What is the primary purpose of financial counseling in healthcare settings?

The primary purpose of financial counseling in healthcare settings is to minimize outstanding accounts receivables. Financial counseling serves as a crucial resource for patients, helping them understand their financial obligations related to healthcare services. By providing information about payment options, financial assistance programs, and potential insurance coverage, financial counselors aim to facilitate the payment of medical bills. This proactive approach not only helps patients manage their healthcare expenses but also supports the financial health of the healthcare facility by reducing the amount of uncollected debt. Effective financial counseling can lead to better collection rates, ensuring that billing processes are not only efficient but sensitive to the patient's financial circumstances. Ultimately, the primary goal is to create a more manageable financial pathway for patients, thereby reducing outstanding accounts receivables for the healthcare provider.