ENGAGING THE PATIENT CONSUMER

Transcription

1 ENGAGING THE PATIENT CONSUMER Kitty Cawiezell EVP, MDsave DOES THIS PRIORITY LIST SOUND FAMILIAR? Increase Volume Increase Patient Satisfaction Increase Efficiency Reduce Overhead Reduce Bad Debt 1

2 YOU CAN GET THERE BY IMPLEMENTING A PATIENT-CENTERED STRATEGY MEET THE PATIENT CONSUMER 56% actively look for prices before scheduling care 47% say out-of-pocket cost is #1 factor in choosing a doctor 80% would prefer a single, bundled price for medical care Price Waterhouse Cooper 60% are confused by their medical bills Becker s 2

3 WHO IS SHE? studied 2015 healthcare shopping activity for 237k consumers nationwide 53% ages 25 to 44 62% women #1 Most Searched Term Labor & Delivery THE TOP 20 HEALTH CARE COSTS PEOPLE ARE LOOKING FOR IN THE U.S. 1. Labor & Delivery 2. Imaging and Radiology 3. Diagnostic/Labs 4. Colon Health 5. Office Visits 6. Breast Health 7. Weight Loss Surgery 8. Skin Conditions 9. Knee Conditions 10. Other Reproductive Health 11. Birth Control Surgeries 12. Hysterectomy or Hysteroscopy 13. Behavioral & Mental Health 14. Back and Neck Conditions 15. Allergies 16. Immunizations 17. Obstetric Care 18. Chiropractic Care 19. Physical Therapy 20. Heart Disease & Circulation Conditions 3

4 AS YOU CAN SEE, PEOPLE ARE SEARCHING FOR EXPENSIVE PROCEDURES... Cost/Shopping Category Example of Procedure National Average Heart Disease & Circulation Conditions Coronary Bypass Surgery $86,236 Back & Neck Conditions Lumbar Fusion $71,591 Back & Neck Conditions Cervical Fusion $57,107 Heart Disease & Circulation Conditions Coronary Angioplasty with Stent $44,301 Knee Conditions Total Knee Replacement $41,627 VARIES BY GEOGRAPHY WEST 1. Labor & Delivery 2. Imaging & Radiology 3. Colon Health 4. Breast Health 5. Office Visits NORTHEAST 1. Labor & Delivery 2. Imaging & Radiology 3. Diagnostic/Labs 4. Office Visits 5. Colon Health MIDWEST 1. Imaging & Radiology 2. Labor & Delivery 3. Diagnostic/Labs 4. Office Visits 5. Weight Loss Surgery SOUTH 1. Imaging & Radiology 2. Labor & Delivery 3. Weight Loss Surgery 4. Diagnostics/Labs 5. Office Visits 4

5 AND BY SEASON People shop for healthcare more in summer than any other time. While some procedures or search terms are big year-round, others become more popular depending on the weather. Fall Immunizations were 28% higher. 22% 30% Winter Weight Loss Surgery was 22% higher. Routine Eye Care was 25% higher. 20% 28% Spring Summer Colon Health was 13% higher. Knee Conditions was 15% higher. Endocrinological conditions (Prostate, Thyroid, Pancreas, Gallbladder, Appendix) were 18% higher. WHERE IS SHE GETTING INFORMATION? 24% of patients call the hospital 54% of patients call their doctor or insurer from PROVIDER S How frequently do patients request pricing information, in advance, for the full cost of a procedure? Frequently Occasionally 48% 52% shoppingtrends2015.healthsparq.com 5

6 WHERE IS SHE GETTING INFORMATION? Pricing on so-called transparency sites is often inaccurate or misleading, increasing consumer frustration. from TRANSPARENC Y SITES Out-of-date claim data Not inclusive of all services Based on Chargemaster Inconsistent with self-pay rates WHERE IS SHE GETTING INFORMATION? Many consumer sites focus on hospital rankings, such as Yelp. The rankings are typically user/patient reviews & many of the comments focus on level of care & cost. from ONLINE REVIEWS 85 million users 12 hospital scores HCAHPS Scores Cost of Hospital Visit Amenities Scheduling Staff Compassion ER Wait Time Physician Communication Noisiness of Rooms 6

7 HOW DO HOSPITALS COMMUNICATE WITH HER TODAY Heavily reliant on 1 form of communication: usually phone, leading to disconnects/transfers and poor customer satisfaction. Largely phone driven with some sort of automation like online scheduling. Process of building multi-channel communication. Generally department driven still leading to a fragmented consumer experience. Seamless consumer experience. Offer a broad and connected platform that offers consumer flexibility and staff empowerment. Offers staff ability to analyze patient needs and requests and respond appropriately. THE BAD NEWS Consumers will switch providers if the information they are seeking is unavailable or incorrect. The increase in health care shopping has significant consequences for hospital revenue. Advisory Board research found that a four-hospital system can see swings in revenue of $16 million to $40 million due to its price transparency strategy or lack thereof. 7

8 WHAT IS THE IMPACT? 67% of Patients who gave a hospital a negative net promoter score never paid their bill.** 95% of patients satisfied with the billing process will return to that hospital for care.** Self-Pay Patients do not pay out of pocket costs.* 10% Choose Long Term Payment Option 30% Pay Most of the Bill 60% Pay Nothing 74% of Patients who gave a positive NPS paid their bill in full.** * Price Waterhouse Cooper ** Connance Annual Consumer Impact Study THE GOOD NEWS You can engage the Patient-Consumer and meet your objectives by employing an effective solution for consumers that includes: Price Transparency Payment Efficiency Bundled Episodes of Care RECENT RESULTS 8

9 CASE STUDY #1 POS COLLECTIONS $1.75M $2.33M $581k increase in POS collections JAN - SEP 2015 JAN - SEP % year over year 3 rural hospitals in a 9 month study CASE STUDY #2 PATIENT SATISFACTION 91 NPS Please pass this on to the CEO... I would like to express how thankful I am I paid $420 on MDsave for an MRA of my brain but saw a copy of the $1,800 hospital bill they would've billed to insurance. My high deductible insurance would've maybe paid $100 of the bill. You saved me over $1,000. Tyler R, Kansas City, MO Finding a provider & price was easy to do on MDsave s website & saved me a lot of money. Setting up the appointment was fast & easy. Vickie A, Granbury, TX 769 patients responded (5% response rate) 9

10 CASE STUDY #3 DOWNSTREAM REVENUE 44% move forward with Subsequent Care (vs. Industry Standard of 30%) 5X more downstream than the original self-pay purchase 82 hospitals in a 12 month study CASE STUDY #4 OUT-OF-AREA PATIENTS 18% of Patients drove miles for care 2.4% of Patients drove 100+ miles for care miles Average Distance Traveled 21 hospitals in a 12 month study 10

11 CASE STUDY #5 SEAMLESS COMMUNICATION Patient Buys Voucher Hospital e-notified for Scheduling Service Provided / Voucher Redeemed All Parties Paid within 4 Business Days 2017 CONSUMER STRATEGY CHECKLIST Provide accurate estimates within a 20% variance Ensure a website presence with consumer-driven pricing Ensure your patient access staff is able to quote pricing, collect, and schedule Collect for a single episode of care with a horizontal bundle Provide effective financial assistance Provide a consolidated statement after the fact 11

12 MDsave CREATING VALUE FOR ALL CONSTITUENTS HEALTH SYSTEMS Improve patient satisfaction Increase procedure volume Accelerate payment Reduce bad debt Enable healthcare bundles PAYERS & EMPLOYERS Value-based reimbursement Build comprehensive bundles Process multi-party payments Integrate with benefit plans Reduce costs CONSUMERS Transparent pricing Upfront savings Familiar e-commerce interface Single payment, single bill Concierge service SAMPLE CUSTOMERS VIEW DEMO THANK YOU 12