The Official Blog for TeleVox Solutions

The Official Blog for TeleVox Solutions

West Corporation

Posted on January 27, 2015 by West Corporation 


Patient Payment Insights from the 2014 Billing Household Survey

fiserv billing household survey

Wondering what strategies you should develop to increase payments from patients in 2015? Looking for a way to preserve the patient experience and maintain high satisfaction ratings while making sure you’re paid what you’re owed?

The recently published edition of Fiserv’s annual Billing Household Survey offers numerous clues to help you keep days in A/R and other key metrics at an optimum level.

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Here are some of the most interesting facts the survey has uncovered:

  • The average U.S household uses three different bill payment methods each month. 73% of households use multiple bill payment methods, with 17% of households using five or more.
  • Keeping track of due dates is cited as the #1 bill pay concern, with 35% of respondents admitting that it is a challenge. Knowing when to pay and how much (a common challenge for healthcare practices) was reported by 21% of survey respondents.
  • 77% of customers say that a bill pay due reminder would enhance customer satisfaction. Only 2% said it could actually decrease customer satisfaction. Reminders can also play an important role in the adoption of eBills.
  • 43% of customers say that being able to choose from multiple bill payment options increases their satisfaction.
  • 55% of Millennials would prefer not to receive a paper statement or bill. These figures are also high among GenX (36%) and Boomers (30%).
  • About 40% of tablet owners have visited a biller’s site, mostly to pay a bill (51%) or access a bill or billing history (42%).

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