About a Quarter of Residents in 18 States Have Medical Debt
Medical debt is a problem for Americans, with as many as a quarter of residents in 18 states having medical debt in collections, according to a new Commonwealth Fund report. The states with the...Healthcare Costs for Average Family Exceed $31K
Healthcare costs for Americans are climbing higher once again following slower growth and even a rare decrease during the COVID-19 pandemic, according to the latest Milliman Medical Index (MMI)...CFPB Report Identifies Pitfalls of Medical Credit Cards, Loans
In the age of high deductibles, providers are increasingly turning to financial institutions and fintech companies to offer medical credit cards and installment loans to their patients. However, a new...Major Credit Bureaus Remove Medical Debt Collections Under $500
Three major credit bureaus are giving consumers a break when it comes to medical debt. Equifax, Experian, and TransUnion jointly announced yesterday that any medical debt collection with an initial...61% of Providers Plan to Outsource Revenue Cycle Management Tasks
As staffing shortages and financial challenges persist, healthcare providers are increasingly considering outsourcing revenue cycle management processes, according to a study from CWH Advisors and...Two-Thirds of Patients Have Never Challenged a Medical Bill’s Accuracy
Nearly two-thirds of patients have never challenged a medical bill, but among those who have, most charges were reduced or removed, according to a survey conducted by AKASA on behalf of YouGov. The...Past-Due Medical Debt Impacts Over 1 in 7 Adults
More than one in seven nonelderly adults live in families with past-due medical debt, according to the Urban Institute in a new report. The report also finds that medical debt particularly impacts...MEDITECH Leads Patient Accounting Vendors for Small Hospitals
According to a new KLAS report, small hospitals are changing out their EHR and patient accounting systems more often than their larger peers. Many of these small hospitals are considering top EHR...Consumers are Frustrated with Healthcare Billing Correction Process
Consumers are frustrated with the healthcare billing process and face challenges when it comes to identifying and solving billing errors, according to a survey from Zelis and Hanover Research. The...Medical Bills Are Confusing for Nearly 40% of Adults, Survey Finds
Almost 40 percent of Americans are confused by their medical bills, with many feeling uncertain about what they are being billed for or if they will be able to pay, according to a survey conducted by...How EHR-RCM Integration Can Improve Revenue Cycle Efficiency
Leveraging automation for revenue cycle management (RCM) processes can streamline tasks and improve efficiencies. Specifically, partnering with an EHR vendor helped Advocare, an independent physician-owned group practice, achieve $1...Patient Payment Solutions Not Living Up to Provider Expectations
Most providers have seen an implementation of a patient payment solution over the past five years. However, 30 percent felt the implementations were not successful and only 58 percent reported high...NY Gov. Signs Legislation Prohibiting Property Liens Over Medical Debt
New York Governor Kathy Hochul has signed legislation aiming to protect patients with medical debt from facing wage garnishment or liens on their property. “No one should face the threat of...Connecting Payers, Providers, and Tech for a Better Patient Financial Experience
The patient financial journey can be lengthy and confusing for consumers following a healthcare encounter, making it a critical area of improvement for providers and their revenue cycle management teams. Streamlining the patient financial...Aggressive Medical Debt Collection, Other Proposed Never Events
Hospitals work hard to avoid “never events,” or serious, largely preventable, and harmful events identified by the National Quality Forum (NQF). These never events include performing...OR Nonprofits Impede Patient Access to Financial Assistance Programs
Oregon nonprofit health systems are failing to comply with state laws and engaging in practices that make it difficult for patients to access financial assistance programs and avoid medical debt, a...Consumers are Unaware of Available Financial Assistance for Medical Bills
Almost two-thirds of consumers do not know if their physicians or hospitals offer financial resources such as payment plans or financial assistance programs to help cover medical bills, according to a...Why Text-to-Pay is a Key Resource in the Patient Collections Toolbox
The revenue cycle management department at MainStreet Family Care in Alabama has a mission, and that is to give patients every opportunity to pay their financial responsibility. “We give the patient every opportunity that we can and...Sponsored by BridgeMed
