Issue link: https://beckershealthcare.uberflip.com/i/717576
31 Executive Briefing The Movement to Mobile: Evolving Patient Experience Methods in Revenue Cycle Management W ithin the last decade, healthcare has seen a steady increase in consumerism among patients, who are faced with a gamut of choices and decisions when it comes to the quality and price of their medical care. This trend is largely a product of new patient consumers "picking up the tab" with hefty out-of-pocket deductibles brought about by the Affordable Care Act. Because healthcare reform has increased patient responsibili- ty for payment, providers are seeking the best ways to directly engage patients and understand their behaviors to optimize collections. While there are many methods providers can use to simplify the payment process for patients, interacting with patients on their mobile devices is a proven payment driver among certain populations. One thing is clear: Mobile phones are replacing the credit card in today's patient-consumer inter- actions, and paying bills has never been easier. According to a recent study at Harvard University, the mobile phone is a strong contender as a key transforming agent in the future of health and healthcare. There are now more than 5.3 billion cell phone users around the globe, with 90 percent of the world's population covered by a commercial wireless sig- nal. In other words, now there are channels to contact people who could not be reached before, extending the possibility to provide healthcare services to them outside of traditional facil- ities. The study goes on to say that by providing patients and practitioners with the information they need, when and where they need it, both parties are able to make informed decisions regarding a gamut of health issues. (1) These changes in healthcare are fueling innovation with com- panies such as Zotec Partners (Zotec), a revenue cycle and practice management provider that has developed payment solutions to meet the evolving needs of healthcare payers, providers and their patients. According to T. Scott Law, found- er and CEO of Zotec, the drive behind these changes is due in part to increased patient responsibilities and legislation sur- rounding high-deductible health plans, but also patient-con- sumer trends. Mr. Law suggests the desire among providers to improve their patient satisfaction ratings, decrease bad debt and gain an edge on the competition should create multiple traditional and non-traditional options to interact with patients, especially taking into consideration the electronic and mobile demands of today's patient-consumers. The Technology Factor Zotec is doing for healthcare payments what Google Wallet and Starbucks are doing for some consumers: creating a huge convenience factor by turning patients' mobile phones into a payment source. According to Mr. Law, technology is a key factor in creating patient experience methods, such as fol- low-up texting campaigns that will improve collections from HDHP patients. "Technology is evolving at a rapid pace, and today's savvy patient-consumer is accustomed to having easy access to mobile tools to manage information anywhere, at any time," he says. With mobile payment and text capabilities, patients are not only empowered and accountable to self-manage their bal- ances, make payments or create payment plans, but they are also reminded of payment due dates. According to Mr. Law, it is ultimately important to make the payment process conve- nient, easy-to-understand and secure for the patient while also increasing collections for the provider. "Providers now have an incredible opportunity to fully engage patients to make payments through multiple channels, especially given today's evolving technology and data mining capabilities," he notes. He also adds a cautionary suggestion for providers, stating that mobile payment technologies may not be valuable if providers do not analyze their current and projected patient mix and gain a distinct understanding of patient behaviors. "If the upfront ef- fort isn't there, then providers may see little to no improvement, especially if it's determined that mobile payments are not the most viable or desired payment option," says Mr. Law. Interestingly, research from Fiserv suggests the average U.S. household uses three different bill payment methods each month, and their preferences for paying the same bill aren't al- ways consistent on a month-to-month basis. For example, 42 percent of consumers will use a different payment channel one month than they did the month before to pay the same bill. This finding makes providers' understanding of patient behaviors even more critical as they seek to obtain payment for services rendered. (2) New Responsibilities in RCM Patients are becoming increasingly frustrated when navigating confusing healthcare payments, and therefore it makes sense to offer solutions within the revenue cycle, according to Mr. Law. "For providers to expect payment from a healthcare encounter, they must give patients the same experiences they're getting when they make everyday consumer purchases," says Mr. Law. Adding to that, he says providers also have the ability to imple- ment this process into their revenue cycle and gauge a patient's propensity to pay a bill, or on the flip side, complain about a bill and refuse payment. "On the patient side of the equation, Zotec has developed online and mobile billing tools that are better Sponsored by: