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
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.