Implement a Direct-Pay Strategy: Grow Revenue, and Attract Patients/Payers

Your practice needs to develop a comprehensive strategy to accommodate the growing numbers of elective, direct-pay patients, efficiently collect their payments, and simplify the process for your staff. These patients include employees of self-insured companies, as well as those who are out-of-network, underinsured, members of sharing ministries, gig economy workers, medical tourists, HSA, and HDHP patients. These patients make up nearly one third of the total healthcare spend but have difficulty accessing specialty care as more than 95% of orthopedic practices turn away direct payers due to lack of a coherent, reproducible process. Additionally, with new Federal mandates for Good Faith Estimates, practice leaders must act with urgency to create pricing transparency solutions. The way to succeed is to create a digital retail strategy with simple access, transparent pricing, shoppable menus, secure digital payments, and automated GFEs. This session will demonstrate the value of offering transparently priced bundled care plans, how to create and price them, and how to use online strategies to drive revenue, generate GFEs, and streamline direct-pay for your patients, physicians, and staff.