Remember These Crazy Customer Service Statistics When Managing Healthcare Receivables

Managing healthcare receivables can be tricky business. It involves a good amount of tact, understanding, and a trained diplomatic approach. The highest number of complaints occur during the patient billing cycle, so knowing how to manage patients in a manner that is respectful to them, while also protecting your brand is what great customer service relations is all about.
Let’s go over a few key statistics regarding customer service to help underline the importance of the patient experience to your team.

What Bad Customer Service Can Cost You

Poor customer service can cost your organization a lot more than you think. For example, more than half of all Americans have abandoned a planned purchase due to bad customer service. Having a bad experience with a healthcare provider can lead patients to seek other alternatives. A quick Google search yields a plethora of articles like this one, in which the author praises the benefits of a great customer care experience, which he says often isn’t prioritized because “almost everything about the system conspires against good customer service.”

It’s no wonder that 33% of Americans say that they would switch companies over a single bad customer service experience. The takeaway lesson here, is that keeping patients happy by upholding high customer service standards while managing your receivables will also help your organization retain patients.

The Real Benefit Of Great Customer Service

The healthcare industry is challenging in that customers are uncomfortable, sick and in a vulnerable stage in their life. This is the fact regardless of the healthcare provider you use. What can change is the experience that a patient has from the moment they enter your building until the moment they resolve their outstanding invoice.

According to the Harvard Business Review, it is between 5 to 25 times more expensive to find a new customer than it is to retain a regular one. A great customer service experience will bolster your brands image and get patients to recommend your healthcare center to others. The true benefit of providing great service comes not only from leaving a patient happy, but by preventing an unhappy patient experience. Consider these statistics:

86% of customers will quit doing business with a organization after a single bad experience

Businesses typically only hear from 4% of dissatisfied customers

On average, consumers tell 9 people about good experiences, but 16 people about bad experiences

40% of customers say that improved interaction with service employees is a driving factor for spending more with the organization

73% of people cite rude staff as a reason for leaving an organization

One report found that 80% of companies believe that they provide a “superior customer service,” but only 8% of people said the same

After seeing these numbers it’s a clear that providing a great patient experience isn’t just an added commodity, but is a great way to actively invest in your business. When working with healthcare receivables, it’s important to understand the ins and outs of payment and insurance policies while still caring for the customer. This is doubly important in the healthcare industry. You want to make sure that any receivables management company you work with understands the importance of protecting your brand and customer service.

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Tavelli Co., Inc. has over 37 years of unparalleled experience in the debt collection and receivables management industry. Our mission is to achieve the right balance between getting clients paid and being empathetic to debtor circumstances, through implementing innovative practices, hiring experienced people, and improving business decisions through analytics. We provide peace of mind to all involved by collecting money with no complaints. Tavelli Co., Inc. takes the time to carefully listen to your customers and share their feedback with you through meaningful data and transparent communication, so you have access to the information you need to make quality decisions and improve your processes in the future. Contact us today and let the debt collection experts at Tavelli Co., Inc. help you set your business up for success.

IMPORTANT: Information provided by Tavelli Co., Inc., any employees of Tavelli Co., Inc., or its subsidiaries is not intended as legal advice and may not be used as legal advice. It is not intended to be a full and exhaustive explanation of the law in any area, nor should it be used to replace the advice of your own legal counsel.