Following its 2013 national institute, the Healthcare Financial Management Association released its newly drafted list of best practices for transparent financial interactions with patients, open for public comment until July 31.
The draft best practices were written by a steering committee that included members from HFMA, the Patient Advocate Foundation, the American Hospital Association, Harvard Medical School, America's Health Insurance Plans and others, according to a news release. Health system representatives on the steering committee included Aaron Crane, CFO of Salem (Ore.) Health; Patricia Keel, CFO of Good Shepherd Medical Center in Marshall, Tex.; and Bert Zimmerli, CFO of Intermountain Healthcare based in Salt Lake City.
Guidance within the list is broken down by where and when the discussions should occur with patients: the emergency department, non-emergency settings, before receiving medical care and when resolving outstanding balances. Several items listed among the committee's recommended best practices for discussing finances with patients — after they have been screened and stabilized — include:
- Gathering basic insurance registration information, as well as determiing whether the patient may require financial assistance.
- Informing patients their ability to pay will not impact their emergency or nonelective care.
- Reviewing insurance benefit details to ensure accuracy of payment information.
- Offering financial counseling.
- Clarifying that patients must make payment arrangements and may need to pay outstanding bills from the hospital or have elective services deferred.
The list is intended to "provide guidance for when, how and by whom communication should take place about patient insurance coverage, financial counseling, patient financial responsibility for service, and any existing balance the patient may have," according to a news release. Early and open communication and discussing with patients a plan for "financial resolution" is a key feature to the best practices.
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