Visiting the Doctor’s office or hospital is no fun task, but sometimes its necessary. However, when going to see your physician or local hospital, how is the business within the office affecting their overall business growth? A lot of how you perceive the overall business comes from the unfortunate billing that comes with your visit.
Patients who are highly satisfied with a hospital’s billing are twice as likely to return to the same hospital for non-emergent care than patients who are less than satisfied with a hospital’s billing. However, only 25% of patients gave billing a top score of 5.
When going to the hospital, you’re almost certain to tell others about your experience. Word of mouth is very important to a company and especially in the medical field. One-third of patients said their hospital billing experience directly affected the likelihood of referring a friend. In 2010, only 20% of patients were fully satisfied with the hospital’s billing. In 2011 there was a 2% increase and in 2012, 25% of patients were satisfied with the billing.
So, how does your business office treat those most in need? Patients who are dissatisfied with billing are more than twice as likely to be in fair or poor health. When the patients were asked, “Are you likely to return to the same hospital for a future elective service?”, 100% of patients who were satisfied with the billing process said yes. However, 64% of patients who were very dissatisfied with the hospital billing process said they would not go back to the same hospital again.
When your respondents are satisfied with the service and billing process, you will have more people paying in full than payment plans or even going to a debt collector. For bills greater than $100, 79% of people paid them in full. With the lack of satisfied customers, only 31% paid their bills in full.
When running a business, it’s all about keeping your customers satisfied with the services you all provide. So, be mindful of your billing as well, because with word of mouth being so popular amongst patients, when your customer is satisfied, 81% of them will recommend you to their friends. However, if your billing skills are poor and leave your customer dissatisfied, 64% will tell them to go else where. So, if you’re looking for customer loyalty, it might be time to improve your patient financial experiences.