Archive for August, 2018

Infographic: Aligning Infrastructure Decisions with Healthcare Business Plans

August 10th, 2018 by Melanie Matthews

Healthcare organizations need to align their infrastructure process and business models, according to a new infographic by Fitzemeyer & Tocci Associates, Inc.

The infographic drills down on how healthcare organizations spend their capital and key goals for good infrastructure options.

Profiting from Population Health Revenue in an ACO: Framework for Medicare Shared Savings and MIPS SuccessA laser focus on population health interventions and processes can generate immediate revenue streams for fledgling accountable care organizations that support the hard work of creating a sustainable ACO business model. This population health priority has proven a lucrative strategy for Caravan Health, whose 23 ACO clients saved more than $26 million across approximately 250,000 covered lives in 2016 under the Medicare Shared Savings Program (MSSP).

Profiting from Population Health Revenue in an ACO: Framework for Medicare Shared Savings and MIPS Success examines Caravan Health’s population health-focused approach for ACOs and its potential for positioning ACOs for success under MSSP and MACRA’s Merit-based Incentive Payment System (MIPS).

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Guest Post: Why Healthcare Marketers Should Care about the Patient Financial Experience

August 9th, 2018 by Will Reilly

In most cases, health system marketing is focused on dynamic content on healthcare organizations’ latest clinical advancements, philanthropic efforts, wellness management and relationship-building efforts within the communities they serve. It’s also understanding patients and their motivations, using consumer research and analysis, focus groups, surveys and other tools.

Healthcare marketing does not often include the healthcare billing experience, which is understandable. Frank discussions about finances remain a taboo in our society. The rising costs of healthcare—and the increasingly large percentage of that cost carried by the patient—makes this a delicate subject for even the most talented marketing team.

Yet, patient financing is a core pillar of a health system’s ability to deliver a positive experience to consumers and capture their loyalty.

According to HIMSS, “patient financial touch points…may exceed the number of clinical touch points,” yet its specific impact on the patient’s perception of the health system is rarely measured beyond common—and often incomplete—metrics like point-of-service collection rates, call abandonment rates and registration wait times.

Even HCAHPS, the national standardized survey that ties performance results to reimbursement, does not capture a patients’ financial experience, even though that experience can negatively impact a health system’s scores.

Healthcare’s Financial Quagmire

Imagine a state-of-the-art health system. The clinical care is second to none. The staff is highly professional and empathetic. The amenities and design details ensure a comfortable and reassuring stay.

Then the bills come. Sometimes sooner, sometimes later. Some come by e-mail, others by the post office. Some contradict each other, some are wholly unexpected and some are just plain wrong. According to a 2017 report from the Center of Healthcare Quality & Payment Reform, 70 percent of patients find their medical bills confusing.

Strong, trusted relationships between provider and consumer have been nurtured over generations, but they are being eroded one faceless statement at a time by what has become a significant “kitchen table” issue across almost all consumer demographic groups across the country: how to deal with the high costs and frustrating experience of healthcare billing today.

The patient financial experience is ripe for marketing innovation. The changing dynamics of U.S. healthcare has left the patient bearing more and more of the financial responsibility for their treatment. Every statement sent by the provider to a consumer is an opportunity for the provider brand to show up in a positive way: with clarity, transparency, flexibility and compassion. But too often each billing statement is a brand opportunity lost—a disappointing financial experience that follows a positive clinical experience.

The work to be done to address the high overall cost of healthcare in the United States doesn’t change the fact that extraordinary improvements can and should be made in patient satisfaction with the billing process right now.

So what should marketers do about it? Here are three starting points:

  1. Understand the Patient Financial Experience

    Spend time with your revenue cycle team to understand existing policies and approaches to working with consumer as payer. Revenue cycle teams are on the front line of the provider-consumer experience as never before. Beyond the financial consequences of every dollar left on the table by the health system are very personal, human stories.

    One of the hard realities is that provider billing is managed very differently than other financial obligations consumers face every day. It’s complicated and confusing, and the balances are often large and unexpected.

    What financing terms does your health system offer (beyond financial assistance)? What do your paper or digital statements look like, and how many are sent each week? What is the average post-insurance balance owed by patients and how has that changed over the last five years? How easy is it to pay a bill over time? How much of the total revenue of your health system is due from patients rather than commercial or government payers?

    Armed with this information, you’ll have a good understanding of the way your health system shows up to consumers today and what’s at stake. The most important thing to remember is that “one size fits all” actually fits no one.

  2. Measure the Experience

    We know that patients’ financial experience informs their overall impression of a healthcare provider, but how can that be measured?

    Use focus groups and online panel groups to talk to patients about the financial experience, and measure satisfaction with the current billing experience. A simple five box customer satisfaction survey will get the lay of the land. Or you could find out your financial experience NPS score.

    Once the program is in place, it’s important to use the right type of data and reporting to measure results. This platform should include a feedback loop that allows healthcare organizations to continually optimize and improve financial and satisfaction outcomes. Failure to include this element in the patient financial interaction platform will result in a sub-optimal experience for both patient and provider.

  3. Develop a Patient Financial Journey

    Think about the end-to-end patient financial experience. What determines how patients look at their financial interactions with your system? It could be balance due, demographics, clinical condition, or other things. Can you identify patient financial segments that share common characteristics for whom you can design a better experience?

    Understanding the financial side of your brand experience is an important building block in the overall effort to offer a positive consumer experience across the continuum of care.

About the Author:

Will Reilly

Will Reilly

Will Reilly is the Vice President of Consumer and Client Marketing at VisitPay. He has more than 15 years of marketing and branding experience at major corporations and startups in Europe and the United States, including IBM.

Infographic: Can Your Network Handle Healthcare Technology Shifts?

August 8th, 2018 by Melanie Matthews

When patient lives are at stake, every connection matters. Evolving technologies enable healthcare innovation—unless an underperforming network slows progress. These healthcare technology shifts may affect your network in the future, according to a new infographic by Spectrum Enterprise.

The infographic examines how technology is changing healthcare and the network requirements under these new scenarios.

2018 Healthcare Benchmarks: Telehealth & Remote Patient MonitoringArtificial intelligence. Automation. Blockchain. Robotics.

Once the domain of science fiction, these telehealth technologies have begun to transform the fabric of healthcare delivery systems. As further proof of telehealth’s explosive growth, the use of wearable health-tracking devices and remote patient monitoring has proliferated, and the Centers for Medicare and Medicaid Services (CMS) has added several new provider telehealth billing codes for calendar year 2018.

2018 Healthcare Benchmarks: Telehealth & Remote Patient Monitoring delivers the latest actionable telehealth and remote patient monitoring metrics on tools, applications, challenges, successes and ROI from healthcare organizations across the care spectrum. This 60-page report, now in its fifth edition, documents benchmarks on current and planned telehealth and remote patient monitoring initiatives as well as the use of emerging technologies in the healthcare space.

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Infographic: How Big Data Will Unlock the Potential of Healthcare

August 6th, 2018 by Melanie Matthews

The amount of medical data generated each year is rising astronomically. Understanding how to connect that data for new growth opportunities, greater efficiency and better serving consumer needs is a pressing challenge for healthcare organizations, according to a new infographic by Publicis Health.

The infographic examines these data trends and how healthcare organizations can successfully activate data.

UnityPoint Health has moved from a siloed approach to improving the patient experience at each of its locations to a system-wide approach that encompasses a consistent, baseline experience while still allowing for each institution to address its specific needs.

Armed with data from its Press Ganey and CAHPS® Hospital Survey scores, UnityPoint’s patient experience team developed a front-line staff-driven improvement action plan.

Improving the Patient Experience: Engaging Front-line Staff for a System-Wide Action Plan, a 45-minute webinar on July 27th, now available for replay, Paige Moore, director, patient experience at UnityPoint Health—Des Moines, shares how the organization switched from a top-down, leadership-driven patient experience improvement approach to one that engages front-line staff to own the process.

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Infographic: Grading the Medicare Advantage Shopping Experience

August 3rd, 2018 by Melanie Matthews

With (on average) 20 Medicare plans to choose from, consumers have high expectations and little patience for friction in health plan interactions, according to a new infographic by NTT DATA.

The infographic examines the leaders and the laggards in the online shopping process for Medicare Advantage options and who is at the top performance level.

UnityPoint Health has moved from a siloed approach to improving the patient experience at each of its locations to a system-wide approach that encompasses a consistent, baseline experience while still allowing for each institution to address its specific needs.

Armed with data from its Press Ganey and CAHPS® Hospital Survey scores, UnityPoint’s patient experience team developed a front-line staff-driven improvement action plan.

Improving the Patient Experience: Engaging Front-line Staff for a System-Wide Action Plan, a 45-minute webinar on July 27th, now available for replay, Paige Moore, director, patient experience at UnityPoint Health—Des Moines, shares how the organization switched from a top-down, leadership-driven patient experience improvement approach to one that engages front-line staff to own the process.

Get the latest healthcare infographics delivered to your e-inbox with Eye on Infographics, a bi-weekly, e-newsletter digest of visual healthcare data. Click here to sign up today.

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Infographic: 2018 Health Data Breaches Fast Facts

August 1st, 2018 by Melanie Matthews

There have been 165 healthcare data breaches so far in 2018, affecting 3.2 million people, according to a new infographic by Optimum Healthcare IT.

The infographic examines the types of breaches that have occurred.

Healthcare Trends & Forecasts in 2018: Performance Expectations for the Healthcare IndustryHealthcare Trends & Forecasts in 2018: Performance Expectations for the Healthcare Industry, HIN’s 14th annual business forecast, is designed to support healthcare C-suite planning as leaders react to presidential priorities and seek new strategies for engaging providers, patients and health plan members in value-based care.

HIN’s highly anticipated annual strategic playbook opens with perspectives from industry thought leader Brian Sanderson, managing principal, healthcare services, Crowe Horwath, who outlines a roadmap to healthcare provider success by examining the key issues, challenges and opportunities facing providers in the year to come. Following Sanderson’s outlook is guidance for healthcare payors from David Buchanan, president, Buchanan Strategies, on navigating seven hot button areas for insurers, from the future of Obamacare to the changing face of telehealth to the surprising role grocery stores might one day play in healthcare delivery. Click here for more information.

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