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39 Executive Briefing Sponsored by: P roviders play an important role in helping patients take a proactive, preventive approach to improving and sustaining their health and quality of life. By considering financial barriers to care as a social determinant of health, providers can help patients make the best choices by acknowledging the possibility of cost concerns and offering advice or solutions to help patients with their out-of-pocket obligations. In addition to helping patients enjoy better health for longer, this can also benefit providers by strengthening patient relationships, enhancing the patient experience, and encouraging retention and referrals. Improving the patient experience by prioritizing wellness As out-of-pocket healthcare spending rises 1 , patients may take a less proactive approach in seeking preventative care, simply due to the fact that they don't think they can afford care. Delaying or declining care due to cost concerns may result in surprise health conditions and long-term consequences such as an increased risk of developing a chronic illness. If left unmanaged, treatment may be more difficult or costly, requiring greater effort or a longer course of treatment and making optimal health outcomes harder to achieve. Providers have a unique opportunity to prioritize wellness conversations to help patients understand risks, prepare for potential conditions, and develop a game plan to address their financial concerns. Addressing preventative care in an open and honest way can actually be a welcomed conversation and take fear out of the unknown. Providers can help patients feel invested in their own care and empowered to make the right choices for their health and wellness. Patients feel supported by providers who want the same thing — the ability to move forward with care without delay, achieve the best possible health outcomes and do so in a way that is financially sustainable. Being well-informed and working together to find the best way forward can be a positive experience for all involved. Patients will appreciate knowing they have a provider they can trust to help them navigate their wellness journey. Improving retention and building a practice through prevention Nationally, Americans use preventative services at about half the recommended rate. 2 With preventative care severely underutilized, there is a major opportunity for providers to have a positive impact by focusing more on prevention with their patients. Every interaction with a patient is an opportunity to deliver a better healthcare experience and build a stronger relationship. Whether it's a health screening, a test or even a simple conversation, emphasizing the power of prevention allows providers to demonstrate their concern for patients' long-term health and wellness. Addressing the financial aspects of care expands on this by showing that providers understand the challenges patients may be facing, and that they want to help patients overcome any barriers to getting the care they Prevention = Retention: Health & Wellness as a Patient Experience Driver By Erin Gadhavi, SVP, CareCredit Strategy & Initiatives 1 InstaMed, Trends in Healthcare Payments Eighth Annual Report: 2017, published May 2018 2 Centers of Disease Control and Prevention, Preventive Health Care, https://www.cdc.gov/healthcommunication/toolstemplates/entertainmented/tips/PreventiveHealth.html, September 15, 2017 3 CareCredit Cardholder Engagement Study Q2 2018