FinPay’s Patient Financial Management Solution (PFM) is Improving Healthcare Revenue Cycle Management
One of the biggest problems facing US consumers is the affordability barrier in healthcare. In the Black Book Revenue Cycle Management Survey, 83% of small practices reported that payment collection from patients with high deductible plans was their greatest challenge.
The issue of revenue collection is further complicated by an increasingly competitive healthcare market and the importance of patient retention. In an environment where patients can ﬁnd another provider in minutes online, read customer reviews, and immediately schedule an appointment, maintaining a relationship with existing patients is more important than ever. Unfortunately, a single negative interaction over billing or collections may be enough to sour that relationship and lose future business.
The solution is to re-think your Patient Financial Management strategy.