Statistics show that missed appointments in a 10-provider practice add up to over $850,000 in lost revenue annually. That comprises a $150 billion loss in healthcare revenue each year. Patient outcomes and retention have a direct correlation to no shows. For example, patients who no show have an attrition rate of 70% compared with 19% for patients who attended appointments.
Telehealth is mainstream now and providing significant benefits in reducing no show rates, enhancing patient satisfaction, and staying competitive in a world of consumerism. Prior to the pandemic, there were significant challenges around reimbursement. Payer adoption of telehealth creates a whole new world of possibilities for healthcare organizations to increase productivity while offering providers remote work opportunities.
Patients have become accustomed to the convenience of having primary and specialist care visits in the comfort of their own home. Health plans are increasing their acceptance of and reimbursement for telehealth visits. Telehealth platforms and solutions are continuously improving and becoming a seamless, high-quality digital experience.
With Telehealth as the means to providing significant quantities of care, the patient experience and journey is more important than ever. Administrative burdens and turnover are at all time highs, so it is important to reduce or eliminate manual effort associated with telemedicine appointments and any technical support needs.
Mend is the Leading Telemedicine & Patient Engagement Platform. Cut down no-show rates and see more patients.