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CareCloud Predicts 2018 Will Be the “Year of the Patient”

Insights from health tech leader show increased use of mobile technology among medical practices to improve patient health outcomes, the patient experience, and practice performance for the year ahead

MIAMI — December 20, 2017 — CareCloud, the platform for high-growth medical practices, is revealing its top predictions for 2018, including modern mobile technology redefining how medical groups deliver patient experience alongside patient care. Medical practices have reached a tipping point as the industry accelerates its shift to value-based care and adapts to patient demands for a better consumer experience at the doctor’s office. CareCloud researchers tracking the intersection of technology with patient expectations believe that a rising tide of patient consumerism, combined with regulatory and financial trends, will make 2018 the year medical practices invest in modern mobile technology and hardware that strengthen practice-patient interactions.

“With patient out-of-pocket costs now accounting for 20-30 percent of a practice’s revenue, a better patient experience is good medicine for the bottom line,” said Ken Comée, CEO of CareCloud. “Consumers are bringing their expectations for personalized on-demand service — and convenience in how they pay for and interact with that service — into the doctor’s office. From wait-times to overdue bills, consumers want to know exactly where they stand with their medical providers, in real-time, via their mobile devices. We expect 2018 will be a watershed year for mobile technology that extends and improves the practice-patient experience outside the office walls.”

CareCloud is sharing its top five predictions for the upcoming “Year of the Patient”:

1. PXM as a New Category: A new segment in health technology is emerging: patient experience management (PXM) is poised to join electronic health records (EHR), revenue cycle management (RCM) and practice management (PM) as a peer category and a must-have for any medical group in 2018. PXM systems cover a wide range of patient interactions with their health, including digital check-in, reminders, and personalized education — in the practice, at home or on the go. With patient-friendly mobile interfaces, PXM uses data from the practice’s back-end technology suite in real-time to serve an exceptional patient workflow. All of which are key requirements given the growing importance of the patient payment process and rising patient expectations.

2. Paying Attention to Attention: 2017 study of over 1,100 patients by CareCloud showed that patients value personal attention from their physician, even more than their actual medical outcomes. A full seven out ten patients say that personal attention matters highly, jumping to 83 percent for patients over 60 years old. Compare that to 58 percent of patients saying health outcomes are key to their overall satisfaction. Medical practices will be expanding their focus on the patient experience in 2018, using techniques from the likes of Disney and Ritz-Carlton to train staff and create cultures of incredible service. Technology that reduces physician burnout and helps expand attention to patients will also be hot in the year ahead. Look for EHRs focused on fewer clicks to give clinicians more time for patient care.

3.  Perfecting the Payment Process: U.S. patients are already paying for 25 percent of their medical costs out-of-pocket. Experts predict premiums will increase by 40 percent in 2018. At the same time, a recent CareCloud study shows one in three patients has never been asked to pay their medical bills during a visit. In the year ahead, medical practices will integrate better payment options and more price transparency into their patient experience — streamlining the process for practices while meeting the evolving needs of their patient populations. Look for mainstream financial giants such as First Data acting on new opportunities for fintech growth in the medical sector.

4. The Millennial Movement: Millennials are now the largest generational cohort in the U.S., outpacing Baby Boomers by half a million people. Their expectations and decisions are shaping the future of medicine. Early indications show they’re more discerning “buyers.” In fact, a recent CareCloud survey found that more than half of millennials would switch doctors if that led to reduced wait times. Millennials are also twice as likely as other age groups to switch doctors in order to use a computer/tablet to check in. For these reasons, medical groups will start transforming their practice to attract and retain this younger cohort of patients. Startups such as Forward are aiming at the millennial healthcare market and big tech players such as Amazon and Apple are expanding their interest — seeing potential in this large and growing segment of patients.

5.  Analyze This: Despite an uncertain healthcare climate in 2017, government regulations continued to evolve in support of value-based reimbursement models. The Merit-based Incentive Payment System (MIPS) and incentive payments for Alternative Payment Models (APMs) both advanced the focus on patient engagement, care coordination, and more collaborative care. Now that systems have been made electronic through the shift from paper to EHR, practices will lean more on their digitized records next year to run population health analytics like those from Lightbeam in an effort to provide a more patient-centric approach to care. Practices that integrate analytics into their workflows will find data to be a distinct strategic asset in highly competitive markets.

About CareCloud

CareCloud is the leading provider of cloud-based revenue cycle management (RCM), practice management (PM), electronic health record (EHR), and patient experience management (PXM) solutions for high-performance medical groups. CareCloud helps clients increase financial and operational performance, streamline clinical workflows, and improve patient care nationwide. The company currently manages more than $4 billion in annualized accounts receivable on its integrated clinical and financial platform. For additional information about CareCloud’s medical practice market research or patient experience management technologies, please visit carecloud.com.

December 20, 2017 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Medfusion Announces New CEO

Kimberly Labow Appointed to Lead Company with Focus on Continuing to Drive Innovation and Momentum of Patient Experience Management Solutions

Cary, N.C. – February 16, 2016 Medfusion, a leading provider of patient experience management (PXM) solutions, today announced that Kimberly Labow has been named Chief Executive Officer. Labow is tasked with continuing to cultivate the company’s current market momentum, and deliver on Medfusion’s mission to deliver technology that enables providers to succeed in both fee-for-service and value-based environments, by putting patients in control of their health and care.

An accomplished leader with over twenty years of information technology and services experience, Labow excels in the areas of business strategy, marketing and sales. Her history with Medfusion goes back to its early days, when she worked closely with founder, Steve Malik, serving as the company’s Vice President of Marketing, Product Management and Inside Sales.  Following senior executive positions at leading healthcare technology companies, including NaviNet and ZirMed, Labow rejoined the Medfusion team in 2015 as Vice President of Product Management and Vice President of Marketing.  She now assumes the role of CEO, replacing Vern Davenport, who has recently announced his departure from the company.

“We were thrilled to have Kim rejoin the Medfusion team last year, and I am even more delighted to now welcome her into the role of CEO where she will have the opportunity to help build the future of the company,” said Steve Malik, Medfusion Executive Chairman. “We are at a pivotal moment in our history as we enhance our focus on further defining and delivering on our vision for comprehensive patient experience management solutions that make healthcare work better for doctors and patients by giving patients consumer-friendly control of their health and care.”

Medfusion seeks to elevate the patient experience to the standards of modern consumerism, resulting in benefits for both providers and patients. The company’s solutions streamline and simplify a number of overly complicated interactions and transactions, including patient-provider communications, patient payments, and cross-platform health records. By giving patients a modern, positive healthcare experience, Medfusion enables lower costs and higher, more-predictable revenue for providers, especially as they adapt to value-based reimbursement models.

“I am extremely excited to be assuming this leadership role,” said Kimberly Labow, Medfusion CEO. “Returning to Medfusion has been a real homecoming for me, and my familiarity with the company, its culture, solutions and clients – combined with my experiences in the larger health IT environment – gives me a unique perspective on the needs of the market and how to best serve them.”

About Medfusion

Medfusion delivers transformative technology and services that put patients in control of their health & care, enabling providers to succeed in a value-based healthcare delivery model. Medfusion’s comprehensive Patient Experience Management platform includes Medfusion Patient Portal – an industry-leading EMR-agnostic patient engagement platform, Medfusion Pay – a patient payment solution with multiple ways for patients to conveniently pay from any device, at any time, and Medfusion Plus – a mobile, patient-driven application that aggregates a patient’s health records on their mobile device. These solutions facilitate streamlined bi-directional communication, enhance patient engagement and improve a practice’s financial operations. For more information, please visit www.medfusion.com.

February 16, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.