At this year’s HFMA ANI conference in Orlando, the patient financial experience was the clear focus and rightly so, as the patient is the fastest growing payer. Patientco exhibited again this year driving the conversation by releasing a new whitepaper, Accelerating Patient Revenue Capture with Probabilistic Modeling and announcing Enhanced Epic Integration for Patient Payments. Our new Chief Strategy Officer, Alan Nalle, gave an interview to Health Exec magazine on how predictive modeling can improve patient billing.
For healthcare finance leaders who were unable to attend the show, here are 3 patient-focused trends we noticed in both the educational sessions and the exhibit hall:
Improving the Patient Financial Experience
Patient experience is now a central focus for provider CEOs and that focus extends to the patient’s financial journey. The shift in the payer mix has required providers to update each step of the patient revenue cycle process from scheduling to depositing and posting the final payment. Emphasis was on educating the patient up front about potential costs that would not be covered by a payer such as copays and deductibles as well as requesting an initial payment upfront for certain circumstances and the tools to facilitate these payments.