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 and growing problem.
When patients can’t pay their bills, healthcare providers end up taking on the financial burden, causing financial disarray to a point where some healthcare facilities have been forced to close. What’s more, this growing financial pressure on both patients and providers is driving down patient satisfaction.
Patients can’t afford the care, hospitals aren’t collecting and healthcare systems are failing to deliver a positive patient experience. So how can healthcare providers combat these issues?
Read our Healthcare Whitepaper below to further explore financial distress in the healthcare community, the statistics behind it and the strategies that can help providers reduce debt and improve the patient experience.