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Study Shows the Billing Experience is a Dealbreaker for 93% of Patients

Article

Advanced Dermatology and Cosmetic Surgery utilized a streamlining tool to increase their net profit by $9.5 million in 1 year.

Up to 93% of patients say that the quality of their billing experience plays a factor in whether they return to a provider. When bills and explanations are confusing, patients feel frustrated, anxious, and even angry.1

fizkes/AdobeStock
fizkes/AdobeStock

To address this issue, Advanced Dermatology and Cosmetic Surgery (ADCS), a network of dermatologist experts in 14 states, looked for technology and software to improve their pre- and post-visit communication and billing processes. The multi-state dermatology network utilized the Cedar Suite to enhance patients’ experience and noted a $9.5 million increase in net profit in one year and had a 26% reduction in the patient no-show rate.2

The tech company conducted a study of 1500 individuals in the US in 2021 to identify the biggest concerns affecting the return rate of patients to a practice. Cedar wanted to know what providers can do to improve the overall experience for patients. In their study they found that “93% of consumers say that the quality of their billing experience is an important factor in whether they’ll return to a provider.”1

Because the initial visit requires the added steps of inputting a new patient’s history, insurance, and medical conditions, utilizing a system that streamlines the process can save valuable time. ADCS credits the Cedar Suite’s integration with their practice management system to allow for pre-visit check-in through text and email with eliminating those steps for front-desk staff when patients arrive.

The system also allows for post-visit communication, which enables bill reminders and results in fewer missed payments. The simplified statement clearly shows how insurance was applied and enables users to easily manage payment plans.

The streamlined digital experience has resulted in an increase in net profit, as well as an increase in patient satisfaction at ADCS, with 91% of patients reporting that they feel a greater sense of understanding and control.2

Cedar’s research into patient habits suggests using one system to manage visits and payments results in patients being less overwhelmed by the overall experience and more likely to return to a dermatology office for important follow ups and continued care.

References

1. 2021 Healthcare Consumer Experience Study. Accessed June 14, 2023. https://pages.cedar.com/2021healthcarestudy-sign-up

2. Client Success: Advanced Dermatology and Cosmetic Surgery Adds $9.5 Million in Net Profit in One Year. Accessed June 14, 2023. https://www.cedar.com/adcs/?utm_source=media&utm_medium=pr&utm_campaign=adcs&utm_content=cs

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