April 5, 2016

Hospitals Respond to Cost Anxiety

By CarePayment

Hospitals Respond to Cost Anxiety

Hospitals Respond to Cost AnxietyDay Kimball Health Care is featured in a new HealthLeaders article titled “How Real Is Healthcare Consumerism.” Sarah Ginnetti, director of revenue cycle, says implementing a patient financing program has created a win-win solution for the provider and their patients.

From the article: “Patients are now paying their bill sooner rather than later, which, Ginnetti says, has allowed the health system to keep resources focused on helping the patient rather than trying to collect.”

The ability to offer payment plans to patients has also given Day Kimball an advantage over competitors. “Successfully engaging patients as consumers can create an ongoing relationship, especially if you help remove financial barriers by offering financing options and payment plans,” Ginnetti claims.

Marketing Day Kimball’s financial services includes helping patients make informed decisions through cost estimates and a patient-facing infographic about how insurance works.

Day Kimball has embraced the idea of healthcare consumerism, and it’s showing up in the bottom line: they have increased patient payments 27 percent since they started offering the CarePayment program.

For more information about Day Kimball’s patient financial engagement, watch their Provider Story.