January 4, 2011 - Memorial Health System Offers New Financial Support System
The Memorial Health System announces implementation of a payment process that helps patients know and understand the cost of their medical care before receiving services in non-emergent situations. As part of its financial transparency to the community, the health system’s software tool offers real-time cost estimates for co-pay, co-insurance and deductibles so patients can make informed decisions about their health care.
“Today many organizations require payment at the time of service and that includes hospitals,” says Memorial Health System’s senior vice president and chief financial officer, Orvie Fischer. “Memorial Health System has expanded its programs to provide additional support to those patients in need and to assist our patients with the opportunity to make financial arrangements prior to receiving treatment,” said Orvie Fischer, Chief Financial Officer. “We hope this will provide patients with additional peace of mind and allow them to focus on the healing process.”
Emergency Room patients will receive care regardless of their ability to pay. Likewise, for those patients who may have difficulty paying for their healthcare bills the hospital provides several financial support programs including specialized Financial Counseling staff, financial screening for Medicaid and other governmental or local programs application assistance, a 20% prompt pay discount and advance payment plans.
“This system helps connect patients needing financial support with assistance earlier in the process. Additionally, by collecting payments at point-of-service, hospital operating costs are kept down and these savings are reinvested into the facility to pay for technology and care – all of which benefit our community,” said Fischer.
For questions about how this affects your health care, please call 740-374-1549.