In today’s highly competitive healthcare market, patients have options regarding 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, there are ways to reduce it so your business thrives. Remember, acquiring a new customer costs five times more than retaining one. This financial advantage underscores the importance of patient retention and should motivate you to focus on this aspect of your business. 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:

#1: The Front Desk.

Never has so much money, time, energy, and effort gone into such a small portion of your practice to have so many things go wrong.

Solutions

·         The Phone: As a medical practice owner, you can relate to the dreaded sound of background music or even silence. Few things are more frustrating than waiting on hold for more than many long 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. Understanding this frustration is critical to improving patient retention. Most modern ERM platforms allow patients to schedule directly. I realize that some providers prefer more control; in that case, consider a Virtual Assistant if you have a live person answering the phone.  Or at least have the phone operator not sitting at the front desk.

·         Virtual Assistants: can free up the in-office staff to address in-office patients. During one of my case studies, I witnessed several patients walk past the front desk without paying their co-payments, scheduling a follow-up, or even making eye contact while the “front desk” person was on the phone

·         Staff training is crucial:  Times have changed, and hiring and training staff differs from just a few years ago. As a medical practice owner, you have the power to ensure your staff is well-trained and capable of providing the best service.  I saw my provider recently and witnessed two staff members talking to each other so loudly near the reception area that the clerk trying to get my information could not hear me. I was forced to repeat myself multiple times.  Training involves much more than just knowing the ERM. Teaching etiquette, time management, and responsibility are tough, so making wise hiring choices is critical. But with the right training, your staff can become the backbone of your practice, ensuring patient satisfaction and retention. This is not just an option. It's a necessity for the success of your practice.

·         Attention to detail: The first steps in getting paid for claims start here. Getting the patient’s demographics and insurance information correct is paramount.  Does the insurance need to be authorized, or is it even valid?  In my 25-plus years within the Revenue Cycle area, this has been the hardest to correct and has the most significant detriment to cash. The person doing patient intake has to be very detail-orientated and cannot be interrupted or expected to multitask.  This is important but also difficult since smaller offices only have one or two people, who are expected to do everything while simultaneously answering the phones.

 

 

#2: Internal Marketing Processes. 

We work with many offices and have this conversation: how do my patients find me, and how do I keep them? Most EMR platforms have various tracking reports on demographics, sources, birthdays, etc.  Do you use them or have a process to adapt them to be inclusive to the overall marketing strategy? Many offices will hire a marking specialist to provide external strategies, but since they are unaware you have client relationship software built-in; the most cost-effective marking is not used.  Email marketing has some rules, but they are easy to adapt to your practice.

An example would be asking the patient to opt for email marketing as part of your intake.  Sending them a birthday email would keep you on their radar, and emailing a link to your blog, Facebook post, or other social media would be a great way to utilize inexpensive tools together.  Don’t forget to ask for a referral from those clients and remind them of your services.

 

#3: Make it easy to pay

Patients want a modern, personalized clinical experience and seek the same on the financial side.  Too many times, I hear from clients, “We serve an aging demographic.”  My elderly mother is primarily blind and has neurological damage.  Opening a physical envelope or writing a check is beyond her, but she uses Apple Pay and pays online.  I asked my 78-year-old father if he preferred getting a physical or electronic invoice.  He started ranting that the only bill he gets in the mail is the water bill and how it’s a hassle since he travels and is not at home for weeks at a time, and by the time he gets the bill, it’s already overdue. 

Another thing I hear is the cost of automation; it doesn't value time or expense. Back in the old days, we billed statements. I don’t think we did a proper job of analyzing the actual cost of statements, and I heard all kinds of numbers thrown around, but thanks to InstMed’s thorough report, the numbers don’t lie. Statistics show that 75% of providers require more than one statement to collect patient balances.  Postage and labor costs have increased multiple times in the last few years. Then there is the waiting for several weeks to get that payment back from the patient.

Solutions: 

·         Rely on collecting payments at the time of service. 

·         Co-payments are printed on the insurance card or can be found on payer portals

·         Many EMRs have Credit Card on-file features

·         Add on vendors such as Inbox Health, use the data from the EMR to bill patients automatically electronically, set up payment plans, send reminders, and call on delinquent accounts.

·         Electronic statements are usually interactive, eliminating phone calls and speeding up payments by weeks, improving patient communication.

 

#4: You only offer in-person visits.

In today’s fast-paced society, patients seek convenience above all else. Your medical practice may be at a major disadvantage if it doesn’t offer telehealth appointments.

Solution: Telehealth and how to use it.

·         Accessibility: Evaluate telehealth platforms and services that align with your practice's needs.

·         Patient Education: Inform patients about the benefits of telehealth and how to access it.

·         Hybrid Model: Consider offering a combination of in-person and telehealth appointments.

·         Mobile service: Depending on the type of service, mobile service can be the ticket to for growing your practice

#5: You overlook the effect of staff turnover on patient retention.

According to a Medical Group Management Association survey, front office staff turnover rates across all practices hit 40% in 2022, while clinical support and business operations support staff turnover rates were 33%. Sometimes, these are physicians and other staff members with close patient relationships. When these individuals leave your medical practice, patients may go with them.

Solution: Focus on ways to retain physicians and staff. They should also be empowered with technology that improves efficiency and reduces burnout. Involving all staff in process improvements will help empower the staff and improve cash flow.

 With the changing landscape, reduced reimbursements, and rising staffing costs, the time has come to abandon the old status quo.