PatientBond reduced missed appointments 22% at a health system focused on Medicaid, Hispanic, rural and underserved populations.
Missed patient appointments represent a significant cost to medical practices. The average cost of revenue lost per year for a small practice is $18,000, while specialists average losses of $30,000 and hospitals lose millions of dollars per year in missed appointments. Aside from lost revenues, missed appointments also represent inefficient use of medical assets. Missed appointments disrupt staff work schedules and gaps in the schedule can throw work-flows off balance. The American Medical Association estimates that a missed appointment or two each day can add up to $20,000 - $180,000 lost in productivity annually, and is higher for multiple providers and specialties. PatientBond’s automated communications help solve this issue.