Revenue Cycle’s New Priority: Helping Consumers Understand Their Coverage

During COVID-19, efforts by healthcare revenue cycle teams to help individuals navigate their coverage and their out-of-pocket costs will be key to consumer engagement. The pandemic packed a level of financial uncertainty that had not been seen in decades.

Without a clear understanding of their financial responsibility for care after insurance, consumers may postpone care based on the estimate alone. That’s a move that could prolong their worries about their health. It could also make existing health issues more serious and more expensive to treat.

In 2021, it’s important that providers make it easy for consumers to find their charge list. Provide the charges in a consumer-friendly format, and make it clear that charges are different from out-of-pocket costs after insurance. Just as important: Give individuals a point of contact for patient financial discussions.