Definition of Financial Navigation
Financial navigation happens when healthcare teams proactively support patients by explaining insurance plans and benefits, setting up payment plans, and exploring cost-saving strategies. A variety of roles within a practice can serve as financial navigators, including pharmacists, nurses, administrators, social workers, and individuals with the dedicated title of Financial Navigator. These diverse professionals work closely with patients to alleviate the financial burden associated with cancer care. Financial navigation is vital for helping patients and caregivers through their journeys with cancer.
Focus Groups
This year, we partnered with the Michigan Department of Health and Human Services (MDHHS) to conduct two focus groups exploring processes and gaps in financial navigation across MOQC practices. Our goal was to better understand training, experiences, and challenges faced by financial navigators.
Representatives from fifteen practices across all seven MOQC regions participated in the focus groups, and the insights they shared have been compiled into a report submitted to MDHHS. Some key findings include:
- Variation in Services
- Diverse Professional Backgrounds
- Inconsistent Training
- Core Responsibilities and Bandwidth Challenges
- Role Definition
- Patient Identification
Training in Financial Navigation
One of the most common findings was a gap in formal training and role definition for financial navigators. To address these needs, we are excited to announce our next collaboration with MDHHS to develop a training program, led by Dan Sherman, that will enhance the skills and effectiveness of financial navigators.
Dan has over 15 years of experience in financial navigation, specifically working with oncology patients, and is the founder and president of The NaVectis Group. He currently serves as a financial navigator at Lacks Cancer Center in Grand Rapids, MI.
The training will be offered on three dates and is free for MOQC-participating practices until space fills. Practice members interested in this training will be invited to one session. Please see the flier here for more details and registration information. This is a valuable opportunity for practices to enhance their financial navigation services and better support patients facing the challenges of cancer care costs.
We look forward to working together to improve financial navigation in oncology care!