Finance Learning Moment-Implement a Direct-Pay Strategy and Grow Revenue

Implement a Direct-Pay Strategy and Grow Revenue

Video Transcription

Video Summary

In the video, the speaker discusses the benefits and implementation of transparent pricing and bundled payments in healthcare practices. The emphasis is on catering to direct pay patients, self-funded employers, and uninsured individuals. By setting upfront prices and bundles for services, practices can attract new patients and streamline revenue cycles. The speaker recommends owning the bundle to control pricing and partnering with facilities to ensure fair payment. Documentation for patients opting out of insurance coverage is necessary for legal and medical purposes. Ultimately, transparent pricing provides a consumer-centric solution, improves workflow efficiency, and offers a new revenue stream for practices.

Keywords

transparent pricing

bundled payments

healthcare practices

direct pay patients

self-funded employers

uninsured individuals

upfront prices

revenue cycles

patient documentation