Do your patients understand common healthcare payment terms?
Consumer confusion is rampant throughout the healthcare billing and payments process. Consumers often don’t understand what they will owe for a medical visit or how they should pay for it. This confusion stems from a lack of understanding of health plan benefits and coverage. A survey conducted by policygenius found that fewer than one-third of consumers can correctly define all three basic health insurance terms: copay, deductible and premium.
Providers usually suffer the consequences of confused consumers, which can include late or uncollected payments. Instead of waiting to write off bad debt, we’ve put together a simple guide for providers to use to proactively educate patients about their financial responsibility.
Download the guide and share it during patient conversations at your organization:
- Print this guide and give it to patients when they come to your office
- Hang it up on the walls of your waiting room
- Post it on your website so patients can easily access the information
- Keep it as a handy resource for your front office staff