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© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
Friday, December 4, 201512:00–1:15 pm PST
The Patient Financial Experience:A Link to Patient Satisfaction, Payment and More
© 2015 Simplee All Rights Reserved.
@adractas
John Adractas is the Chief Marketing and Growth Officer at Simplee.
John is an expert and frequent speaker on innovation marketing,
engagement, and analytics. He held leadership roles at three venture-
backed enterprise companies in addition to Google. Earlier in his career,
John was a venture capitalist.
He holds an MBA from Harvard Business School and a BA from the
University of Pennsylvania.
Speaker
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© 2015 Simplee All Rights Reserved.
@adractas
Gameplan
1. Perspective
2. New model
3. Field learnings
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Credit: J. K
ohl
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.4
Credit: happythanksgivingday.xyz
Delivering food vs. creating a dining experience
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
Consider...Patient view of their financial journey
Am I making smart choices?
How much WILL THIS COST?
Are these the CORRECT
AMOUNTS?
Is this going to be a hassle?
How will (can) I pay?
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© 2015 Simplee All Rights Reserved.
@adractas
Transaction → ExperienceWrap complexity to focus on “patient success”
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Price / Cost Estimate Post-Servicebill
Point of ServicePre-Service CallEligibility
Check-In
Patient Financial Experience
© 2015 Simplee All Rights Reserved.
@adractas
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Links to payment + loyalty
Source: Longitudinal study of patient satisfaction with billing and payment experience by Connance (Consumer Impact Study, 5th annual, results published Aug 2014, sample size n=500)
© 2015 Simplee All Rights Reserved.
@adractas
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References: BAI = Balance After Insurance1. Kaiser Employer Health Benefits Survey (2014) http://kff.org/report-section/ehbs-2014-section-five-market-shares-of-health-plans/2. The Advisory Board: The Daily Briefing (13 Aug 2013) https://www.advisory.com/daily-briefing/2013/08/13/khn-hospital-bad-debt-climbs-as-coverage-costs-are-shifted-onto-workers
"Hearing from members they are seeing an increase in bad debt and even in charity care for people with high-deductible health plans"
Caroline Steinberg (VP Trends Analysis)American Hospital Association
5x in 8 years
BAI is the new black (I mean RED…)
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Creates high expectations
Think “1 click”.... “2 seconds or less” before abandon.
71% consumers report valuing their time is most important thing a company can do to provide good service.
Source: Forrester: “Understand Communication Channel Needs To Craft Your Customer Service Strategy”, March 11, 2013Photo credit: https://www.helpscout.net/blog/self-service/
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
Banking
● 58% prefer self-service banking3
● 35% use mobiles for banking3
Retail
● 100M visit Amazon monthly1
● 66% supermarkets have self-service2
● 25% of all transactions2
Energy
● 71% prefer bills online2
● 69% prefer payment online2
INSIGHTSelf-service already a norm (outside healthcare…)
References: 1. Richter, Felix. “E-Commerce in the United States.” Statista. 30 October 2012. Accessed October 8, 2014. www.statista.com/chart/683/e-commerce-in-the-united-states. 2. Jones, Raymond D. “Maximizing Opportunities at Self-Checkout.” Dechert Hampe Consulting. 2012. Accessed October 8, 2014. www.dechert-hampe.com/images/stories/Opportunities_at_Self_Checkout_120427.pdf. 3. Geffner, Marcie. “Consumers still like online banking.” Bankrate.com. October 9, 2013. Accessed October 10, 2014. www.bankrate.com/financing/banking/consumers-still-like-online-banking.
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© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
Requires trust + convenience, good to do anyway
Case study: Airlines
● Jumped 20% → 80% in 8 years1
● Transformed check-in experience and agent’s role
Reference: 1. Drennen, Hannah. “Self Service Technology in Airports and the Customer Experience.” (2011). UNLV Theses/Dissertations/ Professional Papers/Capstones. Paper 1053. Accessed October 8. 2014. digitalscholarship.unlv.edu/cgi/viewcontent.cgi?article=2054&context=thesesdissertations.
Credit: P
aul Sabelm
an (Flickr)
Credit: Tom
er Shoval
11© 2015 Simplee All Rights Reserved.
© 2015 Simplee All Rights Reserved.
@adractas
All Rights Reserved.12
OPPORTUNITY!Strategic complement to clinical experiencePatient financial experience is...
A. Last impression
B. First impression
C. Common to ALL patients
D. Affects “significant” dollars
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
1. Perspective
2. New model
3. Field learnings
Gameplan
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Source: Registered trademarks of Amazon, Inc, Southwest Airlines, Inc, and Vanguard, Inc
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.14
Vision
Empower healthcare consumers with a financial experience
that enables a successful patient journey (+ builds loyalty!)
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@adractas
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Marketing
Revenue Cycle
Patient Experience“Dunning cycles”
Staff driven
Transactional
Painpoint
Integrated engagement
Self service optimized
Convenient “experience”, satisfaction driver
How?
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@adractas
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Let’s shield patients from back end complexity
Source: “Pay a Bill” page via US Bank on Peace Health website as of 28 October 2015
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… and do better than this.
Source: “Pay a Bill” page via US Bank on Peace Health website as of 28 October 2015
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
Engagement is like exercising a new muscle...
● Lean culture
● Challenge norms
PROCESS
PEOPLE● Executive passion
● Motivation alignment
● Insight: peers + beyond
SYSTEMS● Bold and clear KPIs
● Supporting technology
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Engage
AlignEmpower● Clean, modern designs
● Consumer friendly billing details integrated into payment
● Unified experience across hospital & physician services
● Pay by any method, any time, any device
● Self directed financing options
● Inline feedback, every payment
● Compelling info, easy access (eg, what do I owe & why)
● Convenient flow: guests + registered users (portal)
● Targeted communications that adapt by stage
Be agile Foster continuous learning around patient success
© 2015 Simplee All Rights Reserved.
@adractas
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Set a high barNew dimensions of success, aligned with patients
Price / Cost Estimate Post-Servicebill
Point of ServicePre-Service CallEligibility
Check-In
PATIENT
STAFF
COLLECTIONS
1. Engage early and adapt
2. Aim for empoweredpatients (think self service!)
ABANDON / WRITE OFF 3. Measure & drive satisfaction
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@adractas
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Source: National survey of “How Consumers Pay” by Federal Reserve of Boston, 2011 https://www.bostonfed.org/economic/wp/wp2012/wp1202.pdfNational survey of Healthcare CFOs and Revenue Cycle Executives by HFMA and Simplee (2014, n=150)
10X
5-10%
>50%
Healthcare bills
Household bills
Self Service Payment Habits
Healthcare opportunity to close gap
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
1. Perspective
2. New model
3. Field learnings
Gameplan
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© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
1. Engage patients and improve satisfaction
2. Create effective, scalable system for billing patients
3. Enable transparency across patient revenue cycle
Leadership matters:Define bold vision for patient revenue cycle
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@adractas
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STAFF ASSISTED● Answer phones● Post payments● Scheduling
Challenge→ Headcount pressure
SELF SERVICE ● Online/mobile payment● Patient driven payment plans
Challenge→ Learning skills, no existing headcount
It’s a balancing act
Borrowing today, tomorrow’s gains
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.25
Re-envision traditional experience
CASE STUDY
Source: Lancaster General Health’s patient statement and online payment portal
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© 2015 Simplee All Rights Reserved.26
Build trust:Make it easy to be confident along the journey
CASE STUDY
Source: Lancaster General Health’s patient statement and electronic version with friendly details via Simplee platform (images Nov 2015)
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
Increase engagement:Create financial journey campaignsCASE STUDY
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Source: Sample engagement emails sent by physician providers at Lancaster General Health to patients via Simplee platform (images Nov 2015)
● Go beyond “pay us now”
● Messaging adapts to stage
● Mobile friendly design
Welcome New BillBill
Reminders
Pre-collection Alerts
Thank you
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© 2015 Simplee All Rights Reserved.28
Empower patients:Help patients to pay on their own
“Love that it allows you a payment plan option, if necessary!”- Lancaster patient
CASE STUDY
Source: Sample engagement emails sent by physician providers at Lancaster General Health to patients via Simplee platform (images Nov 2015)
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.29
Capture more patients:Give patients flexibility, portal (SSO) + guests
“Very nice and quick and convenient. Kudos for using this method!”- Lancaster patient
“Thank you! Probably would have paid it sooner had I known it was going to be this easy.”- Lancaster patient
CASE STUDY
Source: Lancaster General Health’s patient billing homepage (images Sep 2015)
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© 2015 Simplee All Rights Reserved.30
Metrics matter: Self-service focus drives satisfaction + more
Source: 2014 baseline analysis from Lancaster General Health (LGH) Rev Cycle team + 2015 payments summary report from SimpleePAY backoffice for LGH
↑122%Self service
(2014 vs. 2015 Y-o-Y)
82%Recommend
(Billing and payment experience)
Single Checkout for Hospital + PhysicianConvenient guest flow, integrated into patient portal too
CASE STUDY
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© 2015 Simplee All Rights Reserved.31
Net collections increase too
-45
1
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Source: 2014 baseline analysis from Lancaster General Health (LGH) Rev Cycle team + 2015 payments summary report from SimpleePAY backoffice for LGH
Overall growth $1.6M, self-service up $1.7M
CASE STUDY
↑ 14% growth year over year
© 2015 Simplee All Rights Reserved.
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CASE STUDY
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Making it easy captures inbound interest
Source: Memorial Hermann homepage (16 Oct 2015)
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Self service focus can have many benefits
Source: 1. Patient survey after self-service payment on SimpleePAY Comments for question: “How likely is it you would recommend [Leading regional hospital] to a friend or colleague due to your recent payment experience?” (n=12,749, Response rate = 30.3%, Answers range 0 to 10)2. Cost per payment on post service basis, excludes point-of-service transactions. 3. Net collections includes all patient self pay, from pre service to point-of-service to post-service.
↑ 57% Digital self-service
↓ 24%Cost per payment
(Post service2)
↑ 17%Net collections3
“Model implementation”Live system wide in 5 months
12 hospitals, 135K patients, 1,200 staff
41Net Promoter Score
(Billing and payment experience1)
CASE STUDY
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Net Promoter Score
41
1
-45
Source: Patient survey after self-service payment on SimpleePAY Comments for question: “How likely is it you would recommend [Leading regional hospital] to a friend or colleague due to your recent payment experience?” (n=12,749, Response rate = 30.3%, Answers range 0 to 10, average 8.38)
“Very easy and fast! I didn't even have to enter my address.”
“I was on hold, so I decided to log on and it was faster and convenient for me. Thanks”
“Payment plan was REALLY easy to set up.”
“I appreciated not having to use a username/password”
“Love that I can see what amount owed is for.“
“Just paid one at [different hospital] and it took me twice as long.”
“I really like this new email bill.”“Thank you for allowing me to pay you in small payments and when I am able to do so. Thank you very much.”
“This was so easy and quick that I almost fell off my chair.”
Extend visibility for satisfaction and insights CASE STUDY
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@adractas
CASE STUDY
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Empower staff to shift to higher value activity
Source: Compares pre launch (Epic MyChart with paper statements and online) to post launch with Simplee (paper and online). For savings, compares Simplee licensing, contingency fee, and paper statement costs to average of previous months.
↓ 21%Cost per payment
(post service1)
↓ 50%Incoming calls(24 FTEs re-allocated)
Greater Collections, Faster Gains
Self service
75%“Very Satisfied”
(Billing and payment experience)
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@adractas
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Easy access to patient estimates are coming...
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@adractas
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Patient seeks:● Confidence (to proceed…)
● Price
Provider seeks:● More patients, better engaged
● More payments, sooner● Insights
Estimates are a HUGE opportunity
Support decisions: education + value
© 2015 Simplee All Rights Reserved.
@adractas
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Closing thoughts:
Financial journey is a common denominator
“Brand” is what your prospect thinks of when he/she hears your brand name
Today’s painpoint → tomorrow’s advantage
© 2015 Simplee All Rights Reserved.
@adractas
© 2015 Simplee All Rights Reserved.
Q&A
One platform, one (delightful) experience.
John AdractasChief Marketing and Growth Officer
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