Medical Articles & News

How to Read Your Medical Bill

May 31, 2023 by Christopher Wolfington
Tags: Medical, Patient Financial Management, Patients

Trying to understand an invoice from your doctor or specialist can be frustrating because medical billing is notoriously complicated. Most invoices include a long list of services and fees that may not make sense to the average person. Learning how to read your medical bill and understanding the components of a medical invoice will help you avoid confusion and be better informed about your healthcare expenses.

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What Solutions Does FinPay Offer for Patient Financial Management?

May 17, 2023 by Christopher Wolfington
Tags: Patient Financial Management, Patients, Payment

When you need healthcare, you shouldn't have to worry about how you'll afford it or even how to understand your medical bill. Unfortunately, navigating medical costs can be so overwhelming that many people put off vital treatment. Don't put off healthcare when you need it; FinPay offers financial management solutions that can help you understand your bill, the healthcare cycle, and your options for managing your expenses.

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5 Common Obstacles to a Positive Patient Financial Experience

April 12, 2023 by Christopher Wolfington
Tags: Patient Financial Management, Patients, Healthcare Consumer Experience

Having a good experience with a medical provider goes beyond bedside manner and office cleanliness. Knowing what to expect on the bill and the available options for paying what is owed are significant factors as well. Clearing the obstacles to a positive patient financial experience is critical for retaining business and receiving better reviews. Plus, patients are more likely to refer an office where they had a good experience.

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3 Common Misconceptions About Patient Financial Responsibility

April 5, 2023 by Christopher Wolfington
Tags: Patient Financial Management, Patients, Healthcare Consumer Experience

Determining what you're going to have to pay for treatment can be confusing and unclear. You might have trouble understanding what your insurance plan covers or what types of plans your doctor accepts. You're not alone. There are several common misconceptions about patient financial responsibility that you might also believe.

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3 Ways to Avoid Medical Debt

March 1, 2023 by Christopher Wolfington
Tags: Patient Financial Management, Patients, Medical Debt

Medical debt is a growing issue that affects individuals and families across the nation. Many people struggle to pay their medical bills due to rising costs, coverage gaps, and unexpected expenses. As a result, they end up with massive amounts of medical debt that can be difficult or even impossible to pay off. Fortunately, there are several steps to avoid medical debt you and your family can implement.

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What Are the Benefits of FinPay for Patients?

February 15, 2023 by Christopher Wolfington
Tags: Patients, Healthcare Consumer Experience, Medical Debt

The American healthcare system is a complicated system of interlocking participants that often creates a confusing picture for the average patient. For patients, their healthcare experience is determined by an opaque network of providers—including hospitals, treatment centers, and doctors' offices—and the always inscrutable insurance companies that determine coverage.

Is it any wonder that financial concerns, especially surprise medical costs, are one of the biggest reasons people forego necessary medical services or discontinue ongoing treatment? The fear of medical debt is an obstacle to the patient-provider relationship as it erodes trust. A patient that has unexpected costs is less likely to address their financial patient responsibility since they feel ambushed, and a provider that discontinues services to a patient for unpaid bills is not helping that patient heal. 

Consider the following: 
  • In 2017, the U.S. spent an estimated $3.5 trillion on healthcare, equal to 17% of the GDP
  • The average annual cost of health insurance premiums in 2020 was over $20,000 for a family plan
  • Out-of-pocket costs for hospitalizations increased by 72% from 2005-2015 
  • More than 1 in 10 adults are unable to pay medical bills at some point during the year 
  • Over 60 million Americans had past-due medical debt reported on their credit reports as of 2019

The behavioral healthcare industry is no different. FinPay offers patients automated payment solutions. This helps alleviate financial uncertainty and allows providers to collect revenue more efficiently while restoring the trust between patient and provider. Contact FinPay today at to learn more.

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What Are the Advantages of Patient Pre-Authorizations?

October 12, 2022 by Christopher Wolfington
Tags: Patients, Provider, Tips

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What to Do When You Need More Payment Options for Healthcare Services

September 28, 2022 by Christopher Wolfington
Tags: Patients

In navigating American healthcare, including behavioral healthcare, most Americans have a decidedly unpleasant experience. Financial considerations are almost always the root of the problem as there is a lack of practical, accessible payment solutions for patients. When a patient is surprised by unexpected medical bills, or the bills are more than a patient can afford, it creates a breakdown in the patient-provider relationship. 

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How Pre-Care Engagement Can Help with Patient Retention

September 21, 2022 by Christopher Wolfington
Tags: Patients, Tips

The American healthcare experience, including behavioral health, for the average patient, is generally complex, confusing, frustrating, and overall unpleasant experience. Is it any wonder that the relationships between patients and providers are so distant or that unpaid medical bills are now a major source of debt collection for American consumers? There is a solution for providers who wish to foster a healthy, productive relationship with their patients.

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How To Give Your Patients The Best Consumer Experience in Healthcare

August 3, 2022 by Christopher Wolfington
Tags: Patient Financial Management, Patients

The American healthcare system is a nightmare for most consumers. Patients often are left to navigate complex and confusing insurance plans in a frustrating attempt to understand coverage and co-pays. For providers attempting to deliver healthcare but also run a business, they are largely unaware of the patient's financial experience. They generate a bill, collect co-pays, file insurance, and ultimately pursue collections of outstanding patient financial responsibility.

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