Consumers are confused by costs. Unlike other industries, healthcare services are often provided before consumers even know the price.
Note: This article originally appeared on TransUnion's website
Without this insight, misunderstandings regarding the nuances of co-pays, deductibles, coinsurance and maximum out-of-pocket costs can occur.
According to a recent TransUnion Healthcare patient survey, only 51% of respondents said they fully understood their financial responsibility for medical bills. As such, it’s no wonder more than half of patients report being surprised by a medical bill they expected to be covered by their health insurance.1
What can providers do to better educate patient populations on benefits and costs associated with care? Click here to continue>>
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