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Healthcare employment numbers have steadily dropped since 2020, and those understaffing issues don’t seem to be going away anytime soon. According to an American Hospital Association report, one of the most challenging issues facing healthcare organizations has been the “intense pressure on staff.” 

As we head into 2023, many practices are left wondering how to fix the continual issue of an understaffed practice and streamline administrative workloads simultaneously. The solution lies in digital transformation. Technology can unlock new efficiencies so that you can start the new year off right – and Rectangle Health is here to help. Rectangle Health’s offerings can allow you to decrease your accounts receivable, implement various payment options, offer online scheduling options, improve scheduling management, and help your patients get the care they need with financing options like Care Now, Pay Later℠. 

Let’s explore the healthcare technology that can ease your practice’s processes in the new year.

Enhance your digital footprint

Patients want to connect with their doctor’s office the way they do for any other appointment: from the palm of their hand. Wolters Kluwer and Advanced Data Systems Corporation believe that in 2023, providers must be mindful of “customized, inclusive educational content” to represent all patients better and improve patient engagement. Your online presence can help patients navigate their health journeys and keep you connected. 

With our Practice Management Bridge® software solution, you give patients the ability to sign up for appointments and fill out registration forms online — saving your staff the time and attention needed to complete these tasks in the office. On the back end, Practice Management Bridge allows you to easily manage appointment schedules, giving you a clear picture of all bookings in your system.

Customizable texts let you remind patients of appointments, send links to payments, or announce new openings for check-ups. This saves you the time it would take to call each patient individually, improving day-to-day efficiency. Furthermore, SMS open rates are as high as 98%, meaning your patients will see the important messages you’re sending out via text versus the unpredictability of a voicemail or a paper message sent through the postal service.

Make it easier to get paid

Our Practice Management Bridge offers several options for your patients to pay their medical bills, helping to ease the financial burden and enhance the overall patient experience while increasing your practice’s bottom line. Patients can pay on their phone, through an online payment platform, or even in the office with contactless payments like Apple Pay. The payment process is streamlined for all parties by providing patients with choices. Rectangle Health can securely store patient payment information to make future financial conversations more efficient and convenient. 

Research from the University of Alabama concludes that patient engagement technologies contribute to a superior patient experience because they enable data access and improve patient-provider communication. Between enhanced communication and more efficient payment systems, it’s easy to see how the burden is reduced on administrative staff.

Offer flexible payment plans

The cost of living in 2022 increased faster than it has in decades. According to a Nationwide Retirement Institute survey, 14% of Americans canceled appointments in the past 12 months to see a provider due to high inflation, and nearly one-fifth of Gen Z and Millennials either canceled or postponed their appointments with mental health professionals. Inflation affects people’s physical and psychological well-being because they cannot afford essential health care. 

As a provider, you want to ensure that any patient can walk through your doors and have the ability to pay for the care they need. A study by Rectangle Health and PYMNTS.com reports that 56% of patients have a strong interest in payment plans for their medical bills, with an even higher percentage (73%) among bridge millennials (ages 33-43) and younger patients. 

Rectangle Health’s Care Now, Pay Later platform makes payments simple for your patients and runs no financial risk to your practice. You’ll receive funding upfront from our third-party financing partner while patients make their customized installment payments. This will help decrease your accounts receivable. No third-party portal is needed when you use Care Now, Pay Later. This enables you to start applications, monitor payment status, and view plan details through our Practice Management Bridge. Giving patients flexible payment options will assist them in getting the care they need as they navigate challenging economic times while improving your practice’s bottom line.

Understaffed practices are working harder than ever to care for patients who need it most. As we head into an unpredictable 2023, start the year by simplifying your practice’s processes and easing the strain on your team. Rectangle Health offers technology that can effectively streamline and automate your administrative workloads, improving the experience for your patients and mitigating potential employee burnout. This lets you focus on delivering outstanding care and growing your practice. 

Get in touch with Rectangle Health to schedule a demo or learn how to start implementing our solutions at your practice

 

References

  1. (2022, Sept. 15). New Report Highlights Financial Challenges Facing Hospitals That Are Jeopardizing Access to Care. American Hospital Association. Retrieved from https://www.usnews.com/news/health-news/articles/2022-07-28/staff-shortages-choking-u-s-health-care-system
  2. Johnson, S. (2022, July 28). Staff Shortages Choking U.S. Health Care System. U.S. News and World Report. Retrieved from https://www.usnews.com/news/health-news/articles/2022-07-28/staff-shortages-choking-u-s-health-care-system
  3. (2022, Nov. 2). Three pillars of healthcare technology predictions in 2023. Wolters Kluwer. Retrieved from https://www.wolterskluwer.com/en/expert-insights/three-pillars-of-healthcare-technology-predictions-in-2023
  4. Rosario, C. (2022, Sept. 15). Top 6 Healthcare Technology Trends for 2023. Advanced Data Systems Corporation. Retrieved from https://www.adsc.com/blog/top-6-healthcare-technology-trends-for-2023
  5. Cote, S. (2019, Oct. 4). The Future of Sales Follow-Ups: Text Messages. Gartner. Retrieved from https://www.gartner.com/en/digital-markets/insights/the-future-of-sales-follow-ups-text-messages
  6. Haun, C., Silvera, G. (2022, Nov. 2). Technology about me without me: An examination of the relationship between patient-facing technology and patient experience. Patient Experience Journal. Retrieved from https://pxjournal.org/journal/vol9/iss3/13/
  7. Kempken, M., Rivelli, E. (2022, May 13). Cost of living facts and statistics 2022. Bankrate. Retrieved from https://www.bankrate.com/insurance/homeowners-insurance/cost-of-living-statistics/#:~:text=The%20U.S.%20cost%20of%20living,and%20car%20insurance%20goes%20up.
  8. (2022, Oct. 25). Inflation taking a toll on health care and nutrition decisions in U.S. Nationwide Retirement Institute. Retrieved from https://www.prnewswire.com/news-releases/inflation-taking-a-toll-on-health-care-and-nutrition-decisions-in-us-301658563.html
  9. (2022, Oct.). Managing Healthcare Costs: How Patients Use Payment Plans Oct 2022.  PYMNTS and Experian Health. Retrieved from https://www.pymnts.com/wp-content/uploads/2022/10/PYMNTS-Managing-Healthcare-Costs-October-2022.pdf

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