Informed Financial Consent for Specialist Care
Informed Financial Consent (IFC) means giving a patient enough information about expected fees and likely out-of-pocket costs before treatment so they can make an informed financial decision.
What patients should understand before treatment
The Australian Government Medical Costs Finder describes informed financial consent as receiving an estimate of costs before agreeing to treatment. Patients may need information about the doctor's fee, Medicare benefit, private insurer contribution and any expected gap. Medical Costs Finder: guide to costs.
Written estimates and specialist fees
Government guidance encourages patients to ask specialists for a written estimate of fees and to check whether a gap arrangement with their private health insurer may reduce out-of-pocket costs.
IFC and inpatient billing
For private inpatient treatment, the final financial picture may include the specialist's fee, Medicare benefit, private health fund contribution, other treating specialists and hospital charges. ECLIPSE eligibility checking can also provide information that assists with estimating some out-of-pocket expenses before an anticipated admission. Services Australia: ECLIPSE eligibility checking.
DEVZ and informed financial consent
DEVZ can support the billing administration around the doctor's chosen fees and claiming arrangements, but the practitioner remains responsible for the clinical service, fee decisions and the financial information communicated to the patient.
Frequently asked questions
What is informed financial consent?
It is the process of giving a patient an estimate of expected treatment costs and likely out-of-pocket expenses before treatment.
Should a patient receive a written estimate?
Government guidance encourages patients to ask their specialist for a written estimate of fees and out-of-pocket costs.
Does an ECLIPSE eligibility check guarantee the final gap?
No. Eligibility information can assist with estimates but does not guarantee final claim assessment or every cost associated with treatment.
Need billing support?
DEVZ Solutions specialises in inpatient medical billing and can also manage outpatient, private and bulk-billed specialist work when required.
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