Giving Your Patients the Wellness Care They Want and Deserve

Today, the concept of “health” has evolved beyond a one-size-fits-all approach solely addressing physical symptoms. For many, it now signifies a personalized wellness journey, encompassing comprehensive care for the whole person — body, mind, and soul — over the long term.

In the United States, approximately 50 percent of consumers now prioritize wellness in their day-to-day lives. According to a recent wellness report by the Global Wellness Institute, North America boasts the highest wellness spending per capita at $5,108 annually with the U.S. exceeding the rest of the world as U.S. health expenditures – including both public and private spending on healthcare – were about $13,400 per person in 2022. The report also identifies personal care and beauty ($1.09 trillion), healthy eating, nutrition, and weight loss ($1.08 trillion), and physical activity ($976 billion) as the largest wellness segments.

However, wellness services in these segments – also including preventative care, acupuncture, and counseling, among others – are often considered elective and lack insurance coverage, placing the financial burden on consumers. This financial barrier to wellness care affects individuals across genders, ethnicities, and ages, limiting access to vital services.

With a steady increase in high deductible healthcare plans, even more traditional wellness services like annual physicals, health screenings, and therapy often leave people assuming more of the financial responsibility for their care, leaving even less available budget for wellness needs. In 2022, the Lifetime of Healthcare Costs study found that people underestimate what they pay for their healthcare over their lifetime, and that 28% of people delay medical care because of the cost of procedures, with 17% ignoring a recommendation outright.

How Providers Can Offer Financial Solutions for Overall Wellness Support

Healthcare providers play a pivotal role in fostering the well-being of their patients, extending beyond medical treatment to encompass overall wellness support and access to care. Recognizing the interconnected nature of financial health and well-being, providers can proactively offer financial solutions to empower patients on their wellness journeys.

1. Transparent Communication: Providers can begin by fostering open and transparent communication about the financial aspects of healthcare. This includes discussing the costs associated with treatments, procedures, and wellness services. By providing clear information, patients can make informed decisions about their care and financial commitments.

2. Educational Resources: Offering educational resources on available financial solutions is crucial. Many patients may not be aware of options such as health and wellness credit cards, installment plans, or financial assistance programs. Providers can create informational materials or direct patients to resources that explain these solutions and their benefits.

3. Partnerships with Financial Service Providers: Establishing partnerships with reputable financial service providers can enhance the range of financial solutions available to patients. For instance, collaborating with companies like Synchrony who offer the CareCredit health and wellness credit card allows patients to manage their healthcare expenses over time, reducing the immediate financial burden. This strategic partnership also streamlines financial workflows and reduces staff time on payment processes. Additionally, financial services providers offer educational resources, helping to demystify the complexities of healthcare billing for both clinic staff and patients.

4. Integration of Technology: Leveraging technology can streamline the financial process for patients. Online portals or mobile applications, developed by an iOS app development company, can provide easy access to billing information, payment options, and educational materials about financial wellness.This tech-enabled approach, often offered by third-party financial solutions providers, enhances convenience and transparency.

5. Payment Options: Offering payment options, such as installment plans or deferred payment arrangements like the CareCredit health and wellness credit card, can ease the financial burden on patients. This flexibility ensures that individuals can access necessary wellness services without compromising their overall financial stability.

6. Promoting Preventive Care: Emphasizing the importance of preventive care and wellness services can contribute to long-term cost savings for patients. Providers can encourage regular check-ups and screenings, helping patients address potential health issues early and avoid more significant healthcare expenses in the future.

In conclusion, understanding the impact of out-of-pocket costs on access to care is paramount for providers. Wellness services should be viewed as a necessity, not a luxury, and individuals should have the assurance that they can pay for a full range of treatments and services within their budgetary constraints. By fostering transparency, offering education, and providing access to tailored financial options, healthcare professionals can empower individuals to prioritize their health without compromising their financial stability. This holistic approach not only addresses immediate healthcare needs but also contributes to the long-term well-being of patients.