Physicians Practice September 15, 2023
How physicians can strengthen the patient financial experience.
Physicians must offer more than just clinical excellence to satisfy today’s patients. With high-deductible health plans (HDHPs) and rising out-of-pocket costs, clinicians also must be prepared to provide a positive financial experience for patients.
For most physicians, the phrase “financial experience” conjures thoughts of the billing office, where teams of revenue cycle experts work to secure reimbursement long after the clinical service has been rendered. In this traditional scenario, clinicians care for patients while the billing department manages the revenue cycle. Physicians have little control over whether their patients’ financial experience is positive or negative.
Yet as patients start to shoulder more of their healthcare costs, patients are becoming healthcare “consumers,” and...
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