Facing a medical problem is never easy. It is one of those experiences that most people would rather not have. Nobody likes to get sick or hospitalized for whatever reason, but it is something that we must go through especially if our life depended on it. Another reason why most people would rather stay out of the hospital is the medical bill that comes along with it. Aside from the financial cost, the hassle and stress of medical debt can be overwhelming.
Topics: hospital bill
When you have self-pay patients on your ledger, there are some ideas you need to keep in mind while awaiting payment. Some of the patients will pay on time and even early while others may take a longer time or not pay at all. How can you effectively resolve these types of accounts while maintain good standings and providing top care?
Whether it’s an emergency or a scheduled surgery or test, thousands of residents in Arkansas depend on the local hospitals to be there for them. They rely on the care and treatment they receive at any of the top-quality Arkansas hospitals available. While the hospitals strive to give the best care possible, it takes income and revenue to run the hospitals at peak efficiency. One of the concerns the hospitals have in increasing their revenue is when patients who desperately need care cannot pay for the services provided.
It used to be that people would pay for routine primary care out of pocket, saving their high deductible health insurance plan, if they had one, for emergency situations. While the ACA attempted to create a shift back to value-based care, flat-fee primary care suffered, particularly because of the requirement that everyone have health insurance (and flat-fee primary care is not viewed under the ACA as health insurance). With the recent election of President Trump, the future of healthcare has been uncertain. There are many doctors out there who believe that this type of healthcare can be successful. But how might it impact patients who pay out of pocket?
Topics: self-pay patient
Ever since the election of President Donald Trump in November, many people (both those who work in healthcare and those who receive it) have been expressing their concerns over one of Trump’s biggest promises: the repealing of the Affordable Care Act (ACA). Millions of Americans who were able to receive insurance coverage under the ACA are now frightened that they will, once again, be without. But patients are not the only ones who are worried. Hospital workers, too, especially those in rural areas, are worried about what's in store for their hospitals should the ACA be repealed.
There are over 150 hospitals in the state of Oklahoma. Every day, thousands of residents depend on these hospitals to get the care they need, whether it’s a simple test, an important medical procedure or an emergency situation. While Oklahoma patients rely on the hospitals in their state for quality, sometimes lifesaving, care, hospitals rely on their patients for the revenue to provide that care.
Sadly, many patients find themselves with an exorbitant medical bill following their visit, and are unable to pay, which, in turn, affects the hospitals’ ability to maintain and provide appropriate care. There are a few ways, however, that Oklahoma hospitals can improve on collections, helping them to continue serving their patients with the best care possible.
Topics: hospital revenue
Literacy is a vague term that means the ability to read, write, speak and do math. Being able to do these skills affects a person’s ability to access information and perform daily tasks. In the medical world, health literacy, or the ability to not only obtain but comprehend health information and services needed to make necessary health decisions, is crucial. Health literacy can be difficult to communicate to certain patients, specifically elderly patients, but, in order to reduce costs, being able to communicate it is a must.
Topics: Health Literacy,
With the rise of high deductible health insurance plans, and the amount of self-pay patients, many Americans across the country are faced with crippling medical debt. According to a study done in January 2016, 20% of uninsured patients had difficulty paying medical bills. Of that percentage, 13% stated that their debt was over $10,000. 11% of those having difficulty were forced to declare bankruptcy, with medical bills being their main reason for doing so. The Affordable Care Act had promised to reduce medical debt; however, premiums are rising and patients are still unable to pay for their care.
The new President has promised to undo the ACA, and try to get medical costs back under control, but what will be done remains to be seen. Despite the uncertain future, there are things that patients can do to avoid unnecessary medical debt.
Topics: medical bills
As President Donald Trump promised, he wasted no time in getting to work. Shortly after being sworn in, he signed an executive order involving the Affordable Care Act, a regulation he has been known to strongly oppose. The executive order doesn’t officially repeal the ACA, though many fear that he will completely eradicate it, but it does do something else. It gives the Department of Health and Human Services, as well as other agencies, the ability to stop enforcing certain parts of the ACA. Here’s what delaying ACA provisions could mean for medical organizations.
As a part of the shift toward value-based care, states have been instructed, under the ACA, to be more transparent when it comes to their costs. However, only seven states have succeeded so far in achieving passing grades when it comes to making pricing information readily available, despite most states having laws that require the lease of this information. Kansas is among the 43 states who failed, due to not collecting claims data from all patients or not making that information available through their websites.
Topics: revenue cycle