The Cost of
No-shows

Are You Leaving Money on the Table? The Cost of Noshows and Cancellations

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These efforts could rather be spent on higher priority tasks like patient care, which takes a backseat amidst the growing concerns on the financial losses owing to no-shows and cancellations

Hospital no-shows are costing a fortune to the healthcare ecosystem. Consider that Noshows and missed appointments alone cost the U.S Healthcare system a staggering $150b every year. Massive amounts of time, resources and efforts of the hospital admin staff are spent on mitigating the effects of hospital no-shows. These efforts could rather be spent on higher priority tasks like patient care, which takes a backseat amidst the growing concerns on the financial losses owing to no-shows and cancellations. However, the COVID-19 scenario brought drastic changes to the ever-growing concerns of noshows and missed appointments – as most of the Doctor’s visit was moved to the virtual platforms like telemedicine solutions and remote patient monitoring platforms.

Hospital No-shows alone cost the U.S healthcare system a whopping $150b every year. Research reveals that among 624 care providers, 45% of them were reported to face increased no-shows in a telehealth set-up than the in-person no-show rates

Virtual healthcare platforms were expected to reduce no-shows as it is easier to now meet their Doctors’ virtually at the comfort and safety of their homes. However, the reality and statistics prove otherwise.

Research reveals that among 624 care providers, 45% of them were reported to face increased no-shows in a telehealth set-up than the in-person no-show rates.

Telehealth platforms have revolutionized the way care is delivered to patients in the most timely and frictionless manner possible. Remote Patient Monitoring tools are broadening their horizons with integrated solutions and intuitive insights gathered through various sources like Patient Reported Outcomes (PRO), Patient Generated Health Data (PGHD), Electronic Health Data (EHD), wearables and IoT-enabled devices.

From appointment reminders, patient self-scheduling, smart waitlists, patient referrals, auto-refill appointments, mobile patient intake and secure chat to patient recall, careteam workflows, value-based care, health screenings, pre- & post-care messaging, multilingual messaging, population health, patient screening surveys, patient notifications and reporting – patient engagement solutions and care coordination platforms are addressing the next-gen healthcare consumer needs, while eliminating friction and enhancing patient experiences at scale. However, telehealth no-shows are still a major concern contributing to huge revenue losses and impacting patient health outcomes and hospital readmissions.

Appointment Wait times and Patient Dissatisfaction

Patients as consumers are attuned to hyper-personalized and high-speed digital experiences across various sectors including retail, banking and they expect the same from their healthcare providers as well. From Gen X to baby boomers and millennials, healthcare consumers expect simple and easily navigable solutions to resolve their healthcare concerns. And patient wait times are one of the most frustrating experiences that result in high patient dissatisfaction. Patients can be offered simple self-serve patient scheduling options where they can simply book appointments, re-schedule appointments as per their convenience at the touch of a button. This increases the chances of them showing up for their doctors’ appointments whether it is an in-person visit or a telehealth appointment. What’s more, our patient outreach program is proven to reduce no-shows by at least 30%

SolvEdge’s patient outreach program is backed by intensive research involving technologists, SMEs, doctors, PhDs and other experts who have worked together to bring a holistic solution that is proven to drastically reduce no-shows, drive up patient footfalls, increase patient volume and retention, increase referral rates, and significantly improve health outcomes. Trusted by Fortune 500 brands, 450+ hospitals in the U.S, 3850+ Physicians, and millions of patients around the globe, our patient management platform is truly designed to give you the competitive edge by elevating patient experiences.

To learn more about how our holistic patient outreach program can help drive value for your healthcare organization,
Give us a shout!

SolvEdge Simplifying Healthcare Experiences

From our humble beginnings as a healthcare start-up—to becoming a full-blown healthcare-exclusive digital transformation provider, our journey has been quite a remarkable one. Today, SolvEdge is a leading-edge Healthcare services and solutions provider—trusted by 450+ Hospitals, 3500+ Physicians and millions of patients across the globe.

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