Developing the role of the financial coordinator and hiring the right personality for the position is the first step to success with your practice’s financial consultation process. However, personality and skill alone will not allow your financial coordinator to finish out the relay and make it a win for both your patients and your team. To provide the best possible patient education and service, as well as convey the patient’s financial obligations to the practice, the following steps should be taken to prepare for the financial consultation.
In most practices, the financial consultation and process seem to be where the most confusion and misunderstanding occur. To eliminate confusion and help patients understand their financial responsibilities in your practice, the following forms and documentation are necessary:
Much of the preparation involved with the financial consultant will be rolled in with the new patient process. However, for existing patients with new treatment plans, it is important that the financial coordinator review the patients’ charts and be prepared.
Although it takes time and effort to create the documentation necessary for the financial consultation, you will see a return on your investment. Most of the preparation and documentation create stronger communication regarding the practice’s financial policies and more importantly, the patient’s responsibility to those policies. When you and your staff manage patients’ expectations, the experience is more positive overall. After all, it is easier to set your practice up for financial success than it is to recover due to poor communication.
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