Business
Let’s face it, dealing with healthcare bills can often be more stressful than the health issue at hand. But Cody Waldrop, VP of Revenue Cycle Inc., attests that it doesn’t have to be that way. Hospitals and healthcare can change for the better and eliminate some of the anxiety that comes with the business of healthcare. Waldrop explains where there’s room for improvement in this episode of TPC Talks. “Hospitals and providers, in general, need to get better at communicating with the patients,” Waldrop said. Patient stress, anxiety, and frustration often come from a lack of clear expectations of pricing from the start. Waldrop encourages hospitals to be “clear and transparent,” with patients about service costs and billing parties. But how? Waldrop elaborates on new methods of communication like automated text, email, and interactive voice response messaging which help reach patients in a variety of ways. Furthermore, consolidated bills help patients digest their care, and understand their treatment in a comprehensive, holistic way. “It’s critical that if hospitals want to succeed in the coming years...they’ve got to learn how to communicate more appropriately with their patients,” Waldrop emphasized. Healthcare is ultimately an altruistic business, and that sentiment of extending a helping hand must also translate into the financial transaction of the business as well.