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IMPROVING THE PFX JOURNEY

PATIENT FINANCIAL EXPERIENCE IS CHANGING

Patients are shouldering larger portions of their healthcare bills with increasing deductibles and co-pays. As a result, it’s more important than ever for hospitals to incorporate a well-strategized Patient Financial Experience (PFX) to benefit not only the hospital’s financial well-being, but that of patients and overall satisfaction beyond the clinical experience.
230%
Increase in average annual out-of-pocket costs in past 9 years1
50%
Increase in reimbursements collected directly from patients by 20192
82 %
of patients will recommend a hospital if they are satisfied with their patient financial experience3

1 Kaiser Family Foundation 2015 Health Benefits Survey
2 Estimates from Citi Retail Services, CitiGroup
3 HIMSS Media, Healthcare Finance News, 2016 The Year of Consumerism in Healthcare

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PATIENT FINANCIAL EXPERIENCE MATTERS

Increasing cash and decreasing costs, while improving your PFX, is imperative to doing business in healthcare today. There are steps your organization can take to lessen or eliminate collection hindrances, whether it's collecting co-pays, discussing financial obligations, managing denials, establishing workflows or accelerating account resolution.

Improving the PFX starts with establishing the importance of your patient's financial treatment, similar to how you approach the clinical services. Guide your patients' journey through the healthcare reimbursement maze to find the most appropriate solutions for their situation. 

Avadyne Health has the software and services to enhance effectiveness at every stage in the PFX Journey.

INCREASE AND ACCELERATE CASH AND ELEVATE YOUR PFX

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TAKE THE PULSE ON YOUR PFX

  • Do you have a detailed discussion with each patient about their financial obligation? 
  • Do you generate patient financial satisfaction scores and use them throughout the revenue cycle? 
  • Do you start your prepayment plans pre-service?

Assess if your hospital is delivering the optimal Patient Financial Experience. Take our PFX survey to understand how you rate.

FIND OUT YOUR PFX SCORE
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