Issue link: https://beckershealthcare.uberflip.com/i/1169964
14 Executive Briefing • Personalize communication methods. Meet the diverse needs of patients and enhance engagement by offering flexible financial communication strategies. In other words: let patients choose the communication method that works best for them. A millennial may ask to receive a text with a link to set up a payment plan, for instance, while a baby boomer might prefer to write a check after receiving a printed statement. Patients are more likely to feel comfortable and pay their bills when offered a variety of communication methods. • Deliver upfront cost estimates. Leverage technology to calculate remaining deductibles and out-of-pocket costs, and then use this information to provide financial transparency to patients prior to service. Doing so gives patients the chance to prepare for what they owe — both practically and emotionally — before ever stepping foot in the facility. It allows them to make care decisions confidently and increases the likelihood they will be willing and able to provide payment. • Tailor payment options. Knowing how much a procedure will cost doesn't always mean a patient can afford it. Using technology to forecast patients' ability and propensity to pay their out-of-pocket expenses can help healthcare organizations ensure they connect each patient with the appropriate payment options or financial assistance in advance of services. • Offer payment convenience. Allow patients to select the payment method that provides the greatest convenience. Zotec Partners, for instance, alerts patients to their balances through text messages, and lets patients submit payments via text message, online, through an interactive voice response system or by calling a customer service representative. Simplify, engage…and grow Zotec Partners understands the importance of a healthcare revenue cycle focused squarely on the consumer. Engaging patients throughout the financial process with mobile technology can help hospitals and health systems sustain their own fiscal well-being while providing a satisfying, retail-like experience to patients. As care increasingly expands out into the community — into retail clinics, schools, mobile units and more — all healthcare organizations will need a transparent, patient-centered approach that mirrors the conveniences found in other industries. Anywhere healthcare is delivered, the right financial management tools can help simplify the patient experience and strengthen the unique patient-provider business relationship. n As care increasingly expands out into the community — into retail clinics, schools, mobile units and more — all healthcare organizations will need a transparent, patient-centered approach that mirrors the conveniences found in other industries. Since 1998, Zotec Partners has developed and deployed solutions and services for health- care organizations of all sizes and specialties with proprietary technology, people-centric service, and measurable results. An innovator in the business of healthcare, Zotec deliv- ers financial and patient experience solutions to providers that transform their healthcare business relationships and simplify some of the most complex processes in healthcare. Today, Zotec manages more than 80 million medical encounters annually, and counting, and is the chosen partner for thousands of providers across the nation, improving the lives and relationships of patients and providers through intuitive interfaces, revenue cy- cle processes, deep analytics, clear price transparency, actionable reporting, and intrinsic interoperability.