Tapping into Patient Engagement to Sure Up Revenue Leakage in HealthCare

When patients don’t schedule a physician’s referred procedure or seek the same care from a competing healthcare system, that adds up to millions of dollars in annual lost revenue for a hospital system.

Why do 30% of patients never schedule these procedures or go elsewhere for care? And how can healthcare organizations solve this problem and recoup this revenue? It all comes down to patient engagement. And it’s doing the little things that make a difference, from helping patients understand the care recommendations, conducting the scheduling and financial counseling services for the patient, and scheduling them for the procedure.

Kevin Sleeper, Chief Growth Office at Abax Health, believes tapping into a better patient engagement system can stem lost revenues for healthcare networks, and provide increased patient satisfaction.

Kevin’s Thoughts

“Everybody knows that revenue leakage, referral leakage, patient leakage, whatever you want to call it, is an issue for every healthcare organization across the country. And you talk to people and, and they want to tackle it, but nobody’s quite sure how to solve it. Margins are at an all-time low, revenue’s down for most organizations, but more importantly, patient satisfaction, patient health is becoming an issue.

If patients aren’t seen for the care that they need. If they let these things linger, it becomes a much bigger issue and it becomes a more costly issue for organizations to deal with.

And the only way we’re gonna tackle it, is tackle it head on. It starts by identifying those patients that haven’t been seen and then focuses on patient engagement. And we can do a lot of things nowadays with technology, but patients get confused about the healthcare process. They wanna speak to somebody.

So, the patient engagement, the person on the other end of the line is incredibly important to make sure that they’re educated and understand why they need to come in. And we at Abax Health are really focused on identifying those patients.

We’re really creating a new category where instead of we’re looking at cost cutting or ways to reduce costs within a healthcare organization, we want to find that additional revenue that’s sitting on your quote unquote clinical books, uh, to help patients get seen in a timely basis.”