Rethinking patient payments: Why billing is the new frontline of patient care

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2d ago 22:08

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Health care executive Blake Walker discusses his article, "From caregivers to collectors: Navigating the new landscape of patient payments." He describes a perfect storm impacting provider groups: the significant rise in patient financial responsibility due to high-deductible health plans, the growth of health care consumerism where patients demand better experiences (with up to 50 percent willing to switch providers over billing issues), and the overwhelming administrative burden placed on staff using outdated systems not designed for patient collections. Blake argues that traditional practice management systems, prioritizing insurance reimbursement, are ill-equipped for today's landscape, leading to lost revenue and patient frustration. The conversation emphasizes the need to unbundle patient billing from these systems and adopt modern, consumer-friendly solutions offering automation, transparency, clear communication (like omnichannel options recovering 70 percent of payments quickly), and multiple payment methods. Actionable takeaways include recognizing patient billing as a critical touchpoint, investing in technology that improves the patient financial experience, and automating routine tasks to free up staff and improve collections.

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