Dennis Dahlen: It’s time to deepen trust in the patient financial experience 

“Healthcare is a journey. It’s not a single episode of care. Especially in cardiology, where the relationships we develop with patients are lifelong, we want to make sure they trust not just their doctor, but the entire organization.” 

So believes one of the standout speakers from HFMA’s 2024 Revenue Cycle Conference in San Diego: Larami Oliver, director of revenue cycle management for Heart and Vascular Care in Alpharetta, Ga. She spoke on the business case for a proactive revenue cycle, sharing the ways her organization’s focus on preservice education and support have reduced days in accounts receivable and denials. 

But the points that resonated most with me were Oliver’s “why” for building a proactive approach to patient financial education, communication and service. 

“At a time when there isn’t as much trust in healthcare as there might have been 10 or 15 years ago, it’s super important that patients are able to get patient financial information in a way that they are comfortable with, can understand and can trust is in their best interest,” Oliver told HFMA prior to her presentation. “We’re all here to make sure the patient is healthy and that they receive the services they need. The last thing we want to do is cause frustration with the billing experience. We want them to know, ‘We’re here to help you.’” 

Trust is emerging as a critical element for success in healthcare this year. During the recent J.P. Morgan Healthcare Conference, the CEO of Walgreens went so far as to refer to trust as a “leverageable asset” and a key driver of growth — and it comes down to reliability and credibility. 

As healthcare finance professionals, we know that the patient financial experience is often complex and confusing. If our big-picture goal as an association is to increase care convenience and access to improve health, we must thoughtfully examine the ways in which the patient financial experience presents barriers to building trust with patients — including in our own organizations. Then, we must consider:  

• How can we embrace innovation in customer service at the front end of the healthcare revenue cycle, as Oliver’s team did?  

• What are the digital innovations that could help increase transparency around out-of-pocket costs of care, and how can we leverage these tools to provide financial care, such as by identifying patients who are likely to qualify for patient financial assistance more quickly?  

Coming out of the Super Bowl last month, fans joked that Taylor Swift was in her “football era.” Let’s make 2024 our patient financial experience era. HFMA is conducting research into how well healthcare finance communicates with consumers and the actions we could take to strengthen trust. I look forward to sharing that research with you soon.