Eligibility Evaluations and the Importance of Early Communication
We’ve often stressed the importance of communicating effectively with your patients after they’ve received their care, but we haven’t talked a lot about the significance of communicating with them at the beginning of the relationship, prior to treatment.
The truth is, especially now with so much of the financial responsibility falling on your patients, this early communication is vitally important to a successful patient-provider relationship.
According to a recent study by healthcare clearinghouse, InstaMed, the healthcare payments industry has risen to be a $2.7 billion industry, due in part to rising patient payment responsibility, which has increased by 72% since 2011.
Even in the face of stats like these, the healthcare industry has not been effective in setting payment expectations with patients.
That has got to change, and it should begin with providers conducting internal patient eligibility evaluations prior to the initial visit. This important step, ideally facilitated with technology designed for this purpose, validates benefits and patient responsibility and helps the caregiver provide the patient with an estimate for his or her responsibility prior to treatment.
At first glance, some may wonder how this initial, financially focused session fits into the idea of compassionate patient care. Yet in our experience, most patients have welcomed the opportunity to enter into their care knowing what their charges will be.
Many of them are understandably nervous about what their procedure or treatment might cost and how they’re going to pay for it if it’s expensive. Receiving an estimate upfront removes that uncertainty and helps patients to plan for the expense.
Eligibility evaluations should be a significant part of any provider’s self pay collections strategy and MediRevv is working with some of the country’s leading providers to help them devise a solid approach. Let us know if we can help you.