According to the Journal of the American Medical Association (JAMA), each year, the waste in Healthcare spending exceeds $850 billion (25%) in medical spending for the United States alone. The largest source of waste, according to the study, is administrative costs, totaling $266 billion a year. This includes time and resources devoted to billing and reporting to insurers and public programs.
Your company can increase its margins by auditing your customer’s life-cycle experience. Using the patient journey for breaking down the revenue cycle will provide target-driven objectives for improvement:
3. Charge (Payment) Capture
4. Utilization Review
6. 3rd Party Follow-Up
7. Claim Submission
8. Patient Responsibility
9. Remittance Processing
These six components of customer experience serve as the foundation and lens through which providers need to audit and address patient experience.
4. Physical Environment
A scorecard audit report will answer the following questions:
- How Strong are My Customer Relations?
- Where Do I Have Problems in How I Deal with My Customers?
- Which Customers Are at Risk?
- Which Customers Offer the Most Opportunity?
- What Should My Priorities Be to Improve Customer Experience?
Our Patient Experience Mapping Audits (PEMA) recommendations transform consumer experiences in the fields of healthcare providers, insurance payors, protected health information (PHI) and the immediate sociological environment with market-ready products looking to more rapidly gain customers and initiate new partnerships.