How to Reduce Employee Burnout with Patient Financing

Posted by Jessica Toney | May 7, 2019 11:38:35 AM

Poor employee well being is associated with a higher prevalence of medical errors. It’s no wonder then that healthcare providers are looking for ways to improve employee morale.

But why are healthcare employees dissatisfied in the first place? According to a 2016 review, burnout is to blame.

How can administrators combat low employee morale and prevent medical errors before they happen? Keep reading for a look at how patient financing programs can help improve patient satisfaction by boosting staff well being.

Healthcare Employees are Burnt Out
So why are physicians, nurses, and other healthcare staff burning out so easily these days?

One reason is that providing care is more like a business today than ever before. Hospitals are struggling to put patients first with so many unpaid hours of clerical duties to attend to.

The first step to combating employee burnout is to help providers re-focus on what really matters—their patients.

Yet with the introduction of the ICD-10 coding system, it seems clerical duties are getting more and more complex. Maybe that’s why the medical billing outsourcing market is projected to hit $19.7 billion by 2026.

Patient Financing to Boost Employee Morale
If your employees are getting burnt out from playing patient debt collector, it may be time to outsource your billing cycle.

One great option is to implement a medical financing program. Patients who can’t pay in full are automatically approved for a loan to cover their medical expenses.

Meanwhile, providers are paid up front. You offload billing and statements to the expert loan provider and free up more time and energy for your patients.

Epic River’s patient financing software is a proven solution to reduce accounts receivable days and lift the burden of bill collection from healthcare providers’ shoulders.

If your employees are struggling with burnout, you need a new strategy. Contact Epic River today or head over to our patient lending page to learn more about how we can help.

Topics: Patient Financing

Written by Jessica Toney

Leave a Comment