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5 things ASCs should know about price transparency

Like other healthcare consumers, ASC patients are demanding price transparency, according to Professional Medical Services.

Five insights on price transparency from Professional Medical Services' new white paper:

1. Being upfront about prices will establish goodwill with patients and ensure reimbursement.

2. ASCs can help patients manage payment expectations by equipping staff to discuss price estimates and answer patients' questions.

3. Educating patients early on about their financial obligations prevents surprises, delays and cancellations on the day of the procedure, according to Jho Outlaw, senior vice president of SourceMed.

4. It's easier to collect upfront payment when patients know how much they will owe.

5. Cash-pay offerings benefit both ASCs and patients because they leave out third-party payers, making it easier to predict costs.

More articles on coding, billing and collections:
Key ways ASCs can identify bundled payment partners
3 steps to ensure successful billing at a new ASC
3 steps to negotiating an insurance contract for an ASC

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