We recently partnered with leading research firm Forrester to find the proven value that healthcare providers can obtain when they redesign their financial experience to better understand a patient’s capacity to pay, engage them via an omni-channel approach, and make it easier for them to settle their balances by providing personalized financial options.
See below for a deep dive into highlights from the study, including data, articles, and our brand new on-demand video.
A better financial experience for patients pays dividends
The value presented is based on the strong ROI Forrester Analytics found that Flywire drives for its clients and confirms that a better patient financial experience can deliver measurable results for hospitals and health systems.
- Increase revenue collections by 29%
- Reduce staff involvement in patient billing by 30%
- Reduce cost of paper statements by 20%
- Improve customer satisfaction with a better consumer experience
The ROI number, 269% is a very good ROI. $25 million in benefits. The largest by far was improvements in collecting revenues. The payback period was less than six months.
By investing in Flywire, the health systems we spoke to had transformed their financial experience which resulted in increased use of digital self-service payment tools.