When it comes to healthcare, the government typically has two options for incentivizing specific actions. They can either provide a carrot, or a stick. In the case of price transparency, the government went with the stick approach, with a penalty of $300 a day for noncompliant hospitals beginning as of 01/01/2021. However, they will be bringing out a bigger stick shortly, with an increase in penalties slated for 2022.
promoting industry leading care and expertise. Patients quickly realize the difference between the great care they receive from their medical provider and the experience leading up to and after their medical appointment. This bookend disparity can create disappointment in their healthcare experience, uncertainty in future experiences, and a lack of trust in their provider organization.
When tragedy strikes, or when the deck seems stacked against us, we are typically faced with two options. Option 1, play the Blame Game. or option 2, play the Reclaim Game. We chose the latter.
Healthcare organizations across the country are finding great success in shifting their patient engagement and bill collection efforts to the patient’s phone. Most text messages are quickly read by most people, as cited above. And healthcare organizations that move from emails and letters to text messages are finding new success in patient retention, patient satisfaction, reduced AR, and increased revenue. This also means that fewer patients have to experience the “bill collector” side of their favorite healthcare providers