HealthFirst Financial Patient Survey: It’s Never Too Soon to Communicate Pricing and Payment Options
Findings Underscore Importance of Adopting a Comprehensive Best-Practice Approach to Financing Options
Individuals are the third-largest payer to healthcare organizations, behind only Medicare and Medicaid. However, despite higher deductibles and out-of-pocket expenses, patients often have little knowledge about medical costs or how to pay for it. The results have serious consequences for both patients struggling to cover unexpected medical costs and healthcare providers increasingly strapped because of unpaid patient bills.
The HealthFirst Financial Patient Survey finds that patients want to be more informed about costs and payment options and reveals the huge gap that exists in what patients want compared to what hospitals, medical groups and other healthcare providers are delivering. The survey of more than 1,000 individuals, commissioned by HealthFirst Financial and conducted by ORC International, offers healthcare providers insights on the patient perspective and the importance of adopting best-practice patient finance approaches to better manage the revenue cycle.
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