For any healthcare provider, keeping up with patient reimbursement is a constant challenge. High deductibles might seem like a good strategy initially, but they don’t always pay off in the end. Over the last few years, the total percentage of patient payments has increased significantly owing to the fact that more patients choose High Deductible Health Plans (HDHP). The results of a survey on healthcare payment patterns published by Forbes® revealed that about 35 percent of provider revenues come from patient payments, which may have strategically increased in the current times.
The key to ensuring your practice’s financial sustainability is the timely collection of patient payments. Besides staying on top of updates to the Affordable Care Act (ACA), Medicaid, and other healthcare programs, healthcare providers must also ensure that billing and tracking procedures are effective. Each patient payment collection challenge is unique due to the unique nature of each patient.
In this infographic, you will learn more about the current state of patient payment challenges and how you can improve your collection efforts.