patient-centric aid in a consumer-driven marketplace

[...]just as other consumer-centric markets have evolved to deliver fiscally responsive personalized financial experiences, healthcare providers find themselves in similar circumstances. [...]it aligns more exactly with patient economic diversity, including with the economic circumstances of those w...

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Bibliographic Details
Published inHealthcare Financial Management Vol. 72; no. 12; pp. 40 - 45
Main Authors Zadoorian, James, Bernardin, Thomas, Hodgson, Ashley
Format Trade Publication Article
LanguageEnglish
Published Westchester Healthcare Financial Management Association 01.12.2018
Subjects
Compliance
Design
Discounts
Health care expenditures
Indigent care
Patients
Principles
Revenue
Uninsured people
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Summary:[...]just as other consumer-centric markets have evolved to deliver fiscally responsive personalized financial experiences, healthcare providers find themselves in similar circumstances. [...]it aligns more exactly with patient economic diversity, including with the economic circumstances of those who have the least capacity to pay in full. [...]it delivers fiscally responsive personalized financial experiences that boost satisfaction while preserving as much provider revenue as possible. Building on research that ed to the development of AFA, future efforts should be focused on designing individually customized comprehensive financial plans for patients at preregistration, developing advanced and tailored financing products with personalized payment installment options, creating more frictionless payment configurations such as digital wallets, using crypto-currency, and advancing all categories of consumer-directed medical expense financial wellness strategies. [...]these innovations have been achieved, the principles and methods described here offer only a preliminaiy glimpse into the advantages of more intelligently designed, patient-centric financial assistance approaches for today's consumer-driven marketplace.
ISSN:0735-0732