HFMA has issued new PATIENT FRIENDLY BILLING® guidelines to assist hospitals in their financial communications with patients. The recommended practices stress that, except in emergency situations, patients want to know what they will be expected to pay for healthcare services before they incur the costs, especially as patients become responsible for a larger portion of their hospital bills. Early, transparent financial communication allows patients the opportunity to comparison shop for services, learn about payment alternatives (including financial assistance), and explore other alternatives with their own physicians.
When hospital and patient engage in transparent financial communications, “the billing and collection process becomes a verification of what the patient already expects,” say the guidelines. “Each patient’s personal payments will be related to what they can afford to pay, and providers are more likely to receive sufficient payment from all appropriate payment sources so that they can continue to provide quality healthcare services.”
