Building a patient financial experience that grows collections and stronger relationships

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Accelerated by the healthcare landscape created by COVID-19, improving the patient financial experience has become a top priority for providers in 2020. A staggering increase in unemployment has joined the growing number of high-deductible plans as powerful factors contributing to a patient’s ability to manage their medical bills. 

For providers, who already face numerous challenges trying to collect balances post-service, it’s a critical time to focus on offering a financial experience that makes it easier for patients to understand their bills and the payment options available to them. Below are the cornerstones of a strategy that supports a better patient financial experience and increases collections.
 

Accelerated by the healthcare landscape created by COVID-19, improving the patient financial experience has become a top priority for providers in 2020. A staggering increase in unemployment has joined the growing number of high-deductible plans as powerful factors contributing to a patient’s ability to manage their medical bills. 

For providers, who already face numerous challenges trying to collect balances post-service, it’s a critical time to focus on offering a financial experience that makes it easier for patients to understand their bills and the payment options available to them. Below are the cornerstones of a strategy that supports a better patient financial experience and increases collections.
 

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