Importance of preserving the patient relationship in the post-care billing process linked to bottom line for hospitals and large medical practices

COLUMBUS, Ohio--(BUSINESS WIRE)-- KeyBridge Medical Revenue Management (http://www.keybridgemed.com) announced today the availability of its latest white paper, “The Cost of Alienating a Patient.” The white paper provides insight on the bottom line impact of the patient experience during the revenue collection process.

"With the lifetime value of a patient estimated as high as $1.5 million, it is essential for healthcare providers to take steps to ensure that every aspect of the patient experience is positive," said Scott Koenig, president of KeyBridge. "With the post-care billing process having a major impact on patient referrals, it is essential for providers to have a transparent and patient-friendly revenue collection strategy in place."

Koenig noted that healthcare providers should employ several steps to preserve patient relationships including:

• Consistently measuring patient satisfaction with all aspects of care – from check-in to billing
• Training staff on using a patient-friendly approach to collecting payments
• Engaging in consistent and transparent patient communication throughout the revenue collection process from check-in to post-care
• Carefully reviewing outsourced revenue collections partners to ensure they treat patients with dignity and respect

Highlights of “The Cost of Alienating a Patient” include insight into measuring the lifetime value of a patient, factors influencing positive patient referrals and loyalty, and the importance of a well-managed post-care billing process.

“A patient’s loyalty to a healthcare provider and willingness to make a referral is greatly influenced by how they are treated during the billing process,” Koenig added. "By focusing on preserving the patient relationship throughout the process, patient-pay revenue can be increased."

Join KeyBridge for the “Tips to Maximize the Value of your Patient Relationships” webinar on Thursday, October 13, 2011, 10:30 – 11:30 a.m. EDT.

Visit KeyBridge at www.keybridgemed.com to learn more about patient-friendly solutions for revenue collection.

ABOUT KEYBRIDGE

KeyBridge provides accounts receivable management services, including early out programs, debt recovery and clean-up programs, to hospitals and large group medical practices. By incorporating patient-friendly practices into the revenue collection process, KeyBridge improves cash flow, reduces the cost of recovery and preserves patient relationships. Visit www.keybridgemed.com to learn more.

CONTACT:

For KeyBridge
Bethany Cramer, 614-540-5520
cramerb@marketing-works.net

KEYWORDS:   United States  North America  Ohio

INDUSTRY KEYWORDS:   Health  Hospitals  General Health

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