In today’s highly competitive healthcare market, patients have options in terms of where they receive care. If you’re a patient, that’s a good thing. However, if you own or run a medical practice, you know increased competition can work against you. One negative patient experience is all it takes for patients to leave … and never return.
The good news? While there is no way to eliminate patient turnover completely, there are ways to reduce it so your business continues to thrive. After all, acquiring a new customer costs five times more than retaining one, which is why it makes financial sense to focus on patient retention. You can’t control whether patients move out of the area or no longer need your services, but you can avoid these six common reasons why patients frequently search for a new provider:
You can relate to the dreaded sound of background music or even silence. There are few things more frustrating than waiting on hold for more than a couple of minutes during your busy day. This is true regardless of whether you’re trying to make a medical appointment, ask a health-related question, or gain clarity about a recent medical bill.
Solution: Streamline your call flow with interactive voice response (IVR). With IVR, you can handle inbound calls, greet patients, and collect payments over the phone. This technology streamlines the process for patients and makes the entire experience feel more efficient and engaging.
Nobody enjoys receiving a medical bill. What’s worse? Receiving a medical bill you don’t understand. Most of us would not pay a bill we suspect could be erroneous or that we feel is confusing.
Solution: First, think about redesigning your billing templates or partnering with a vendor that provides clear and concise patient-friendly billing statements that accurately describe what patients owe and why. If patients still have questions about their medical bill, provide empathic billing support via email, text, and live chat (in addition to the phone). Make it as easy as possible for patients to ask questions when and how it’s convenient for them to do so.
Patients want a modern, personalized clinical experience, and they seek the same on the financial side.
Solution: Give patients what they want by adapting to new patient payment trends. For example, some patients may prefer to receive a medical bill via text while others may prefer paper. Or they may prefer to pay in full or set up recurring payments to cover their balance. Patients may also want the ability to pay via credit card, digital wallet, ACH, phone, or check through an online portal with a simplified checkout across any device. Modernizing your patient experience helps you retain patients.
An uncomfortable or unpleasant waiting area is consistently a top reason why patients may not return to your medical practice.
Solution: There are many ways to tackle this by focusing on layout, seating, lighting, ambiance, and more.
In today’s fast-paced society, patients seek convenience above all else. If your medical practice doesn’t offer telehealth appointments, you could be at a major disadvantage.
Solution: Consider the possibility of telehealth offerings and other forms of virtual care that can boost your bottom line while simultaneously helping you improve patient retention.
Turnover rates for front office staff across all practices hit 40% in 2022, while clinical support and business operations support staff turnover rates were 33%, according to a recent survey from the Medical Group Management Association. In some cases, these are physicians and other staff members with whom patients form close relationships. When these individuals leave your medical practice, patients may leave along with them.
Solution: Focus on ways to retain physicians and staff. Also, empower them with technology that improves efficiency and reduces burnout.
Patient turnover is an unfortunate reality for many medical practices. However, with the right tools, physicians and staff can avoid common mistakes, minimize patient leakage, and improve patient retention. Learn how Inbox Health can help.