An effective patient experience is essential for the success of any healthcare organization.

Healthcare organizations must provide a superior patient experience if they want to succeed in today's rapidly changing healthcare landscape. With consumer preferences and expectations always on the rise, it is more important than ever for patients to have positive, cohesive interactions across all of their needs - from clinical experiences to financial policies. Especially considering the stress imposed on the healthcare system as a result of COVID-19, patient satisfaction should be prioritized by leaders in order to ensure success. All patient-provider interactions should be centered around one fundamental goal: serving the patient with personalized care throughout their entire journey.

Providing exemplary care to patients should be extended to their financial journey. By creating patient-centered touchpoints in the revenue cycle, healthcare providers can differentiate themselves from the competition. Integrating this human-centric approach into clinical care will leave a lasting impression on every patient encounter.

As a healthcare organization, it is important to take a patient-centered approach in all areas of revenue cycle management. The following measures can be taken to achieve this goal:

• An effective patient experience is essential for the success of any healthcare organization. A human-centered, holistic approach across all patient interactions is instrumental in improving such experiences.
• For healthcare providers, patient-focused revenue cycle management (RCM) is a valuable tool when striving for better patient experiences. The RCM journey requires attention, however. Many healthcare providers are still in the process of making their RCM truly focused on patients.
• Successful patient-centered RCM is being hindered by a lack of adequate solutions and staffing limitations. Complex operation, inadequate billing transparency, and few self-service options are inhibiting patients from using the necessary tools for revenue cycles and hindering efficiency, productivity, and agility due to insufficient automation.
• RCM must focus on the patient and desired outcomes, deliver personalized care, and take advantage of automation. To do this successfully requires teamwork and knowledge within the entire revenue cycle. Additionally, it is important to provide patients with platforms that are both transparent in cost as well as communicate using their preferred methods (e.g., text, email, phone calls).
• By enhancing revenue cycle management to prioritize patient care, organizations benefit from increased performance across all areas. This includes the business itself, provider staff, and most importantly the patient experience. In closing any gaps within healthcare processes and enabling an improved patient focus RCM produces positive outcomes that will help equip organizations with the tools and structure needed to meet their goals for a high level of patient satisfaction.

The healthcare industry is increasingly turning toward consumerism, which relies heavily on patient feedback. Businesses in this space must strive to create an environment of exceptional care and satisfaction if they hope to stand out. As a CIO at an academic health system recently noted, this shift towards consumerism means that hospitals will be held publicly accountable for the quality of care and patient experience they provide.

Healthcare organizations are pushing through the obstacles and centering their efforts on patients when it comes to revenue cycle management. To really make a difference, patient-focused RCM demands collaboration across all departments, automation throughout the revenue cycle, and tools that make it easy for patients to comprehend costs and communicate clearly.
The introduction of automation in RCM processes has the potential to revolutionize the industry, yet manual operations are still prevailing. Surveys have revealed that 84% of IT and digital professionals view automation as a crucial part of their revenue cycle, but they may require further convincing to realize its full potential.

For healthcare organizations to provide the best patient experience, there needs to be collaboration across departments. Automation is a key area of focus for achieving this goal; when it's used in the right way, it can reduce redundancy and create a more efficient patient-centric model of RCM. It's also important to ensure staff is properly trained on how automation and streamlined processes work—this will help them appreciate their value and worth.
No matter where you may be on your RCM journey, there are always ways that it can improve. When considering your next steps—such as leveraging tools or partnering with vendors—it pays to review these solutions to make sure they're most appropriate for your objectives while maximizing the effectiveness of each investment.

• Take a comprehensive approach to healthcare. It's easy to get trapped in your own area of influence and overlook that each part of the healthcare field adds up to the entire experience. Imagine you were the patient-- they view their interactions with your organization as one continuous journey, so you should take this perspective as well. Exchange data, streamline operations, and facilitate communication between departments so that all patient encounters are connected and cohesive. Be sure your practices-- from tools used to outsourcing partners chosen-- adhere closely to this same idea if you don't want patients' experiences scattered or disconnected.

• Increasing operational efficiency can involve upgrading the tools you already use for revenue cycle management. Start by identifying what current solutions lack in automation and self-service options. When looking for new solutions, avoid those that are prone to these same issues. To ensure you get the most out of your RCM processes, partner with a solution provider who's experienced in healthcare and RCM workflows. Together, you'll be able to realize both short-term and long-term goals.

• When looking to outsource, it is important to be discerning. Find providers that demonstrate a patient-centered approach and put an emphasis on investing in their employees. Search for firms with a professional focus, equipped with knowledgeable RCM and client engagement teams who are consistently learning through education programs. Our ideal partner will act as an extension of our own team, utilizing the same brand and exhibiting the same professionalism. Above all else, find a partner committed to making patients’ needs their priority at all times—through technology and service alike.

Why Centaur Billing?
Centaur Billing’s Revenue Cycle Solutions are unparalleled in the industry - offering a comprehensive set of software and services from one, trusted source. Our solutions range from technologies to disruptive automation systems such as AI, ML, RPA, and APIs, helping streamline operations and reduce operational waste. We also understand the need for patient-centered healthcare excellence. That’s why we strive to improve access and transparency for consumers during their healthcare journey; improving satisfaction levels which ultimately results in an increase in revenue for providers.

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Please note that the information in these materials is for general informational purposes only. It is not intended to constitute legal or compliance advice, and you should not act or refrain from acting based on any information provided in these materials. Neither Centaur Billing nor any of its employees are your lawyers. If you have specific legal or compliance questions, please consult with your own legal counsel or compliance professional.