Waltham, MA (PRWEB) December 02, 2014
Connance, Inc. (http://www.connance.com), healthcare’s premier source of predictive analytic technology solutions that optimize financial and clinical workflows, today announced that according to its fifth annual Connance Consumer Impact Study, a survey of Americans who received hospital services within the last year, 35% of patients gave their recent hospital billing experience a top satisfaction score, while 14% were less than satisfied. Satisfaction has been slowly increasing over the years and is now 15 points higher than it was in the first survey.
For business office teams responding to the rapid rise in patient payment revenue as a result of high deductible health plans and plans purchased through government exchanges, these findings confirm the criticality of their efforts. Delivering a better patient experience during the resolution of financial responsibilities is a component to building a positive relationship with patients. This financial relationship is often developed when the patient is off campus after treatment and complements the clinical relationship formed in the delivery of care. With increasing risk-based reimbursement, providers must take advantage of every touch to reinforce care plans and healthy living.
The 2014 Connance Consumer Impact Study is an online survey of 500 healthcare consumers from 46 states, 6% of whom were uninsured and 94% of whom were insured. This is the highest percentage of insured respondents in the five years of the survey. Executed in August 2014, highlights from the survey include:
- Among respondents giving billing processes a top score:
o 82% would recommend the hospital,
o 95% would return to the same hospital for a future elective service, and
o 74% paid their bills in full.
- Among respondents giving billing processes less than satisfied scores:
o 15% would recommend the hospital,
o 58% would return to the same hospital for a future elective service, and
o 33% paid their bills in full.
- Among respondents, 35% gave billing processes a top score of “5” (on a 1-5 scale) and 51% rated the billing processes a “3” or less. These results are better than in previous years when top score percentages were 29% in 2013, 25% in 2012, 21% in 2011 and 20% in 2010.
- Satisfaction is higher among insured respondents without high deductible plans, 37% gave
billing processes a top score, while only 28% of those with high deductible plans ranked it
- Of consumers with balances due of greater than $100, those who gave business office processes
a top score, 66% paid their hospital bills in full. Among less than satisfied consumers, only 36%
paid their bills in full.
Business Offices have an Opportunity to Build Positive Patient Relationships
"The dynamics put in motion with high deductible health plans designed more than a decade ago and reinforced in the reimbursement model of health reform are starting to come into maturity. Healthcare is becoming a consumer product, where patients consider the full experience, clinical and financial,” said Steve Levin, Chief Executive Officer of Connance. "How clinical leadership embraces this new patient engagement model will have long-term implications. Those who see this transformation as an opportunity will find numerous ways to thrive in the new system. Those who shy away from the consumer as a decision maker will find tomorrow’s healthcare environment unfulfilling."
Revenue cycle and patient engagement around their financial responsibility is an area for strategic opportunity. Patients engage with the revenue cycle operations before treatment and after treatment, for weeks or months. These interactions are opportunities to better serve patients and forge virtuous relationships.
The 2014 Connance Consumer Impact Study survey data will be presented during a webinar on
Thursday, December 4 at 12:00 p.m. EST. Visit https://www3.gotomeeting.com/register/416329030 to register.
The Connance Consumer Impact Study focused on understanding patient behavior, satisfaction, attitudes and perceptions towards healthcare bills. The survey was conducted via an internet survey in August 2014 with 500 adults across the U.S. who had recently received hospital services. The survey sampling quotas were designed to be representative of U.S. adults ages 26 and above who do and do not have health insurance. The data has a tolerance of +/- 4.4%. This is the fifth consecutive year running the survey.
About Connance, Inc.
Connance is healthcare’s premier source of predictive analytic technology solutions that enable hospitals, clinicians and outsourcing organizations to optimize financial and clinical workflows for sustained performance improvement. Leveraging your data, our data and consumer data, Connance delivers revenue cycle and population health solutions that prioritize activity and tailor your workflows to improve net income, reduce costs, and enhance the patient experience. Connance is redefining workflow optimization in healthcare. For more information call (781) 577-5000 or visit http://www.connance.com.