Patient Financial Experience: From Confusion to Consumer-Grade
Patients now act like retail consumers, expecting clarity and convenience. Leading RCM programs deliver pre-service estimates, transparent itemized bills, and mobile-first payment options (cards, ACH, wallets, BNPL-style plans). Digital statement design matters: plain language, prominent due dates, and self-service links reduce call volume. Flexible financing improves collections without harming satisfaction.
Personalization—using propensity-to-pay models and segmentation—guides outreach cadence and offer types. Financial assistance screening is embedded early, reducing bad debt and fostering equity. For compliance, communications honor consent preferences and maintain accessible formats. The payoff is measurable: lower days to collect, fewer disputes, and higher Net Promoter Scores.
