Web portals have become the de facto standard for communicating information, giving consumers the ability to review large amounts of their data on their own schedules, and from whatever location and device is most convenient to them. For laboratories, radiology groups, and medical device companies, a patient portal is an excellent means for establishing and strengthening relationships with patients. Given the continuing trend toward higher deductible health plans that effectively shift more of the financial burden onto patients, it's never been more critical to establish strong relationships with patients.
According to McKinsey & Company,"more than 90% [of insured patients] are willing and able to pay liabilities less than $500. Yet collection rates lag well behind these levels [at 50-70%], even for relatively low-ticket payments." Patient portals help improve these statistics by providing a convenient and secure way for patients to make payments.
Of equal importance, a patient portal can simplify and speed the process of obtaining updated patient and insurance information, which in turn speeds and improves claim submission, and frees staff time for other activities.
Because it's built on the XIFIN Health Economics Optimization Platform, the XIFIN iNetTM Patient Portal eradicates data synchronization and latency issues—payments made on the portal are instantly reflected in the billing system, and updates within XIFIN RPM are immediately visible in the portal.
Watch this interview with XIFIN founder Mike Coats to learn more about how the XIFIN iNet Patient Portal and similar capabilities can positively impact your bottom line. Benefits these solutions include: