Healthcare Dollars & Sense® Flashcards
What are the three HMFA revenue cycle initiatives named under “Healthcare Dollars & Sense”?
Patient Financial Communications, Price Transparency, Medical Account Resolution.
What best practices did the Medical Debt Task Force develop for account resolution?
Educate patients, have clear and concise communication, consistent policy enforcement, coordination with business affiliates, good judgement in communication, timely reporting to credit bureaus, and tracking customer complaints.
What are the components of patient financial communication?
Compassion, Communication, Written Follow-Up, Compliance Framework, HMFA’s Adopter Program.
What is the purpose of price transparency in healthcare according to HMFA?
To provide clear, easy-to-understand information about financial obligations for healthcare services, enabling consumers to make informed decisions.
What documents were developed to improve price transparency in healthcare?
“Price Transparency in Healthcare” and “Understanding Healthcare Prices: A Consumer Guide.”
What is the goal of the HMFA Medical Debt Task Force’s best practice workflow?
To improve the efficiency of the revenue cycle and enhance the patient experience.
What should happen when the first statement is sent to the patient regarding account resolution?
The account resolution clock should start.
