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.
Suvarnna Babu is a B2B content marketer and Digital Marketer at expEDIum, where she specializes in writing healthcare tech blogs that simplify complex RCM and EHR concepts for providers and billing professionals. With a background in English Literature and hands-on experience in SEO, email marketing, and paid ads, she creates content strategies that align with business goals and resonate with real-world users.