The Issue with Sending Patients to Collections and How to Avoid It

Medical debt collection is a growing issue that is affecting millions of patients each year and there has been a recent uprise in complaints about how collections are being handled. A recent study from the Consumers Financial Protection Bureau reported that 63% of patients who complained about medical debt collections said that their debt was […]

Exploring the Options for Taking the Financial Pain Out of Healthcare

With impending legislation from the new presidential administration top-of-mind for healthcare providers, managing costs has become a major focus and concern. In the past few years, premiums and deductibles for both employer-sponsored and government-sponsored health plans continue to rise exponentially. As a result, out-of-pocket costs for patients are sky rocketing, making medical debt a serious […]

Tactics to Reduce Bad Debt

NerdWallet Health reports that 56 million Americans struggle to pay medical bills each year and 1.7 million Americans live in a household where medical debt has driven them into bankruptcy. Nowadays, medical debt is the highest type of debt in the U.S.—costing people more and putting them more behind than their bank and credit card […]

Don’t Just Care for Your Patients, Cater to Them

One of the top priorities happening in the healthcare industry today is improving the patient experience. All providers know the significance of the HCAHPS survey and how a high score can help their facility increase profitability, uphold a competitive advantage, keep public investors satisfied and create new incentives to improve care (some hospitals are even getting grants […]

Managing Medical Debt: Four Strategies to Help Patients Pay and Providers Collect

It’s no secret that the rising cost of healthcare is having a significant impact on both patients and providers. As out-of-pocket costs for patients continue to rise and high deductibles and copays become the norm, it’s taking a hefty financial toll on the entire healthcare community. According to a report from Bankrate.com, shared by CNBC, […]

6 Strategies Healthcare Providers Can Use to Improve Patient Experience

Most healthcare providers today understand that consumerism and the growing “power of the patient” is a primary driving force behind the current wave of a recent industry transformation. However, the Prophet and GE Healthcare Patient Experience Survey 2016 results reveal that providers and patients have conflicting perspectives on how the patient experience is currently viewed […]

Patient Trend: Comparison Shopping

“Comparison shopping” is a term that’s often heard in conjunction with consumer goods and services, but it’s quickly making its way into the healthcare market. Up until recently, many consumers assumed that healthcare pricing was standardized—a procedure would cost the same no matter where they had it done and by whom. But, this isn’t the […]

Terry Niles Discusses How to Improve Patient Experience on Becker’s Hospital Review

It’s well known that a patient’s experience at your hospital can make or break their chances of returning‚—and loyal patient-base is critical for a healthy bottom line. Terry Niles, Budco Financial’s executive vice president, was recently featured in Becker’s Hospital Review discussing how hospitals can improve their patients’ experience. Her recommendation? Maximize customer care—go above and beyond to […]

Featured on Becker’s – “Improving the Bill-Paying Experience: The Key to Revenue Cycle Management”

Budco Financial’s EVP Terry Niles was recently featured in Becker’s Hospital Review. In her article she provides three ways that hospitals can improve revenue cycle management by taking a look at their patients’ bill-paying experience. The easier you make it for your patients to pay their bills, the faster your hospital will get paid. Plus, this dedication to your patients’ […]

Terry Niles at Becker’s Hospital Review: “It’s Important to Create the Ideal Patient Experience”

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