How Medical Lending Assists in the Patient-Centric Approach

Posted by Jessica Toney | Mar 25, 2019 11:19:44 AM

Some speculate the high amount of medical debt collections plaguing healthcare providers is associated with the rise in patient dissatisfaction.

Many speakers at HIMSS 2018 supported this argument. To improve revenue cycle management, they say, providers must focus on patient-centered strategies. Yet that relationship goes both ways.

Choosing the right financial strategies to implement also has an effect on patient satisfaction. Here’s why.

How Medical Lending Affects the Patient-Centered Approach
The intent of the patient-centric approach is to put more focus on the person paying for care.

According to Healthcare Finance, providers do this by personalizing patient-provider interactions, understanding what people want and need from you as a provider, allowing for flexibility to choose how to pay, and providing upfront communication about fees and payments for services.

Strategic finance tools like medical lending programs are excellent ways to do all of the above and more. Medical financing programs are personalized to fit each patient’s unique needs while giving them the power to choose how to pay. Best of all, health lending provides an opportunity for dialogues about the cost of care.

Considering your employees’ well being, though, is just as vital to the patient-centered approach as giving people better ways to pay.

Medical Lending to Boost Employee Morale
Imagine if your staff hates, or worse, don’t understand how to use the new financial management technologies your department implements.

While you focus all your energy on patients, your employees must split their attention. Between providing care and learning how to use new technologies, your staff loses energy and grows frustrated. All your hard work to improve the patient experience is upended by a lack of employee morale.

That’s why you need a simple revenue management tool that makes your employees’ life easier— not harder. That way, your staff can better assist in the patient-centric approach.

At Epic River, we think putting patients first is important. We think your employees are pretty vital, too. That’s why our lending program creates software to connect patients with medical loan providers. You offload statements and payments to the loan provider, which is a huge weight off your employees’ shoulders.

If you’re looking for a way to improve patient-centered strategies as well as revenue cycle management, you need Epic River’s medical lending program.

Topics: Medical Lending

Written by Jessica Toney

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