Top 10 Patient Financial Engagement Alternatives & Competitors

Patient billing and payment are a patient’s ability to access, understand, and complete payment for healthcare services.

The Top Patient Billing and Payments Companies Report is intended to provide healthcare leaders with a broad view of patient billing and payment and showcase standout companies and solutions with proven market traction. Users can view quick summaries to help them identify which solutions might meet their needs and visit AVIA Connect to access detailed profiles and verified client lists, compare solutions, and generate Match Scores to narrow their selections.

More than ever, health systems need to adopt a data-driven approach to patient payments. Patients payments account for up to 30 percent of hospital revenues, but collecting from patients is often much harder than obtaining reimbursements from payers due to complexity, regulation, and patient means. Sift Healthcare equips health systems with an integrated data-driven toolset to drive patient financial engagement, which allows health systems to: Pre-clear patients upfront Get more patients on payment plans, earlier Execute omnichannel contact across the entirety of the patient journey, so the right patients receive the right messages through the right channels Help patients commit to meeting their financial obligations before service Utilize an integrated view of insurance-patient responsibility to present and early and accurate summary of patient responsibility and optimize account resolution

AVIA Marketplace's Top Patient Billing and Payment Companies Why patient billing and payment matters What leading solutions offer AVIA Marketplace’s top patient billing and payment companies

Conversational AI is an advanced technology that allows machines to understand, process, and respond to human language in a way that is both contextually relevant and interactive. Within the healthcare sector, this technology is increasingly deployed to automate routine tasks and deliver a more robust and personalized patient experience. Conversational AI leverages a combination of machine learning, natural language processing, and occasionally deep learning to interpret and respond to user inputs, with a conversational user interface that mimics human interaction. Digital health companies deploy conversational AI through chatbots, voice assistants, messaging apps, or any other type of platform where natural language interactions occur.

What is the digital front door? Digital front door describes a set of interactive and transaction-ready capabilities to enable digital interactions between patients and health systems throughout the care journey, from pre-service to follow-up and payment. When leveraged appropriately, a digital front door strategy can improve patient experiences, drive access, and reduce (or eliminate) reliance on paper-based workflows and manual processes.

AVIA Marketplace's 2024 Top Digital Front Door Companies, including: Why the digital front door matters What leading solutions offer AVIA Marketplace’s top digital front door companies

Patients demand convenient healthcare access akin to online services. A robust digital front door, integrating online scheduling, telehealth, patient portals, symptom checkers, and payment management, is crucial. It offers a competitive edge by enhancing accessibility, patient loyalty, brand perception, market reach, revenue, and leveraging data for insights, ensuring health systems meet modern expectations and stay competitive. Modern patients rightly demand that healthcare access be as straightforward as ordering a meal online or hailing a ride, which is still far from the norm.

According to a report from Accenture, patients are increasingly switching providers, and at least a portion say it’s because of the digital experience. In fact, the report goes on to show that digital engagement is a strong predictor of loyalty. Increasingly, patients say they are less likely to stay with a provider who doesn’t provide a good digital experience, and a bad digital experience effects how they feel about their entire healthcare interaction. In other words, great care or bedside manner doesn’t mean a patient will stay if the rest of their experience doesn’t meet their needs.