Consumer Healthcare Behavior Is Changing: Three Changes That Will Stick Post-Covid in the Healthcare Revenue Cycle

Consider the ways in which Covid-19 transformed digital healthcare behavior. Before the coronavirus outbreak, just one in 10 consumers had tried telehealth. Now, experts predict virtual care visits will soar to more than 1 billion this year—and 89% of consumers report that they are satisfied or very satisfied with the experience. As this shift takes place, healthcare revenue cycle departments must assess how demand for digital access and excellence at each point in the care experience affects expectations for the patient financial experience—and where to invest to gain competitive advantage.

The all-encompassing impact of Covid-19 on consumers and their families requires that hospitals rethink their approach to consumer financial engagement. By anticipating the trends that could stick following Covid-19, revenue cycle leaders can develop a patient-friendly experience that promotes patient retention and satisfaction and strengthens their organization’s financial health.