As hospital physicians continue fighting the coronavirus on the frontlines each day, doctors running private practices are seeing a drastic decline in patients. Whether it’s fear of contracting the virus or stay-at-home recommendations keeping patients away, the financial impact of this decreased volume is threatening the viability of many healthcare facilities. With no way to predict how long it will take before well visits and elective procedures start up again, cutting costs may help insulate against economic uncertainty.

FOR IMMEDIATE RELEASE  

FOR IMMEDIATE RELEASE Loveland, Colorado, April 9, 2020— ProSign Online, powered by Epic River, the simple, secure, and compliant eSignature solution developed for financial institutions, is proud to announce financial institutions now have the ability to embed SBA applications on their websites as well as facilitate SBA-compliant loan closings.

Record low-interest rates and an uncertain economy are driving an influx of new loans and refinancing applications. That means paperwork and lots of it. With the coronavirus continuing to alter everyone’s day to day routines, the ability to make secure, remote financial transactions has never been more important for you or your customers. 

We are truly in unprecedented times. The ripple effect of the COVID-19 pandemic has only started to make its way through our industry. With the expected increase in hospitalizations, many affected patients will be responsible for most, if not all, of their deductible in 2020. As you know, business offices feel the effects of spikes in volume after caregivers do.

A growing number of patients are self-enrolling in the Epic River patient lending program and everyone is winning. Patients are getting the care they need with a loan solution they can afford and providers are recouping timely payment for services without the burden of billing. The key to this winning scenario is patient self-enrollment. And it’s more of a game-changer than you might think, here’s why...

Many medical providers have made the shift to outsourcing their patient payment plans. The reason? In-house management can be exorbitantly expensive, inefficient and ultimately a losing proposition for providers.

A recent poll of 1,746 healthcare leaders found that 73% of them feel wither somewhat or completely burnt out. Burnout stems from intense and prolonged workplace stress. When it goes untreated, burnout can lead to physical and emotional exhaustion, which may manifest as feelings of depersonalization and diminished personal accomplishment.

As a healthcare provider, your margins depend on the patients who come through your doors. Indeed, a 2019 survey of US hospitals and health system leaders found that 30% of those surveyed consider flat or declining inpatient volumes as putting the greatest pressure on revenues.

According to a recent RAND study, “high-performing” providers excel in the quality of, cost for, and access to care. But that’s not all. The study also showed that patient satisfaction contributes to a practice’s success, especially when it comes to retaining patients.