A recent blog post by VistiPay discusses two ways to improve the patient experience with patient estimates.
Editor's Note: This article originally appeared on VisitPay's website.
In 2018, the Center for Disease Control found that 43% of individuals with private health plans have a high deductible health plan (HDHP). An HDHP means an individual plan holder is responsible for at least the first $1,350 of their healthcare expenses each year, often with an additional co-insurance requirement until they reach their out-of-pocket maximum. The deductible increases to $2,700 for families on an HDHP whose 2016 average total out-of-pocket expenses totaled $4,300.
As patients shoulder more of the financial burden from their health care, they are asking for an understanding of costs before they get treatment. Health systems are responding to this demand by making estimates more accessible, but with the risk that the estimated amount could be much different than the final bill. I won’t discuss the reasons the estimate can vary so much (there are many); instead, I’d like to focus on what to do with an estimate even if it’s likely to be wrong. To discuss this strategy further, let’s put these estimates into two categories. Click here to continue>>
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