Physicians Practice June 14, 2022
Independent physician practices are experiencing the realities of a revenue cycle dependent on the “patient as a payer” paradigm. As the prevalence of high deductible health plans has increased, patients are responsible for a greater portion of their medical bills. The manner in which practices have approached their billing processes with insurance companies must evolve to include providing a payment picture to the patient, and much earlier. With a new “audience,” strategic objectives will change, and information-sharing must improve. Further, the consumer’s involvement in terms of financial responsibility alters the provider-patient dynamic, which cannot be ignored. Patients no longer enter a waiting room hoping to feel better, they arrive worrying how significantly the visit will impact their wallet.
Rightfully so....
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