The average individual lifetime expenditure for health care is approximately $316,600 according to a study by the U.S. National Library of Medicine and the National Institutes of Health. In the new culture of consumerism within the healthcare industry, one bad experience could cost your practice a significant portion of that revenue and not just for that patient, but also for their family members and possibly their friends. Can your practice afford to lose that kind of revenue because of poor patient engagement?
You just received a phone call from an upset patient because their overdue balance with your practice is affecting their credit, and they are trying to get a loan for new car. It is the mission of your healthcare organization to establish lasting relationships with your patients while providing the highest quality patient care, so you begin to wonder whether credit bureau reporting past due balances is really the right choice for your practice.