The Importance of Improving Patient Experience
According to a recent survey, nearly nine out of 10 patients said they wouldn’t hesitate to switch providers if they weren’t satisfied with their experience. As patients continue to evolve into healthcare consumers, that should be a disconcerting statistic for healthcare organizations.
The ongoing commercialization of healthcare has placed patients in a position of power when it comes to their healthcare. High deductible health plans (HDHP) and increased co-pays have caused patients to consider their healthcare choices with the same discriminating approach as they would any other purchase. This has forced healthcare providers to focus on improving patient satisfaction as a way to retain their patients.
Here are three reasons why healthcare providers should keep patient experience at the top of their priority list in today’s era of consumer driven care.
In any business the cost of acquiring new customers is significantly more expensive that retaining existing ones. The same is true in healthcare when it comes to patients/consumers. According to one survey reported in Healthcare Finance, nearly half of responding organizations say they are losing more than 10 percent of their revenue due to loss of patients. One of five organizations say the revenue loss is 20 percent. On the other hand, another report has found that increasing patient retention by five percent can increase your revenue by 25 to 95 percent.
Raising your VBP score
As the healthcare industry continues to shift to value-based costing models, keeping a close eye on your value-based purchasing score (VBP) has become critical. The CMS Hospital Value-Based Purchasing program pegs the patient experience of care as 25 percent of an organization’s VBP score. The program rewards organizations based on the quality of care provided to Medicare patients, not just the quality of services provided. Under the program, CMS can withhold Medicare payments by up to 2 percent for providers who fail to measure up. These penalties are used to fund value-based incentive payments to high performing hospitals in the program.
Driving toward Triple Aim initiative
The healthcare industry is committed to improving care outcomes and reducing costs. These are the key focus areas of the Institute for Healthcare Improvement (IHI) Triple Aim initiative. The first goal is “Improving the patient experience of care (including quality and satisfaction).” Organizations that are pursuing the Triple Aim goals – the other two are improving the health of populations and reducing the per capita cost of healthcare- have healthier populations and provide better coordinated care for patients that decreases the burden of care. Some organizations who have initiated a Triple Aim Program have seen healthcare costs 10 to 15 percent lower than competitors.
How Envera Health can help
Envera Health’s Patient Access Solution can help in all three of these important areas. Our advanced call center services help you maximize your operational efficiency and improve access to deliver a superior patient experience.
Envera Health’s access services include standard scheduling, patient registration and insurance verification, education and information, consumer referrals, and appointment reminders – all critical components of a focused patient engagement program. Survey after survey identifies these areas as significant sources of patient dissatisfaction. An access partner like Envera Health can help improve patient experience and lead to higher patient retention rates that can grow your top and bottom lines.
The numbers speak for themselves:
- 96%+ average patient satisfaction score with call/agent
- 26%+ appointments booked as a % of total calls handled
- 11%+ average reduction in network traffic from reduced call backs
We deliver these results because of our clear difference from others in the patient experience space. We provide:
- Measurable patient satisfaction by conducting customized post-call surveys
- Consultative expertise and workflow design that enables scalable growth of your organizations through operational efficiency
- Detailed reporting and insights derived from deep analytics to drive continuous improvement
- People enabled by CRM-driven technology to satisfy multiple patient needs in the same call
Unlike traditional healthcare call centers, Envera Health’s Engagement Center helps improve communication between patients and providers while managing costs and increasing the value of your health system’s services. We help optimize your operational efficiency to better maximize patient capacity, minimize patient access barriers, and enable steady growth. To learn more about Envera Health’s Patient Access Solution and how we can help improve patient experience for your organization, click here.