HFMA releases best practices for patient financial interactions
The Healthcare Financial Management Association (HFMA) formally unveiled draft best practices to bring “more consistency, clarity and transparency to patient financial interactions,” according to Joseph Fifer, CPA, the organization's president and CEO.
Speaking at ANI: The Healthcare Finance Conference in Orlando, on June 16, Fifer said the proposed best practices emphasize open and early communication, the sharing of clear information and the identification of a path for financial resolution that is fair for both patients and healthcare providers.
“Healthcare financial interactions can sometimes be complex and confusing. That’s because they involve complicated payment structures, dozens of different payers and forms and varied government programs,” Fifer said at the conference. “When you add the reality that patients are becoming responsible for greater proportions of their healthcare costs, clear guidelines and communication are more important than ever.”
The draft best practices—published at pfibestpractices.com—cover emergency department interactions, time of service interactions, advance of service interactions, best practices for all patient financial interactions and PFI Measurement Criteria. The guidelines examine when and how communication should take place about patient insurance coverage, financial counseling, patient financial responsibility for service and any existing balance the patient may have.
A steering committee, which included leaders from HFMA, the National Patient Advocate Foundation, the American Hospital Association, Harvard Medical School and America’s Health Insurance Plans, developed the guidelines over the past year. An advisory panel consisting of Sen. Tom Daschle, Sen. Bill Frist, former Secretary of Health and Human Services Donna Shalala, Gov. Michael Leavitt and attorney Jamie Gorelick oversaw the effort. Leavitt Partners facilitated the steering committee process.
The proposed guidelines are open for public comment until July 31.