As we covered in a previous blog, patient demand for better online and digital payment options has long been on the rise. In a world where everyone is connected online, physical “check in the mail” payments are quickly becoming an antiquated practice. Online payments are no longer seen as an alternative means of payment but have become very much the standard for today’s consumers.
The healthcare industry is predicted to experience an unprecedented level of cyberattacks in 2021. That’s a pretty crazy thing to claim, considering healthcare has already been one of the most heavily targeted industries for decades. However, while healthcare providers and staff have become savvier on how to avoid such tricks over the years, cybercriminals have changed tactics time and time again, finding new ways to compromise data. In response to these ongoing threats, research also predicts the healthcare sector will spend upwards of $125 billion on cybersecurity from 2020-2025.
As many of our readers are already aware, Nextech is going virtual with its Seventh Annual User Conference, EDGE 2021 (registration is now closed). After much preparation, this year's meeting will feature over fifty sessions focused on improving the performance of your specialty practice in an immersive virtual environment. Our experts will discuss ways to improve operational efficiency, increase profitability and grow your business in addition to covering the latest regulatory changes and industry trends.
Patient demand for better online and digital payment options has been increasing for years. In 2017, a survey found that 68 percent of patients want their healthcare providers to offer digital payments options. Two year later, in 2019, another study found that 81 percent of consumers wanted their healthcare providers to offer more online payment options.
Recently, online healthcare review site Healthgrades analyzed 2.4 million online reviews to create their 2020 Patient Sentiment Report. This report reinforces something that most people in healthcare already know, which is that online reviews can either make or break a healthcare practice. It also discovered that 75 percent of healthcare reviews mention quality of care and that “a patient’s opinion of a doctor can be dramatically influenced by the overall experience of the visit and interactions with office staff.” This means that, in order to encourage patients to leave positive reviews, there are additional things your practice needs to do beyond simply providing quality care (though that is still important, too).
When it comes to Electronic Medical Records (EMR) and Electronic Health Records (EHR), there has been some confusion as to just what these terms mean. This has led some to mistakenly use these two terms interchangeably, when they are in fact not the same and have different definitions and features. To help our readers better understand how to differentiate between them, this blog will provide an overview of EMR vs. EHR.
Millennials and Gen Z are often mistakenly blamed for “killing industries“ as well as wrongly accused of being disconnected and self-absorbed. If you look at the facts, however, you will see that none of these stereotypes are accurate about the majority of today’s younger generations. In all honesty, they are struggling in the face of an uncertain future while stuck with stagnant wages that have long lagged behind the rate of inflation. The truth is that they aren’t intentionally “killing industries.” For the most part, they simply do not have as much disposable income as older generations such as Baby Boomers and Generation X.
A lack of patient loyalty could be costing your practice more than you might think. According to one study, a patient leaving due to dissatisfaction can result in a financial loss of $200,000 over the life of a practice. The same study also found that one in eight patients claimed they had left their healthcare provider in the last year, and that one in three were planning to leave their current providers sometime in the next two years. In a healthcare marketplace where consumers have taken more control of their healthcare choices, it can be easier than ever to lose patients due to a poor patient experience.