Nearly six in 10 consumers are more likely to recommend a provider with a great digital experience. But achieving high consumer standards often fall by the wayside, especially as health systems continue to face staffing shortages, razor-thin operating margins, and new market entrants that are challenging the status quo.
All this begs the question: How can organizations overcome the challenges to provide a positive consumer experience for patients?
To showcase how one organization is breaking through, we partnered with Keck Medicine of USC to share their transformational journey at the HFMA Annual Conference. Through a live session and conversations with healthcare influencers, we explored how Keck Medicine is committed to investing in and implementing new digital solutions that improve patient satisfaction and increase patient loyalty.
Tapping Consumerization to Build Customer Loyalty
“We know that today, consumers are not only comparing their experience as a patient against other healthcare providers, but against all other experiences consumers have as a whole.” – Jeremy Church, CFO at USC Care Medical Group of Keck Medicine of USC.
Since Keck Medicine implemented Cedar, there has been a 91% improvement in patient satisfaction, which in turn is driving a 39% increase in collection rates. Overall, they have also seen 8.2x ROI with Cedar Pay since implementing in 2020.
By overlaying systems of engagement within their core systems of record—for example, their EHR—Keck Medicine of USC is successfully building loyalty and trust with their patients, who can now clearly understand and trust their healthcare bills.
Listen to Jeremy and Seth explain in more detail how they were able to achieve these results through their commitment to improving the patient financial experience.
See our full results + exploration of Keck Medicine of USC’s transformation journey to improve the financial experience below.
📽️ Watch Jeremy + Seth explore how Keck Medicine of USC is differentiating itself from other health systems through its focus on the patient financial experience (MarketScale).
🎧 Hear Seth Cohen’s interview with John Lynn of Healthcare IT Today where he shares our vision for a broad, network strategy that will fix healthcare’s disjointed billing problem.
📰 Read more about the HFMA Annual Conference and learn about the trends that top CFOs are watching in 2023 (Healthcare Finance) and how organizations like Cedar are driving innovation and optimism within the space (Nordis Technology).
Liz Austin is the Executive Marketing and Programming Lead at Cedar.