Hospitals are one of the most important socioeconomic activities that requires good efficiency and administration. Patients' well-being is harmed when they face financial hardships while receiving treatment in a hospital A financial counsellor provides financial counselling and help the patients regarding medical expenses. The goal of this case study is to assess the value of financial counselling in healthcare industry.

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Amity Institute of Hospital Administration
NTCC- HACS60
Importance of Financial Counselling in Healthcare
PRESENTED BY : Shwetha Elizabeth George
FACULTY GUIDE: Dr Yogesh Chandra
ENROLL NO : A13234021012
PROGRAMME : MHA
SEMESTER : 2nd

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Amity Institute of Hospital Administration
INTRODUCTION
• Hospitals are one of the most important socioeconomic activities that requires good
efficiency and administration.
• Patients' well-being is harmed when they face financial hardships while receiving
treatment in a hospital
• A financial counsellor provides financial counselling and help the patients regarding
medical expenses.
• The goal of this case study is to assess the value of financial counselling in healthcare
industry.

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Amity Institute of Hospital Administration
AREA OF STUDY
Patients are frequently helpless and price blind when it comes to understanding
complicated bills in the healthcare industry. In the hypothesis case, a patient was
posted for appendicectomy and during surgery it was found that patient had
complications hence the length of stay prolonged. The patient or the relatives were
unaware of the rising cost and they were not informed regarding it. During discharge
there was a confusion and disagreement with patients relatives and the staff. To avoid
such situations its always best to have a financial counselling department with a
financial counsellor to educate patients about payment options and financial
assistance, insurance assistance, payment arrangements, updating patient accounts
and balances.

4. AREA OF STUDY
• They serve as a link between patients and their insurance companies,
coordinating payments and answering queries from both parties.
• They have the responsibility of managing financial obligations so that the
doctors can concentrate on providing care.
• Financial counsellors will estimate hospitalisation costs as well as provide
information on the various sorts of financial assistance available.
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Amity Institute of Hospital Administration

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Amity Institute of Hospital Administration
METHODOLOGY
• A hypothetical problem is used in this investigation. This problem is further
evaluated and solutions are made for it. This project's findings and analyses
are based on a structured evaluation of published literature.
• A small amount of data was gathered by telephonic questioning from
experts in the field, and other relevant secondary data (research reports,
administrative articles, gadget and software specifications) was gathered
via website searching and reference chaining

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Amity Institute of Hospital Administration
EVALUATION /ANALYSIS
• The cost of the procedure and the post operative care cost was not discussed
properly with the patient or relatives.
• The complications and findings during the surgery, the need for increase in the
length of stay and the cost associated with it was not explained properly.
• The patient and the relatives were not prepared for paying above their budget.
• There was no advisor or financial counsellor to explain about the outstanding bills.

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Amity Institute of Hospital Administration
RECOMMENDATIONS
• It will be better if there is specialized department for financial counselling in every
hospitals, which will decrease the financial burden on the patient.
• There should be specific packages for each treatment and it should be well
explained to the patients.
• We can follow a patient centric approach, where they can choose their treatment
according to their budget.

8. RECOMMENDATIONS
• There should be signages in front of the OPD with the treatment cost and procedure
costs.
• There should be a provision to pay hospital bills on 3 instalments one during
admission, second after a surgery or procedure and final instalment during discharge
so that the patient and relatives will get an idea about the total costs.
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Amity Institute of Hospital Administration

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Amity Institute of Hospital Administration
CONCLUSION
• Hospitals should prioritise financial counselling to help patients with the billing
process and meet their obligations throughout the care episode.
• Patients are increasingly seeking assistance to get a cost estimate and they expect a
timely and accurate response to help them make their decisions.
• Financial counselling will increase patient satisfaction and in turn well-being of
patient and also overall success of the organization.

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Amity Institute of Hospital Administration
RFERENCES
Gesme, D. H., & Wiseman, M. (2011). A financial counselor on the
practice staff: A win-win. Journal of Oncology Practice, 7(4), 273.
(Financial counselling: A day in life, 2017)
(Role of financial counsellor in healthcare, 2020)
(Financial counselling: change in healthcare, 2020)