Price transparency is becoming a hot topic in today's health care landscape, from both patient and managerial
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Question:
Price transparency is becoming a hot topic in today's health care landscape, from both patient and managerial perspectives. Many health care entities are taking price transparency a step further, and are catering directly to the patient consumer by offering cash pricing.
Assume the role of a physician-owned, surgery center manager. The owners have called a meeting to discuss changing the center's payment model to reflect cash pricing. This move would also eliminate insurance payments entirely. Respond to the following questions:
- Research similar cash-pay models for surgery centers. In bullet point format, provide three pros and three cons of this model.
- Discuss the impact moving to the cash-pay model would have on your staff and daily operations. What adjustments would need to be made?
- What financial documents will you reference to compare prior years' financials with projections of the cash-pay model?
- How will your financial practices be affected by no longer accepting insurance payments?
Related Book For
Statistics For Business And Economics
ISBN: 9780321826237
12th Edition
Authors: James T. McClave, P. George Benson, Terry T Sincich
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