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.
By helping patients understand the cost of their care, what to expect, and how the practice can assist them, physicians can improve patient satisfaction and loyalty. With the support of a dedicated and technology-enabled RCM team, physicians can give their patients the cost transparency they desire and a more wholly satisfying care experience. Check out this article from Joe Polaris, senior vice president of product and technology at R1 RCM that explores the concept of the patient financial experience and how physicians can help patients understand/answer basic questions about the cost of care being offered: https://www.medicaleconomics.com/business/financial-transparency-key-patient-satisfaction.