HaysMed Expands Point of Service Collections
HAYS, Kan. (Jan 19, 2015) HaysMed has initiated expansion of its Point of Service (POS) Collections. The new Payment Service Program (PSP) includes patients being told in advance what will be involved in their care so they can appropriately plan for their service. The new plan takes effect January 20, 2015.
HaysMed has practiced collecting the co-pay in its clinics for the past few years but the PSP will now include hospital visits, and will expand to eventually include all registration areas within the hospital. The expanded process involves providing patients information upfront about their financial responsibilities, allowing them earlier payment and financial planning opportunities.
The PSP includes both pre-service and point of service payments. Pre-service covers discussions and collections of a patient’s payment (e.g. copay, deductible, co-insurance) for scheduled services prior to arrival at the hospital. PSP is centered on discussions and collecting a patient’s payment upon the patient’s arrival at Registration for a scheduled service or when he/she is discharged from the Emergency Department.
Traditionally, health facilities have focused on educating patients about the clinical aspects of their services and the patients received their bills after the service was provided. With the advent of transparency in pricing, facilities are trying to educate the patient on both the clinical and financial aspects of their services. This information allows patients to make more informed decisions when planning for their care.
“We’ve always taken pride in providing quality healthcare and customer service for our patients, and in order to continue to provide superior services, we must adapt to the constant and complex changes of the healthcare environment.” said George Harms, Chief Financial Officer at HaysMed.