Rice Memorial Hospital has achieved recognition as an Adopter of the Healthcare Financial Management Association’s (HFMA) “Patient Financial Communications Best Practices®.”
As a Best Practices Adopter, Rice Memorial Hospital has demonstrated that it follows nearly 100 best practices covering all aspects of financial interactions that take place in a variety of care settings.
“In a time when patients are paying more out-of-pocket for their health care, the financial conversations we have with patients have never been more important,” said Jackie Hinderks, Director of Revenue Cycle. “We have taken steps to ensure that patients are treated with compassion and respect in financial matters, and this recognition confirms that.”
Rice Memorial Hospital offers several programs to help patients resolv3e their medical bills and out-of-pocket expenses. These include: a free estimate of costs prior to service, a pre-service payment option, 0% bank loans, free health insurance counseling, grants, financial assistance, and other payment options.
“Patients appreciate that we provide estimates and explain the difference in costs of procedures and services. These estimates help patients be more fiscally knowledgeable and responsible. Additionally, patients can be scared to talk with us about their bills because they don’t think they can afford to pay. After talking with our staff about our flexible payment options and grant programs, they are often relieved,” said Hinderks.
Rice Memorial Hospital joins a select group of hospitals, health systems, and physician practices that have received this first-of-its-kind, national recognition. A blue-ribbon task force developed these best practices to help improve communication between healthcare providers and consumers about financial matters.
The Healthcare Financial Management Association (HFMA) is the nation’s premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today. Working with a broad cross-section of stakeholders, HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices. For more information, visit HFMA.org.