Hospital revenue cycle leaders should take multiple approaches to understand the behavioral decisions that prompt patient payment activity, said James Zadoorian, PhD, managing principal at ARxChange, which designs patient financial revenue systems.
One approach recommended by Dr. Zadoorian involves establishing exit or discharge payment interviews to ask patients why they're paying in full, making a partial payment or not paying at all.
"Related questions could center around how payment choices are presented and perceived, what cultural and process changes might alleviate payment dilemma and how better to support patients throughout their financial journeys," he said.
Dr. Zadoorian also recommended that hospitals make efforts to understand context and its role in patient payment decisions.
"Elective procedures for instance typically come with an economic preparedness, whereas unexpected emergent care catches consumers off-guard financially," he said. "And with four in 10 adults now struggling to cover an unexpected expense of just $400, understanding the behavioral influences that drive these decisions is central in all matters of patient economic affairs."
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.
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