Nobody likes to get a bill, but leading healthcare revenue cycle companies and their provider clients are taking steps to make the process of receiving and paying medical bills as painless as possible.
We all know that customers look at their billing statements. We estimate the open rate for billing statements for existing customers is between a whopping 95% and 97%. That compares to a 5.3% response rate for general direct mail using a house list and 2.9% using a prospect list from the Data and Marketing Association’s 2016 report. So, don’t let that prime real estate on the billing statement go to waste. Instead, look at your billing statement format as an ideal opportunity to improve customer engagement and create strong relationships.
How? Start by including information that educates customers about related products and services.
Yup, Chicago is as rainy and cold in early May as I remember from my days as a Florida native attending Northwestern University. But it was well worth leaving sunny, warm South Florida for the annual Document Strategy Forum (#DSF17CHI).
All the keynotes and presentations emphasized the growing strategic imperative for organizations to focus on and improve the customer experience as the key to growth and market differentiation. Of course, customer communications and payments are central to this effort, putting new urgency and pressure on getting them right.
Best practices are quickly evolving, prompting major changes in communications approaches, technology, organization and management. Here are some key takeaways from the Document Strategy Forum:
McKinsey & Company research shows consumers are steadily moving toward digital healthcare experiences. They are using new technologies developed for healthcare companies to both improve patient satisfaction with their payment systems and reduce dissatisfaction with healthcare as a whole.
We’re back from ARDA (#ARDAWorld), which was held in a new venue for the first time in 25 years. We found New Orleans to be an exciting change, with fun options for dining and entertaining clients. The sessions were exciting, too, with these topics generating the most buzz:
Here’s what we heard, plus we provide some food for thought on these issues.
I just finished up a great discussion at ARDA World 2017 (#ARDAWorld) on how to reach consumers using their preferred methods of communication while maintaining brand standards. The panel consisted of myself; Richard Jackson, VP of Information Technology at Hilton Grand Vacations; and Kris Singleton, CIO at International Cruise and Excursions (ICE). Our moderator was John Locher, chief consultant at Locher & Associates, a travel-related consulting firm.
