Healthcare must become as digital and consumer friendly as retail and banking

Introduction

In a world where consumers can order dog food, schedule a haircut, or buy a plane ticket with just a few keystrokes, the complexity of the healthcare system stands out starkly. Patients often find themselves wondering why healthcare has to be so complicated and outdated. The digital transformation of retail and banking has raised the bar for convenience and efficiency, and it's time for healthcare to follow suit.

The Digital Deficiencies in Healthcare

Healthcare's digital deficiencies are creating a time-consuming, confusing, and overly complicated experience for patients. This is not just a matter of technology; it's about matching the patient experience to the convenience and efficiency of online tools used in retail, banking, and even grocery shopping. The need for a more digital and consumer-friendly healthcare system has become increasingly evident as consumers grow more dependent on convenient and efficient online tools.

The Impact of Inefficiencies

The current state of healthcare is plagued by inefficiencies that affect both patients and providers. One of the most significant issues is the manual and outdated processes still prevalent in many healthcare systems. For instance, while electronic payments are becoming the default way to bill patients, paper statements with return envelopes for checks are still common. This not only adds complexity but also slows down the payment process.

Moreover, the lack of digital tools makes many routine tasks cumbersome. Patients often have to remember login details for patient portals and enter card information manually, which is time-consuming compared to the ease of using digital wallets like Apple Pay or Google Pay. These payment technologies are being rapidly adopted, but there is still a long way to go in making healthcare payments as seamless as those in retail and banking.

The Benefits of Digital Tools

Digital tools can significantly improve the patient experience by providing flexibility and convenience. Here are some key benefits:

• Self-Scheduling Appointments: Online scheduling allows patients to book appointments 24/7/365, giving them the flexibility to schedule at times that are convenient for them. This avoids the need to call during business hours, wait on hold, and then hope for a suitable time slot.

• Online Payment Tools: Digital payment tools eliminate the need for paper statements and checks. Patients can pay anywhere, anytime using their preferred payment method, whether it's a credit card, debit card, or digital wallet. This not only speeds up the payment process but also reduces administrative costs for healthcare providers.

• Pre-Visit Cost Estimates: Providing patients with pre-service cost estimates helps them plan their finances better. This transparency reduces the burden on patients experiencing social determinants of health (SDOH) issues, such as financial strain, housing instability, and lack of access to healthcare.

Lessons from Retail and Banking

Retail and banking have transformed their customer experiences through digital transformation. Here are some lessons that healthcare can learn from these industries:

• Consumerization of Healthcare: The shift in focus from the healthcare market as a whole to individual healthcare consumers is a significant trend. Providers must adapt by offering digital patient engagement and payment tools that mirror the convenience and flexibility of retail and banking.

• Digital Customer Journeys: Banks have successfully mapped customer journeys to deepen customer relationships and facilitate transactions. Similarly, healthcare organizations should focus on mapping patient journeys, providing customized experiences based on patient data, demographics, and personal health goals.

• Unified Customer Views: Banks are increasingly focused on creating a unified customer view, capturing discrete customer glimpses to build meaningful contextual views. Healthcare can achieve similar unified views by integrating patient data from multiple portals, EMRs, and EHRs.

The Path Forward

Healthcare organizations must prioritize digital transformation to improve patient satisfaction and drive higher patient volumes. Here are some steps they can take:

1. Implement Digital Engagement Tools:

   • Self-Scheduling: Enable patients to schedule appointments online.
   • Payment Options: Offer flexible payment plans, including electronic payments and digital wallets.
   • Pre-Service Cost Estimates: Provide detailed estimates before procedures.

2. Enhance Digital Experiences:

   • Customized Experiences: Tailor digital tools based on patient data, demographics, and health goals.
   • Unified Patient Portals: Integrate all patient information into one portal for easy access.
   • Real-Time Updates: Ensure real-time updates on appointment status, billing, and treatment plans.

3. Streamline Operations:

   • Automation of Processes: Automate routine tasks such as billing and follow-ups.
   • Reducing Paperwork: Minimize paperwork through electronic documentation.

Conclusion

The need for healthcare to become as digital and consumer-friendly as retail and banking is no longer a suggestion; it's a necessity. By adopting digital tools like self-service appointment scheduling, online payment options, and pre-visit cost estimates, healthcare providers can significantly improve the patient experience. The lessons from retail and banking are clear: providing a seamless, convenient, and transparent experience is crucial for building trust and driving results in healthcare.

In the words of a tech CEO, "Healthcare has to let go of manual and inefficient processes and embrace more modern digital tools." The time for transformation is now, and by following these steps, healthcare organizations can ensure that patients receive the same level of convenience and efficiency that they expect from other industries.

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References https://www.healthcareitnews.com/news/healthcare-must-become-digital-and-consumer-friendly-retail-and-banking https://www.physicianspractice.com/view/retail-platforms-are-changing-patients-expectations-for-digital-tools https://www.healthcareittoday.com/2024/08/23/what-healthcare-can-learn-from-financial-services-about-digital-experiences/ https://www.cmswire.com/customer-experience/how-retail-banking-and-healthcare-approach-the-customer-journey/