Posted by ClaraPrice on April 26, 2018
More hospitals and providers are looking at billing processes and how to improve the patient financial experience early on, when patients are shopping and requesting pricing. Some Revenue Cycle initiatives are working with patients to trod through the quagmire of in-patient bills and take out the surprise factor after discharge.
Easy-to-read billing and better financial counseling before a procedure will go a long way in bringing in more money, experts said.
Recent issues continue in 2018 for hospital administrators in these areas:
Hospitals and administrators should work within their frameworks to create, implement and execute a transparent cost analysis in their billing arrangements and present this information to patients in plain English.
Having a clear rationale for pricing and internal and external processes and tools for sharing and explaining the data will help providers present a compelling story to consumers fully empowered to choose care from multiple providers.
ClaraPrice provides individualized cost estimates for inpatient hospitalizations, empowering patients to prepare financially before, during, and after a medical event.