70% of consumers are confused by EOB’s and medical bills according to instamed.com . Wouldn’t it be preferable to have transparency in medical billing and services? 60% of patients have requested an estimate for the cost of a service, but less than 10% were able to get an accurate one in a timely manner (patientengagementhit.com).
Among the worst things about US healthcare is the consumer experience. How often do you receive an EOB, or a bill, and have absolutely no idea what has been covered, why, and what you owe? Can you easily address questions to the provider so you know exactly what you are going to owe? How can you find out in advance what your insurance covers? Why is this all so difficult?
Can This Be Digital, Please?
Today’s patients are dealing with uncertainty in the healthcare arena, and are beginning to demand better services from their providers and payers. Patients want electronic billing, and user friendly digital tools to enhance their experience. They want transparency in costs, and the ability to pay online. Who wants to write a check? (One of my doctors doesn’t accept electronic payments. I have to send a check- in the mail to pay for whatever random amount the insurance company and the doctor have decided I owe!)
It’s not just patients who are frustrated. Providers often have long delays in payments from insurance companies and Medicare/Medicaid. They have their costs negotiated and their diagnosis questioned. Their billing departments interface with the insurance company, and often have their claims refused for technicalities. They end up waiting for patients to receive their bill, dispute the charges, and finally complete payment.
Younger patients especially are demanding a better quality of digital and electronic healthcare services, and they are willing to shop around for the best consumer experience (patientengagementhit.com). One experience all patients share is frustration by the high costs, and convoluted coverages of their healthcare plans and providers.
It is time for healthcare payments to happen in real time. Imagine this; you download an app, see what your costs are, tap your phone for payment, receive an electronic receipt and forget about it. Amiright!