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Price transparency, affordability and patient liability: Forging the right connection

December 22, 2020
Business Affairs

The right connection between transparency and patient liability
Hospitals can embrace the broader movement towards price transparency to enhance patient engagement and affordability. One way to do so is to leverage predictive analytics in order to customize affordable and flexible payment options that match an individual’s capacity to pay.

Price transparency alone cannot help patients meet their financial obligations. But providing flexibility in how they pay - whether it be through payment plans, patient financing, intelligent discounting , or more - alongside accurate, upfront estimates has been shown to improve collection rates for hospitals by forging the right connection between the provider and the patient.

About the author: John Talaga us the executive vice president and general manager for healthcare at Flywire.

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