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 […]

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, […]

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’ […]

The Affordable Care Act May Be Fighting its Final Battle… Will it Affect You?

The healthcare industry has hit a critical point—and a majority of Americans don’t have any idea what’s potentially about to hit them. By the end of June, the Affordable Care Act, also known as Obamacare, may be turned upside down, potentially stripping 6.4 million people of health insurance subsidies in 34 states across the country. […]

Terry Niles at Becker’s Hospital Review: “Hospitals Can Shorten Revenue Cycles by Reducing Bad Debt”

The Affordable Care Act has changed the face of the healthcare insurance industry, making practical medical payment solutions for patients even more critical. But who do medical payment plans really benefit—the hospital or the patient? The answer is both. Instead of taking the familiar route to hiring a collection agency, hospitals can choose to offer […]

7 Ways to Improve Patient Retention and Generate Profits for Your Hospital

All of the changes in the healthcare industry have made retaining patients that much more important. Hospitals can no longer rely on the sheer volume of patients to generate profit. Although many hospitals and healthcare organizations remain focused on events that occur when a patient is physically in the hospital, some of the more successful […]