Hospitals posed new challenges in managing risk [Video]

Jan 27, 2016 | Hospital Budgets

As consumers demand more information on their health care, providers are posed with new challenges in risk management. This pressure is compounded by insurers withholding information on deductibles that could be useful to providers helping patients calculate their out-of-pocket costs.

These kinds of demands have diminished the boundary between providers and payers, who have become savvy about their health care options. This has prompted health care systems to make changes that accommodate both patients and their own bottom-line, ultimately working toward value-based care.

Following the example of the Mayo Clinic, providers can reduce risk in balancing financial needs with quality care by using patient feedback to suggest improvement to physicians.

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