but worth the effort. “As consumers, we take something like scheduling for granted. What goes on behind the scenes is pretty complicated, however. In the case of scheduling a medical visit, there are specific time slots, physician schedules, how to address cancellations and the need for referrals, among many other variables…. It can be challenging for a healthcare provider to aggregate disparate data into a digital tool that’s easy for patients to engage with. That’s why solution partners like Experian Health are critical to help deliver a better patient experience.” Find out more about how Experian Health’s tried and tested digital tools can help providers streamline the patient journey.  

Published: May 12, 2022 by Experian Health

4 digital enhancements to improve patient access

It’s time for healthcare providers to rethink patient access with patient-friendly digital solutions. Read the blog post to learn how.

Published: May 09, 2022 by Experian Health

How providers can achieve and improve healthcare price transparency

Patients want accurate price estimates prior to care. Learn how healthcare organizations can improve healthcare price transparency for patients.

Published: May 05, 2022 by Experian Health

Better claims management: faster patient payments and reduced denials

Healthcare providers should look for healthcare claims management software that provides support in these 4 critical areas.

Published: May 02, 2022 by Experian Health

New report: easing frictions in the digital patient journey

By understanding patients’ behaviors, providers can design a digital patient journey that leads to increased patient satisfaction.

Published: Apr 26, 2022 by Experian Health

Success at a glance: Patient matching to support community outreach during COVID-19

During the COVID-19 pandemic, national and state health departments needed timely and accurate patient data to communicate quickly with citizens and make decisions about the local public health response. With support from Experian Health, the Council of State and Territorial Epidemiologists (CSTE) utilized Universal Identity Manager to provide members with reliable and accessible data tools to help slow the spread of disease. Here’s how the Tennessee Department of Health (TDH) used those resources to improve contact tracing and patient outreach amid mass relocations. According to Pew Research Center, more than a fifth of US adults changed their residence in 2020 because of the pandemic, or knew someone who did. In Tennessee, Epidemiologist and COVID-19 Team Lead David Fields identified mass relocation as a major obstacle to patient outreach during the pandemic. Job losses caused residential displacement, meaning that a patient’s health record didn’t always show the most current address. Because of the nature of their work, migrant farmworkers often have fluid living situations. This means that they rarely have a continuous home address and will share the same address or phone number with others, which hinders effective communication. And the private laboratories that expanded into COVID-19 testing often relied on stale contact data. These are some of the primary challenges that confronted the team in Tennessee working to verify data they were receiving. Experian Health helped TDH close the gaps in patient records using the Universal Identity Manager (UIM) platform. With UIM, records are matched using a unique patient identifier that combines industry-leading demographic information with the highest quality reference data to create the Experian Single Best Record. This accurately identifies separate records that belong to one person, creating a “golden thread” that follows the patient throughout their healthcare journey. TDH was fielding around 150 demographic data requests from community health departments per day. Before the pandemic, David’s team responded to these requests using proprietary and third-party databases that aggregated data held in public records. UIM complemented this approach with faster records matching, which allowed the team to provide quicker and more reliable patient contact information. In particular, UIM supported more efficient contact tracing during mass relocations by providing accurate phone numbers for citizens with positive COVID-19 test results and data for "hard-to-contact" cases. This solution also helped TDH create statistical analyses for the spread of COVID in the local populace by providing demographic data – such as gender and race. Find out more about how Universal Identity Manager accurately matches and protects patient data across multiple data sources, to create a single, longitudinal view of each patient and real-time insights to improve public health decision making and patient outreach.

Published: Apr 14, 2022 by Experian Health

How to prepare for CMS’s Appropriate Use Criteria Program

The Appropriate Use Criteria (AUC) program is due to come into full effect in January 2023. Here’s how healthcare providers can learn, test, and prepare.

Published: Apr 11, 2022 by Experian Health

Why patient experience matters to your revenue cycle

Discover how improving the patient experience and journey can improve revenue cycle management (RCM) in healthcare.

Published: Apr 07, 2022 by Experian Health

Accessing Healthcare: Easing Digital Frictions In The Patient Journey

Experian Health and PYMNTS recently collaborated to release a new report, "Accessing Healthcare: Easing Digital Frictions In The Patient Journey." Getting care through digital channels became a norm during the pandemic, and will continue post-pandemic. Digital-savvy consumers have come to expect seamless experiences; however, there are a few gaps that healthcare providers must continue to address. This report examines how consumers use digital healthcare channels, their pain points and how providers can address gaps to improve patient care and satisfaction. Check out some of the highlights below: To learn more about how consumers access healthcare services via digital methods, download the full report.

Published: Apr 04, 2022 by Experian Health

How will rising inflation affect the healthcare revenue cycle?

Inflation is giving the cost of healthcare a run for its money. The Consumer Price Index rose by 8.3% year-over-year in August 2022, compared to a rise of just 2.9% in the Health Care Price Index. However, slower price increases do not necessarily mean healthcare will get an easier ride than other businesses. Healthcare contracts are agreed in advance with government and commercial payers, so any effects of inflation could simply be delayed. How should providers factor such economic unpredictability into their revenue cycle management strategies? Healthcare is usually more resistant to wider economic shocks than other service sectors, so rising inflation doesn’t necessarily mean there’s an urgent need to change course. Providers are always working to maintain a healthy revenue cycle and will continue to do so now. That said, the lingering financial effects of the pandemic, staffing shortages and increasing operational costs mean that provider cash flow is sensitive to any added pressure. While there’s currently no sign that patient collections have been significantly affected by inflation yet, patients may assume that health costs will increase too, along with everything else. This might lead them to delay elective care, which could affect providers’ bottom lines. As non-COVID patient traffic slowly returns and state and federal aid ends, rising inflation presents an additional hurdle to providers’ financial health. Providers will need to tighten their patient collections process and safeguard their bottom line. Download the white paper to learn how inflation is impacting healthcare and get strategies to optimize collections and avoid revenue loss. Providers that want to bolster their revenue cycle against the potential impact of inflation should focus on increasing workforce efficiency to manage costs and mitigate the risk of deferred care, to maintain a steady inward cash flow. They’ll also want to be prepared for any potential shift in patient payment reliability that could occur if inflation persists. Automated solutions and self-service digital tools can help to solve these issues. Minimize workforce inefficiency with automation and self-service solutions Questions to consider: How can digital technology and automation improve efficiency and ease pressure on staff? Where can patient self-service solutions help reduce the need for staff input? Inflation is likely to hit providers hardest in relation to payroll expenses. Staffing shortages lead to increased costs as providers raise salaries to attract and retain new staff, pay overtime costs, and hire more temporary workers. Reduced purchasing power will only exacerbate these challenges. Automation and digital tools can help address staffing shortages and keep a lid on payroll costs by increasing efficiency in existing workflows. For example, digital technology can allow patients to take care of many administrative tasks themselves, thus reducing the demand for staff input. Online self-scheduling and registration allow patients to book appointments and fill out pre-service paperwork without taking up valuable staff time. These tools leverage data and automation to pre-fill patient information, which reduces the risk of costly errors and saves time for patients and staff. Further along in the patient journey, automated collections can eliminate much of the manual work that puts pressure on understaffed teams, while increasing the likelihood and speed of payment. Collections Optimization Manager helps increase workforce productivity to make better use of staff time and avoid unnecessary revenue loss. Advanced analytics are used to prioritize accounts by payment probability, which will be increasingly useful should ongoing inflation increase the risk of patient bills going unpaid. Consumer data helps identify the most appropriate communications method for each segment, so the right message can be sent at the right time to boost the chances of collecting a greater percentage of money owed. Automation also helps reduce staff costs to collect, while bumping up the amount of money that comes in the door. As hospital operations become more expensive on the whole, maximizing efficiency in collections is increasingly important. Maximize revenue by removing friction for patients worried about the cost of care Questions to consider: How can providers help patients better understand their bills? How can digital technology make it easier for patients to access and pay for care? The second step is to make sure that dollars keep coming in the door. Managing household bills can be challenging for patients, and there’s no suggestion that the rise in inflation during 2021 has added any new pressure to patients’ ability to pay for healthcare. Experian Health’s clients also continue to see very low levels of delinquency. However, despite pay raises, many consumers are worried that price inflation will overtake any increase in household income, especially as energy and food prices go up. They may decide to cancel or postpone elective care until they’re sure of their financial situation or move their medical bills to the bottom of their priority list. In reality, costs for patients haven’t increased, because of the delayed effect of inflation in healthcare. That’s why it would make more sense for patients to seek elective care sooner rather than later. Given reports of pricing concerns, providers should consider ways to reassure patients about their financial obligations and make sure they don’t miss out on the care they need. Here are some ways that providers can support their patients: Providers can help patients get a better understanding of their medical bills and payment options, by incorporating solutions that offer greater price transparency. Upfront patient estimates delivered directly to their mobile device, with links to appropriate payment plans and payment methods, can help them plan with confidence. This will help to reassure patients that prices have not increased drastically due to inflation, so they are dissuaded from deferring care. Finding missing or forgotten insurance coverage is another strategy to give patients certainty around how their bills will be covered. A tool such as Coverage Discovery can run repeated and automated checks for previously unknown government and commercial coverage, using multiple data sources. Self-service patient access and patient payment tools can help to reduce friction during scheduling, registration and billing, so patients see fewer reasons to postpone care. Liz Serie, Senior Director of Product Management at Experian Health, says, “Automation and patient self-service features can help address the risk of patients choosing to put off visiting their doctor or getting a procedure they need. Many patient access and patient payment activities that would normally require staff attention can be easily pivoted to an innovative patient-facing experience. This will reduce friction for patients and help providers manage staffing shortages and cost pressures.” “Automation and patient self-service features can help address the risk of patients choosing to put off visiting their doctor or getting a procedure they need. Many patient access and patient payment activities that would normally require staff attention can be easily pivoted to an innovative patient-facing experience. This will reduce friction for patients and help providers manage staffing shortages and cost pressures.” – Liz Serie, Senior Director of Product Management Find out more about how Experian Health’s digital tools and solutions can help healthcare organizations create a financial safety net and protect their revenue cycle against the possible impact of inflation.

Published: Mar 15, 2022 by Experian Health

Patient-centered payments are the key to faster collections

Discover six ways providers can make healthcare payments easier and faster in 2022 with patient-centered payments solutions.

Published: Mar 11, 2022 by Experian Health

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