ClearBalance, along with Novant Health, will be exhibiting at the Greater Charlotte Health & Fitness Expo in North Carolina in late January. While Novant Health has been involved with the expo for several years, this will be our first time there – and we’re looking forward to it. The expo is a great opportunity to help educate consumers about healthcare costs and their options to repay their cost of care.
Novant Health financial counselors will be available to help expo attendees understand the difference between deductible and premium, in-network and out-of-network, and give them advice about the questions they should ask about their cost for a healthcare procedure. This type of consumer outreach is indicative of the important role the “patient pocketbook” plays in terms of healthcare reimbursement.
Patient pay is growing at least 20% annually, according to McKinsey research statistics. So it’s logical that healthcare systems are putting more effort into collecting pre-service payments and making arrangments for payment in full.
Hosting a Healthcare Financial Literacy booth at a local health fair is also a gesture of good will and branding. Our hope is that by helping Charlotte-area residents understand their financial responsibility – along with options they have to repay their cost of care – they’ll be more likely to think of Novant Health when they need a healthcare procedure.
According to Melanie Wilson, Novant Health vice president of revenue cycle, “Consumers have a voice and choice in their healthcare. In addition to helping patients understand their financial options, we’re streamlining our statements and bills and giving patients more options to pay their portion of care. Our hope is to give patients peace of mind to focus on their care and recovery.”