When my daughter was born 21 years ago, our out-of-pocket cost was $50. Today, a family might spend $5,000 or more. Hundreds of billions of dollars of responsibility has shifted to patients—and providers are struggling to collect. We’ve entered an era in healthcare where a focus on “patient financial engagement” is critical. Patients must take much more responsibility for their healthcare costs, and providers need to offer more financial education to help them.
This is clear to me first and foremost as a patient. I’ve gone to the doctor a lot. From broken bones as a boy to various injuries and ailments as an adult, I’ve experienced healthcare systems multiple times a year. As an entrepreneur, I always think about how things are done and if they could be done better or faster.
To read the full article from HIMSS click HERE.