Integrated delivery networks (IDNs) can provide efficient, quality healthcare in communities across the United States. But many IDNs rely on fragmented systems that, without the proper tools and strategy to streamline resources, hinder financial goals and clinical outcomes.
The result can be a patient experience that’s disjointed and inconsistent, and a staff experience heavy on paperwork, bureaucratic in design and confusing to navigate.
Leaders at IDNs can reduce the friction within their systems using a handful of tactics.
Seamless digital payments—through a platform like J.P. Morgan’s InstaMed—can capture member and patient payments, as well as help make EOBs and bills easier to send, simpler to understand and faster to collect.
IDN members and patients benefit from a streamlined experience with flexible payment options, which in turn improves the IDN’s ability to collect revenue. To enhance member and patient touchpoints, IDNs can offer branded mobile apps, digital wallets, bill-pay tools and text or email reminders that work seamlessly with each other to put all options in one location.
When smaller practices and institutions merge with health systems, everyday functions often involve several different vendors—one for statements, one for payments, one for lockbox, etc. Navigating those vendors is a strain on time, resources and expenses. Integrating services under fewer vendors can streamline those different functions and make it easier for staff to complete work quickly and accurately.
In a hybrid environment, it’s critical to eliminate paper-based manual tasks so workflows can move forward regardless of where the staff is located. IDNs thrive when they:
As IDNs modernize and simplify their operations, they must be mindful of compliance, risk and controls.
A simplified payments program cuts down on the number of people, programs and vendors that interact with patient data, allowing systems to reduce Payment Card Industry Data Security Standards (PCI-DSS) scopes. By consolidating vendors, IDNs reduce the risks of supply chain disruptions and other security concerns.
"With all the data and cash flowing in the day-to-day operations of healthcare, it’s important the processes are as frictionless as possible while remaining secure. That’s essential to making sure the patients’ and providers’ experiences are positive, and it also makes organizations more resilient."
Our healthcare banking team takes a consultative approach with clients, helping them improve workflows to maximize their return on investment while improving the patient experience.
J.P. Morgan’s deep experience in healthcare can help IDNs minimize operating costs and make the most of their revenue. Reach out to learn how we can help make your health system more efficient and effective.
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