Enhancing Patient Experiences: The Need for Faster Refunds
Onbe’s Latest Survey Highlights Patient Refund Experiences
In a recent survey by Onbe, a leading disbursement platform, important revelations come to light about the patient refund process. The findings from this Winter 2025 survey emphasize how timely and digital patient refunds can significantly elevate patient satisfaction and retention rates. Notably, over half of the surveyed patients reported encountering delayed, lost, or incorrect payments from their healthcare providers, leading not only to frustration but also to a potential loss of trust in their providers.
The Impact of Delayed Refunds on Patient Trust
An alarming statistic from the survey indicates that 71% of participants would consider switching healthcare providers following a negative payment experience. This suggests that digital refunds are no longer just a convenience; they have become essential for healthcare providers aiming to enhance patient experiences. As patient expectations evolve, so too must the financial processes that serve them.
Survey Insights on Digital Payment Preferences
Despite 70% of those surveyed expressing a desire for an improved refund process through digital payments, a surprising 64% still report receiving funds via traditional paper checks. This not only complicates the refund experience but also raises concerns regarding security and efficiency. Paper checks have inherent risks and come with costs that can pile up, sometimes as high as $12 each. Therefore, integrating modern digital payment options could alleviate challenges faced by both providers and patients.
Benefits of Digital Refund Solutions
According to Sayid Shabeer, the Chief Product Officer at Onbe, providing digital payout solutions empowers patients by offering them convenience and choice when receiving refunds. The survey results advocate for a shift towards digital methods that are not only faster but also more secure, transforming what has traditionally been a burdensome process into a seamless experience that fosters trust and loyalty.
Key Findings From the Onbe Survey
The survey has unveiled several compelling findings regarding patient expectations:
- 72% of respondents believe that a faster refund experience would enhance their perception of their healthcare providers.
- Many patients received unexpected refund checks, illustrating a gap in communication regarding the reasons for payments.
- A concerning percentage of patients who faced issues with refunds included:
- 36% spent additional time troubleshooting with providers.
- 23% indicated a loss of trust in their providers.
- 22% reported facing financial strain due to delays in receiving their refunds.
Streamlining Payment Processes for Better Efficiency
As the healthcare sector grapples with labor shortages and rising operational costs, optimizing the payment process has proven critical. Transitioning to digital-led payout solutions ensures that providers can facilitate secure, compliant refunds that align with patient preferences for swift and error-free transactions. By leveraging technology, healthcare practices can streamline their administrative processes while enhancing the overall patient experience.
Explore Onbe’s Healthcare Solutions
To understand more about how Onbe is shaping the future of patient refunds, visit their website. They offer comprehensive healthcare payout solutions tailored for modern demands, focusing on efficiency and patient satisfaction.
About Onbe
With over 25 years in the industry, Onbe is a fintech leader providing innovative payment solutions that meet the needs of a diverse range of clients, from mid-tier businesses to Fortune 500 companies. Their expertise helps clients offload complex payment operations, reducing costs and risks associated with processing payments in-house. Committed to meeting today’s consumer expectations, Onbe offers instantaneous and seamless digital payment experiences.
Understanding the Survey Methodology
The Winter 2025 Healthcare Patient Refund Survey marks the tenth iteration of Onbe’s extensive monthly payment market analysis. Conducted in December 2024, the survey garnered insights from 509 participants, reflecting a wide range of demographics from across the nation. The purpose remains clear: to explore consumer preferences regarding patient refunds and to identify key challenges faced during the payment process.
Frequently Asked Questions
What is the main focus of Onbe's Winter 2025 Patient Refund Survey?
The survey examines patient experiences with refunds, emphasizing the importance of timely and digital payments in improving satisfaction.
How does digital payment impact patient trust?
Digital payments can enhance trust as patients feel more secure and are less likely to experience delays or errors with their refunds.
What percentage of patients prefer digital payments over checks?
According to the survey, 70% of respondents indicated a desire for modern digital payment solutions over traditional checks.
How does Onbe support healthcare providers?
Onbe offers specialized fintech solutions to streamline the refund process, reducing costs and enhancing patient experiences.
What are some consequences of delayed patient refunds?
Delays can lead to financial strain, loss of trust, and increased time spent addressing issues with providers, according to survey findings.
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