Cost estimation tools generate clear cost estimates so the patient knows exactly what is owed at, or before, the time of service. But we know that patients who know their costs upfront are more likely to pay, so providing accurate upfront estimates is a best practice. REALITY: Unfortunately, patients are often left in the dark when it comes to what they owe. Thankfully, tech-driven features like Express Check-in can replace paperwork and improve the patient experience.ĮXPECTATION: Patients comprehend their financial responsibility These occurrences may be all-to-common, but today’s patients are pressed for time and have high expectations. Before you know it, what should have been a quick checkup turns into a three-hour affair. Then the doctor is behind schedule, and so on and so on. appointment, only to sit in the waiting room for an hour. So how can your practice improve healthcare literacy? Educate your patients on their coverage and what it means, whether that’s through online resources, in-office signage, or a one-on-one conversation at the time of service.ĮXPECTATION: Patients expect long appointments and a time-consuming office experience And the age group that holds the title for lowest comprehension? The honor goes to Millennials. In fact, a survey of 2,000 Americans with health insurance from Policygenius determined that a whopping 96% did not understand basic health insurance terms. Throw in acronyms like EOB and AR and it becomes even more complex for patients! The truth is that insurance-related terminology is foreign to many people. REALITY: While terms like deductible, co-pay and co-insurance and may be commonplace in a medical office, the truth is that many patients are unfamiliar with the meanings. Let’s dive into a few common assumptions and misconceptions and separate fact versus fiction.ĮXPECTATION: Patients have a solid understanding of their medical coverage Those within the industry have an innate understanding of what makes a practice tick, but sometimes those on the outside (yep, we’re talking about your patients) perform differently than expected when it comes to the in-office experience, payment preferences and their healthcare demands. As a physician, billing specialist or operational associate working within a medical practice, it can be easy to make assumptions.
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