Patient Self-Service Drives Revenue Growth at Inspira Health

Healthcare has a patient financial responsibility problem. The burden of high deductibles, out-of-pocket costs, and other medical expenses has increased exponentially over the last decade, making it harder for patients to pay their medical bills on time and for providers to run their revenue cycle smoothly.

Accelerating the patient collections process is a major opportunity for most provider organizations, especially after the economic crisis brought on by the pandemic. But a lack of digital tools and patient self-service capabilities has hindered healthcare’s progress with addressing the pressing patient financial responsibility problem.

Inspira Health, for example, redesigned its patient portal and partnered with patient payment technology company Patientco to implement a suite of digital tools, including patient wallet capabilities. But technology must be user-friendly in order to drive more self-service interactions and, in turn, healthcare revenue, Carbone warned.