One thing all citizens of our divided country can agree on is the state of our healthcare system is broken. As a patient and a “consumer” of health care services, my out of pocket expense has increased consistently over the last decade at a pace far exceeding the cost of living index. I am making decisions on medical treatments available to me based on cost and cash flow for our family. How many others find themselves in this same situation?
Patients may think the physicians are benefiting from these increased costs. Guess what? They aren’t. As a result of me (and perhaps you) declining or delaying medical treatments, paychecks for the physicians are also declining. You don’t feel bad for them? Think of all the independent clinics around town, Orthopaedic specialists, dermatologists, eye doctors, etc. now imagine all their clinics being acquired by LARGE health systems under which they become salaried employees. Thank may mean they don’t have as strong of incentive to see as many patients. Their waiting lists grow, you and I as patients grow impatient. Frustration grows. Quality of care may start declining as follow-up visits are missed (or unable to be scheduled).
Medical providers typically do not receive business training in medical school or when starting their own clinics. They perform their medical services as experts in their field – that is what they are great at. They have a built in incentive to see and provide quality medical services to patients. However, operations is not their strong suit. The practice hires staff to ensure patient flow goes smoothly and cash is coming in to keep their doors open. However, in my personal scenario above, if patients are choosing to decline or delay treatment – how do providers stay solvent?
FinanSynergy gives the independent clinics an opportunity to focus on medicine while we provide oversight over their operating expenses and revenue coming in. What is in it for you, your family, or all the other patients? FinanSynergy keeping costs down and having a more efficient revenue cycle helps provide transparency for me/you and your bank account. Medical bills are scary. I get plenty with two active boys. If your physician’s office consistently started asking for $50 “down payment” if you have a high deductible for your health services this sets an expectation at the beginning, no surprises. You will receive a bill after you insurance has been filed for the remainder.
Setting the same expectations for all patients is a first step for transparency in an industry that has the worst transparency for any service. How much does procedure X cost – well reimbursement differs on the payers. Once the clinic initiates a procedure of handling all patients the say – having the same expectations, this will be a huge step forward in the appearance of transparency. Whether an individual has a $2 Medicaid co-pay or asking for $50 down on a high deductible plan, interaction needs to be consistent and fair. In the end – are any of us (patients or providers) winners? We value our health – but to what expense?
This is an important conversation for families, for physicians, for all people. Comment – share – discuss.