While the Patient Protection and Affordable Care Act made insurance coverage more attainable for individuals, it also ushered in an era of greater cost-sharing for patients—and a subsequent demand for more price transparency.
The challenges and opportunities of operating in this new environment will be central themes at the Healthcare Financial Management Association's 2014 Annual National Institute.
About 5,000 attendees are expected to gather in Las Vegas next month, according to a spokesman for the group, which represents more than 40,000 healthcare financial professionals.
Over the past year, the HFMA has introduced a number of initiatives aimed at improving financial interactions with patients. A task force on price transparency last month issued a report on the best practices for informing patients about how much procedures cost. And in October, the HFMA also released its patient-friendly billing guidelines—a roadmap for when and how to communicate with patients about their medical bills across various healthcare settings.