Strategic and Personalized Patient Outreach is Critical in Healthcare

Product Highlight: Engage IQ™

Receiving an impersonal, unaffordable or confusing medical bill is an all-too-common experience. It often leads to a frustrating phone call to get clarification or to understand available payment options. Other times the statement is ignored, resulting in a late or unpaid bill.

Each patient is unique and so is their financial situation. It’s unlikely that patients will have a positive payment experience if their individual financial situations are ignored. Lack of personalization can reduce patient engagement, leading to delayed or missing payments. Additionally, boilerplate strategies can contribute to inefficiencies in the billing process, including errors in statements and issues collecting payments, which increase administrative costs and negatively impact the organization’s financial health.

Personalized Payment Strategies Improve Outcomes

Moving away from a one-size-fits-all approach and adopting customized workflows and personalized communications improves patient satisfaction, engagement and financial outcomes. Solutions like RevSpring’s Engage IQ™, which leverage patient analytics to tailor payment strategies and communications, can help address these challenges while boosting patient loyalty. One study found that patients were 20% more likely to pay their bills on time when they received personalized billing communications.

Engage IQ improves payment outcomes by using data and insights within healthcare organizations to understand specific patient populations. This data is analyzed and segmented into groups to strategically identify several key factors about patient populations at an individual level. Valuable insights—such as how much a patient can pay, how likely they are to pay, and what channel they prefer to make a payment—are uncovered and leveraged to personalize engagements to drive action within the payment experience.

This enhances patient outcomes by tailoring payment amounts and engagement strategies to everyone’s needs. Your organization is empowered to strategically leverage this information for a deep understanding of the patient population, enabling data-driven decisions for workflows and early-out programs. This not only aligns with patient needs but also drives intentional and positive business outcomes.

Harnessing data and analytics, Engage IQ transforms both patient engagement and operational efficiency. It seamlessly connects pre- and post-care interactions with the necessary technology to deliver an unprecedented level of personalization. Patient satisfaction and loyalty are sure to follow.