Webinar: Confident Cost Conversations in Health and Wellness

Many patients and clients face tough financial decisions when it comes to paying for care. That's why it’s important for health and wellness providers to step in with solutions, including flexible payment options and transparent communication.

In the on-demand webinar, “Confident Cost Conversations,” providers will learn ways to guide patients and clients through financial discussions with confidence and care.

The session focuses on three techniques to support meaningful financial conversations:

• Using the right approach
• Having a plan
• Creating the right environment

Use the Right Approach

Thinking about paying for health and wellness care can be emotionally challenging for patients. You and your staff can help by giving patients simple and clear information about payment options very early in your relationship with them.

“The right approach starts with empowering patients and clients with information and choices that make sense,” explains Catherine Bocciarelli, assistant vice president for provider training programs at CareCredit. “Having your team proactively prepared to show options for how care can be paid for sets the right tone from the beginning.” (00:07:12)

This can include clearly displaying signage in your office that highlights available payment options, as well as providing brochures and take-home packets as part of your patient and client communications. These materials should offer clear, comprehensive details about your financing solutions, empowering patients and clients to make informed decisions.

Bocciarelli also emphasizes the importance of “we” statements in your written materials and in explaining patient financing programs or flexible payment options. “[These] statements give the feeling you are in this together,” she says. “They sound like you are rowing the boat together. They don’t sound like the patient is off swimming on their own.” (00:10:19)

She provided some example statements: (00:12:20)

• "We believe that financial concerns should never prevent you from receiving the care you need, so we offer various payment options to help fit your budget."
• "We take pride in providing comprehensive care, and part of that commitment involves offering flexible financing solutions to our patients/clients."
• "We can guide you through the process of understanding your insurance benefits and explore alternative financing options to help cover any remaining expenses."

Have a Plan

Establish a set plan that you and your staff follow every time you engage and communicate with patients and clients about financial responsibilities and options.

An important part of that plan is to communicate early about financing in order to avoid any surprises and a buildup of cost anxiety from patients or clients.

“Bring up the financials right away, and work through the rest after that,” Bocciarelli says. She adds that there are various “touchpoints” with patients and clients throughout their patient or client journey with you. These include your initial consultation with the patient or client, the first explanation of your recommended treatment plan and informational discussions before any procedure or service. Use any and all of those touchpoints to have simple conversations about financing options, she explains. (00:13:40)

It's also important to make sure patients and clients understand that these conversations are a normal part of your patient engagement with everyone. That will help alleviate concerns individuals may have that you are singling them out for these conversations.

"It's important to let them know that this conversation is had with every patient, and that's why you provide plenty of resources and options to help them make the best decision to pay for their care,” Bocciarelli says. (00:14:36)

Create the Right Environment

Creating the right environment for these cost conversations is important for patient comfort. One way to do that is by standardizing the language and training staff accordingly. “Very few are born with this conversation skill," points out Bocciarelli, "but getting better is easy with just a little practice.” (00:22:59)

Your team should regularly review and share best practices for how to have effective financial conversations with patients and clients, and learn about common hesitations and methods to manage them. You might train staff on specific subtopics during regularly scheduled staff meetings or have separate, longer training sessions on ways to talk with patients about these issues.

Training topic areas you might wish to include: (00:23:45)

• Understanding patient/client perspectives
• Communication skills, including active listening and empathy
• Addressing potential barriers from patients and clients, including hesitations or misconceptions

“It's all about the team being on the same page just to create the best possible experience for that patient,” she says. (00:23:35)

Your staff should also understand that patient privacy is paramount. That means figuring out ways to have these conversations in areas of your office where others aren’t present and ensuring they're conducted as privately as possible.

“This can be a sensitive, vulnerable conversation for many patients, and they will not feel any better if they think others can listen in on it,” Bocciarelli explains. “Creating the right environment that makes them feel safe and secure helps to build comfort and trust.” (00:26:33)

Solutions That Bring Rewards

Patients and clients will appreciate when you and your team thoughtfully and sensitively provide this financing and payment support. The improved experience will mean patients and clients may, in turn, reward you with their loyalty.

Learn More: Watch this webinar for more insights on how to have impactful cost conversations with your patients or clients.

Offer Flexible Financing at Your Practice

If you are looking for a way to connect your patients or clients with flexible financing that empowers them to pay for the care they want and need, consider offering CareCredit as a financing solution. CareCredit allows cardholders to pay for out-of-pocket health and wellness expenses over time while helping enhance the payments process for your practice or business.

When you accept CareCredit, patients or clients can see if they prequalify with no impact to their credit score, and those who apply, if approved, can take advantage of special financing on qualifying purchases.* Additionally, you will be paid directly within two business days.

Learn more about the CareCredit credit card as a financing solution or start the provider enrollment process by filling out this form.

Author Bio

Todd Murphy is a professional writer and editor with more than 30 years of experience including two decades as a newspaper and magazine journalist. He has worked with hospitals, academic health centers, universities and other institutions to create content for various audiences, with a focus on providers, patients, prospective patients and the general public.