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January 14, 2014 (Cleveland)

Santalucia and (Kresnye) Fay Publish Article on Advantages of Service Recovery

Advantages of Service RecoveryThe Nov. 2013 issue of the Healthcare Financial Management Association’s Revenue Cycle Strategist featured an article authored by two members of CHAMPS Patient Experience/Santalucia Group team: Carol Santalucia, vice president of patient experience, and Sarah (Kresnye) Fay, director of operations. The article, entitled “The Financial Case for a Strong Service Recovery Program,” enumerates the advantages of service recovery for hospitals and health systems from a financial perspective.

“If a dissatisfied customer leaves an organization, all potential revenue over the course of that patient’s life is lost. If the customer shares the negative experience with others, the loss is multiplied,” the article explains. “When a breakdown in service goes unaddressed, customer dissatisfaction escalates, costing an organization up to $1 million for each dissatisfied patient.”

According to the article, while there are many advantages to hospital service recovery programs, avoiding these types of costs and increasing loyalty are among the most important from a revenue standpoint. The piece describes a few basic steps healthcare providers can take to ensure they are building a strong service recovery program and preventing losses due to dissatisfied patients.

With more than 40,000 members, HFMA is the nation’s leading membership organization for healthcare financial management executives and leaders. The organization specializes in a number of areas that are of interest to healthcare executives including the revenue cycle. The Revenue Cycle Strategist newsletter is published 10 times each year and includes articles that provide finance leaders across the country with needed advice on denials management, collections, coding and other revenue cycle issues.

To learn more about the recent publication or the advantages of service recovery in the healthcare setting and how it can impact the bottom line, contact Sarah Fay at 216.255.3638 or via email.