“Cost”- A Vital Component of A Patient’s Education During An Office Visit

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           “Cost”- A Vital Component of A Patient’s Education During An
                                   Office Visit
         Health care costs and patient deductibles seem to be only taking one path which is the uphill
         one and physicians are realizing that discussing costs and how to reduce them is a very
         important part of the conversation with patients during an office visit.

                                              Industry Standards State

                 Percentage of U.S. gross domestic product which comprises of health care - 17.6%
                 Expenditure on tests and procedures which do not benefit patients much- $750 bn. per
                  year



         Hence most medical societies and other physician organizations are encouraging cost
         discussions to help reduce healthcare costs.

         Industry experts speak-

                 Most industry experts believe that patient education related to cost can help lower
                  costs for patients without hindering quality of care
                 Various studies depict that most patients and their doctors prefer to discuss the costs
                  involved prior to commencing the treatment
                 Many patient believe more expenses spent on health care equals to better treatment,
                  however this is not always right
                 AMA delegates have approved a report saying patients must be involved in the decision
                  making process for choosing treatments which are less expensive but are equally
                  beneficial
                 Most patients want physicians to help them make the best decision financially and
                  medically

         Initiatives such as “Choosing Wisely” and “Costs of Care” aim to talk about un-necessary
         procedures and treatments, and also helps reduce medical bills by declining or replacing
         ineffective and costly procedures.

         While conversing costs with patients...

                 If the physician is recommending the patient to a specialist they need to first ensure the
                  patient of the ability of the other physician
                 Inform the patient of all the tests and procedures in simple and non technical language,
                  also provide the reason for the tests, etc
                 Depict necessary knowledge to the patient to let them know you are updated with new
                  technologies, and treatments


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                 Ensure the patient understands you are genuinely concerned about their condition by
                  informing them of procedures which are beneficial for them and those which are not
                  recommended
                 Create a professional dialogue by speaking in a “matter of fact” manner so that the
                  patient is aware that speaking about insurance and costs is related to their medical
                  treatment, and not a personal matter
                 Finally to eliminate chance of awkwardness and rather than asking the patient his
                  capability to pay; ask them about the extent of their insurance coverage

         Increase in patient satisfaction -

         Various studies depict ways of tackling the subject of cost with patients, and explaining to them
         expensive doesn’t always mean better. Tests are never 100% accurate and in few conditions it
         may be wiser to save on costs with a test which is 98% accurate rather than one which is 99%
         accurate. Cost discussions can help the practice lower patient costs and also make the best
         medical and financial decision.

         A recent survey depicted that 32% had delayed medical care for them or a family member
         because of cost in 2012; compared to 19% in 2001. Helping patients reduce costs will help the
         practice not only retain current patients but also attract new patients. Moreover patients, who
         get excellent treatment, receive the best medical knowledge and experience - are well prepared
         for the treatment financially and psychologically - hence are satisfied and most likely to
         return.

         Medicalbillersandcoders.com has been successfully providing medical billing services for over a
         decade now across all 50 US States. Our billing and coding experts with in-depth industry
         knowledge can assist practices to help determine areas which require training to improve
         patient care and communication.

         Our team offers guidance along with providing relevant updates about new regulations and
         reforms- hence helping doctors inform patients about latest industry facts related to their
         medical billing and insurance. Furthermore our clients can easily concentrate on improving their
         practice management and communications as they rely on MBC for optimized billing services.

         Research depicts that good communication between the physicians and patients = improved
         patient outcomes= patient satisfaction = Increased office efficiency = Revenue & physician
         satisfaction!




                                       www.medicalbillersandcoders.com
                                       Copyright ©-2013 MBC. All Rights Reserved.
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Description: Health care costs and patient deductibles seem to be only taking one path which is the uphill one and physicians are realizing that discussing costs and how to reduce them is a very important part of the conversation with patients during an office visit.