There’s no doubt about it: hospital financial assistance policies are a lifeline for patients facing financial struggles. However, these policies frequently do not apply to bills for care provided by physicians not employed by the hospital or health system—such as those who work in hospitals as specialists, consultants or emergency providers.
Let’s dive into three key reasons hospitals should encourage private practice physicians with hospital privileges to honor their financial assistance policies.
1. Bridging the Health Equity Gap
According to The Commonwealth Fund, low-income individuals are twice as likely to report poor health compared to higher-income individuals due to financial barriers to care.
Non-employed physicians, such as cardiologists and emergency room specialists, play a critical role in patient outcomes. Excluding these physicians’ services from financial assistance programs means patients are more likely to avoid treatment due to cost barriers, leading to worsening conditions that require more expensive care in the future and widen the health equity gap.
2. Combatting Medical Debt
When services provided by independent physicians aren’t included in financial assistance policies, patients are left vulnerable to overwhelming medical debt—a pervasive issue affecting millions of Americans.
For instance, a patient requiring surgery may not be aware that their anesthesiologist is an independent physician. As a result, after the patient gets home from recovery, they may get an unexpected—and unaffordable—anesthesia bill that they simply can’t afford.
Addressing medical debt through comprehensive financial assistance policies helps create a sustainable and equitable healthcare system, allowing patients to prioritize their health without the fear of insurmountable bills.
3. Fostering Trust in the Healthcare System
Financial transparency is crucial for maintaining patient trust. Unexpected bills from independent physicians can severely damage this trust, especially when patients believe their out of pocket costs fall under the hospital’s financial assistance policies.
By encouraging non-employed physicians to honor the hospital’s financial assistance policy, hospitals can build stronger, more trustful connections with their patients—resulting in increased patient satisfaction and loyalty, and a reduction in healthcare avoidance.
The Path Forward: Inclusive Financial Assistance
Encouraging independent physicians to honor hospital financial assistance policies is essential for promoting health equity, reducing medical debt, and building trust through transparency.
By uniting to champion these policies, hospitals and independent physicians can create a more compassionate and just healthcare system. Together, we can ensure that financial assistance supports every aspect of patient care, paving the way for a healthier, more equitable future for all.
