How RCMs can efficiently drive next-level patient engagement by leveraging the voice of the consumer
Revenue cycle managers (RCMs) around the country are turning to patient engagement technology to drive financial performance and efficiency in the face of growing consumer demands, rising patient financial responsibility and increasing margin pressures. That’s because when consumers aren’t empowered to pay, health systems do:
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10% of consumers simply won’t pay their medical bills if they don’t understand the administrative process.
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55% of what’s owed by consumers goes unpaid
To achieve next-level patient engagement, RCMs must develop a deep understanding of consumer behavior through constant experimentation, so they can ultimately let consumers define the optimal patient financial experience. By adopting an experimentation mindset, RCMs can:
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Increase self-pay collections
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Lower administrative costs
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Improve staff productivity
