Which step is involved in the process of verifying the financial obligations of the patient?

Establishing financial responsibility is a crucial step in the process of verifying a patient's financial obligations. This involves confirming what costs the patient is responsible for prior to the provision of services. This step includes checking the patient's insurance coverage, determining co-pays, deductibles, and any exclusions or limitations that might affect the patient's financial responsibility.

By establishing financial responsibility, the healthcare provider ensures that the patient is aware of their potential out-of-pocket costs and that the necessary arrangements are made to cover these costs. This not only aids in the efficient collection of payments but also enhances patient satisfaction by preventing unexpected bills after services have been rendered. It creates transparency, allowing patients to make informed decisions regarding their healthcare options based on their financial situation.