Certified Revenue Cycle Representative (CRCR) Practice Exam

What should be done after estimating a patient's financial responsibility during the pre-service stage?

1. Encourage the patient to seek additional opinions

2. Inform the patient of their financial responsibility and payment plans

3. Make a preliminary insurance claim

4. Send the estimate to the patient via mail for records

The correct answer is: Inform the patient of their financial responsibility and payment plans

Informing the patient of their financial responsibility and payment plans after estimating their financial obligation during the pre-service stage is a crucial step in the revenue cycle process. This step ensures that the patient is fully aware of their potential out-of-pocket costs, which contributes to transparency and helps build trust between the patient and the healthcare provider. Offering payment plans can also make it easier for patients to manage their financial obligations, thus increasing the likelihood of timely payment. By explaining their financial responsibility, healthcare organizations can help patients prepare for the costs associated with their care, potentially reducing the likelihood of surprise billing and improving overall patient satisfaction. This approach aligns with best practices in patient engagement and financial counseling within healthcare settings, enhancing the patient experience while also supporting the financial health of the organization.