The HIMSS Revenue Cycle Improvement Task Force is inquiring for case studies of sufferer financial experiences to make suggestions for improvements that will help contributors deal with the estimated 30% of bad debt that plagues health systems.
Consumer hopes to know their cost of care is growing, claimed Stuart Hanson, chairman of HIMSS Revenue Cycle Improvement Task Force, during HIMSS16.
The task force stated a sound revenue cycle process should concentrate on the patient first, Hanson said.
For example, customers are now used to getting texts when their retail order is shipped, but still have a hard time getting data from their doctor outside of office visits, he stated.
“The Obamacare conundrum,” Hanson claimed, is the high out-of-pocket costs made by Bronze plans of the Affordable Care Act marketplace. “If consumers cannot afford a better plan, how likely can they afford a $10,000 deductible?” Hanson stated.
In the year 2012, patient payments averaged 30% of provider revenue. A 2013 survey of contributors, doctors and hospitals reported a 75 to 150 day wait for payment, and 50% of patient obligations going unpaid. By the year 2019, write-offs will exceed $189 billion.
The billing experience is significant to overall patient satisfaction, with those 96% of fully satisfied clients saying they would return for future services, compared to 49% of the unsatisfied, in accordance to a study highlighted by Hanson.
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