Impacting Patient Financial Responsibility

By June 30, 2016Blog

Lynn Carroll, Chief Product Officer, Payspan

Last month, I outlined ways to facilitate patient financial responsibility for Healthcare Innovation News. You can read it in here.

This will be the first in a four-part series of posts expanding on the initial ideas in my article. There is so much more to be discussed when it comes to modernizing our healthcare systems. I welcome your comments and invite you to connect as we work together to provide better patient care, reimbursement value and profitability through financial transparency between all stakeholders.

Having been with Payspan for more than 10 years, serving in multiple roles, including operational and technical positions, and now leading the product teams, I’ve seen a paradigm shift with the healthcare economy moving from sick care to health care. Despite acknowledgements that the system structure needs changing, it still remains a slow process moving from a diagnosis and treatment system to a wellness and prevention system. At the same time, outside political impacts have resulted in a need for consumers to take greater responsibility in the medical and financial management of our own care delivery.

Healthcare providers have always thought first and foremost about how to best meet patient needs. Billing and payment, on the other hand, have been considered business processes separate from the relationship between provider and patient. In today’s healthcare environment, this separation of billing from the patient-provider relationship no longer works. Patients are being asked to pay an ever-increasing share of their healthcare costs, often without understanding or anticipating these costs.

Americans have reached a turning point in the healthcare system and its economy. With no time to waste, everyone involved in the healthcare economy now has the opportunity to contribute to the redesign of the healthcare delivery model.

What have you seen contributing to this shift we are all experiencing?