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BlogProduct UpdatesUnderstanding the Benefits of Cash-Pay Labs for Your Practice and Your Patients
As a provider, you’re constantly looking for ways to offer the best diagnostic testing options while trying to efficiently manage patient costs. It’s a balancing act. That’s why, as the whole person care movement gains momentum, more and more providers are exploring a cash-pay labs model to meet their practice and their patients’ needs.
Patients are also starting to realize the value and benefits of cash-pay labs, as new direct-to-customer testing options enter the market, promising to help them take more control of their health.
Let’s take a quick look at how the cash-pay labs model works and see if it’s a good fit for your practice.
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As the name suggests, cash-pay labs are simply diagnostic tests that are paid for directly by the patient – out-of-pocket – versus going through the commercial health insurance system. This enables providers to use their expertise to deem what tests are worth ordering based on their clinical assessment – particularly specialty tests that are often not covered by insurance. Since labs are paid for prior to testing, cash-pay labs give patients full transparency on the total cost of testing.
Many people immediately associate cash-pay labs strictly with concierge medical services, but the reality is they can benefit a range of practice types. Practices that frequently see patients without commercial health insurance or those whose care requires specialty tests not traditionally covered by insurance – can both benefit from offering a cash-pay option. We have also recently seen a rise in the popularity of practices that offer comprehensive, periodic testing as part of a patient membership model. Cash-pay labs can also be beneficial to smaller practices without the administrative staff to manage the complexities of billing.
Cash-pay labs allow providers to…
Deliver quality care without constraints
Whole person care is a commitment. Cash-pay labs can help you practice at the top of your license by recommending the blood and specialty tests you deem your patients need promptly.
Spend more time on patients not paperwork
Cash pay labs provide a simple, fast ordering process – free of complexity and hassles. Reducing the stress on your practice and giving you more time to focus fully on patient care and outcomes. Cash-pay labs can help clear up your day and reduce stress.
Protect valuable patient relationships
Surprise bills can cost your patients and your practice. Cash-pay labs allow you to offer completely transparent, upfront pricing prior to any test – increasing test adherence and building trust with your patients.
What providers have to say
"Cash-pay testing has been a valuable option for my patients, especially those without insurance—it gives them access to testing that might otherwise be out of reach. The process is simpler on our end too, with less coding and faster turnaround times. Patients genuinely appreciate being offered labs at a better price, and it’s a great way to make testing more accessible for everyone."-Dr. Bojana Jovanovic
Cash-pay labs allow patients to…
Predict costs prior to testing
No one likes being blindsided by bills months after testing. Cash-pay labs provide clear pricing prior to any orders, allowing patients to make informed decisions about their own healthcare expenses.
Keep tests moving at the right pace
It’s hard to measure the importance of momentum. Cash-pay labs simplify and expedite the transaction process – without delays that can leave patients anxious and waiting for answers.
Access proactive, personalized care
Whole person care empowers patients to take control of their health by focusing on early detection and prevention before issues progress. Cash-pay testing gives patients unfettered access to the labs their providers recommend.
Talking to your patients about cash-pay labs
Clear communication is essential when discussing cash-pay labs alongside insurance options with your patients. You want to make sure they understand the differences in the model and feel confident in their decision. Just like any aspect of their care journey, it is best to meet them where they are and help them see things from a new perspective. By guiding them with honesty and clarity, you can strengthen your relationship and show them how cash-pay labs might offer great value and control over their whole person care.
Best practices for cash-pay labs conversations
Ask patients to reflect on their insurance costs
Encourage patients to consider their deductible, copays, and out-of-pocket expenses. Many may not realize that even with insurance, they may be responsible for significant costs until their annual deductible is met. Additionally, insurance may only cover certain labs, leaving patients with unexpected bills – so you can let them choose the option that works best for them.
Set expectations with a cash-pay quote
Offer an itemized breakdown of what testing will cost your patients if they choose the cash-pay option. Many patients assume insurance based testing is cheaper, but that is not always the case. Showing the actual side-by-side comparisons can give them a clear understanding of costs.
Connect to testing recommendations
When discussing cash-pay testing, focus on making the connection between the test and the patient’s health concerns. Avoid medical jargon and highlight how tests help provide actionable insights. Patients need to clearly understand the value of the test itself to feel confident paying out-of-pocket.
In summary
Offering cash-pay labs does more than simplify your practice’s workflow – it gives your patients a new option to cover the cost of care while transforming how you deliver it. Cash-pay keeps the critical decision making between you and your patients, forging a stronger connection and empowering a proactive approach to healthcare. As your trusted partner, Fullscript can help you start recommending over XXX cash-pay blood tests and specialty kits from industry leading labs companies – Quest Diagnostics, Dutch, Diagnostic Solutions, Doctor’s Data, and more – all in one platform. Now your practice can seamlessly deliver the high-quality care and elevated testing experience your patients deserve. See fullscript.com/labs for the latest information.
The information in this article is intended for healthcare practitioners for educational purposes only, and is not a substitute for informed medical, legal, or financial advice. Practitioners should rely on their own professional training and judgement, and consult appropriate legal, financial, or clinical experts when necessary.
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