About half of healthcare CFOs and revenue cycle VPs reported 2022 revenue projections falling short in reality, according to a recent study covered by RevCycle Intelligence. Forty-six percent of survey respondents said their organization is behind on their 2022 revenue goals, while just eight percent are slated to exceed their original projections. And although patient volumes have increased since 2021, labor shortages and economic hardships are impacting financial performance—putting today’s healthcare executives in uneasy territory.
The quest for tech that performs
In today’s climate especially, executives can’t risk entertaining solutions that don’t deliver on revenue and return on investment. With purse strings tightening at the same time direct-to-consumer options close in, we understand the need to assess technology for its ability to ensure patient attraction and retention, while also combating labor shortages and capacity constraints.
With Bright.md, our health system partners recognize revenue—downstream and net new—in two primary ways: new patient acquisition through Bright.md, as well as escalations to other care settings. In fact, in evaluating ROI with our health system partners, we’ve found:
81% of patients escalated to a synchronous encounter through Bright.md follow through with their visit
13% of patients who complete an asynchronous visit are done by net new patients to the health system
Why Bright.md is a good business move
When done right, asynchronous telehealth ultimately drives patient volumes, retention, and savings. By identifying the appropriate next step through our digital front door solution Navigate, Bright.md ensures patients get to the right venue of care the first time around, while also enabling downstream revenue as a result of escalations to video or in-person visits.
We also help systems stay competitive against other direct-to-consumer offerings by giving patients a quick, easy alternative to care through your health system. Bright.md makes it easy for low-acuity patients to find, access, and receive virtual care, making it an attractive option for today’s tech-savvy, digital-first care consumer.
Lastly, our asynchronous telehealth solution increases the capacity of clinical care teams without taking resources away from primary or urgent care. By offering clinicians trusted evidence-based content that integrates with your EHR, Bright.md enables cost savings all around—from freeing up provider time on documentation to reducing the number of expensive, unnecessary urgent care or ED encounters. Our solution provides value to organizations by increasing access to quality care, while helping you meet increased demand by expanding current clinical capacity without hiring more staff.
Ready to see what asynchronous telehealth can do in your organization?