What is a common outcome of effective financial counseling in healthcare?

Effective financial counseling in healthcare primarily aims to enhance patients' understanding of their financial responsibilities and the costs associated with their care. This increased awareness enables patients to make informed decisions about their treatment options and fosters better financial planning. By providing patients with clear information about treatment expenses, including potential out-of-pocket costs, they can assess their financial situations and facilitate discussions about payment options, insurance coverage, and potential financial assistance programs.

While lowering staff turnover, streamlining administrative procedures, and reducing medication errors are important aspects of healthcare management, they are not direct outcomes of effective financial counseling. These areas are generally influenced by different factors, such as employee engagement practices, technology improvements, and training programs focused on medication safety. The primary goal of financial counseling is to empower patients through enhanced awareness of their financial commitments, making the option related to increasing patient awareness of treatment costs the most relevant outcome.