In recent years, healthcare costs have skyrocketed, and now patients owe more than ever before. High-deductible health plans have become increasingly popular, which has led to an increase in patient responsibility. With patients now a primary payer of their healthcare, there’s a significant need for a change in medical billing. Healthcare providers need to deliver better payment processes that align with patient expectations and requirements. To achieve this change, it’s essential to look directly at the patient survey data for insights.
Download this eBook to expose the medical billing disconnect and find patient insights to understand where change is needed.
The eBook dives into the patient survey data from the Trends in Healthcare Payments Annual Report, including:
The Negative Experiences for Patients and Their Medical Bills
While healthcare costs increased, the medical billing experience has not improved for patients. The negative experiences reported by patients included receiving unexpected bills and getting a bill for more than expected. Patients also reported being sent to collections and being confused on how to pay. When patients face challenges like these, providers will undoubtably have a harder time collecting the payments.
Traditional Medical Bills Add to the Poor Experience
The medical bill itself can be a challenge for patients. The frustration patients feel can come from receiving a bill a month after the service or receiving a statement without knowing how much was due. Other sources of poor billing experiences can include being sent to collections without ever receiving a statement. Additionally, patients may receive a paper bill without the option to receive an eStatement.
Medical Bills Cause Confusion for Patients
Put simply, medical bills are a way to communicate how much a patient owes and how they can pay. However, the majority of patients report being confused by their medical bills at least some of the time. This rate of confusion has held steady for patients in recent years of survey data collection. While medical bills are meant to be informative, often patients are left scratching their heads over them.
Price Transparency Remains a Mystery
Price transparency remains a hot topic of discussion in the healthcare industry. Overall, patients are usually in the dark about what they will have to pay.
According to trends in healthcare payments, not many patients know how much they owe at the time of service. In fact, many patients don’t find out they owe something until they receive their medical bill in the mail. Though patients don’t usually know how much they’ll owe before a visit, almost all patients surveyed said they wanted to know.
Empower Patients With More Payment Options
Generally, patients are consumers in their everyday lives who value and prioritize convenience. This is true in healthcare too, especially with medical bills. Patients surveyed said that going online to pay through a healthcare portal was how they wanted to pay. Very few patients wanted to pay their medical bill with a mailed paper check. When providers offer more convenient payment options, the data suggests that patients will want to pay this way and are more likely to pay their medical bills.
Want the data behind the medical billing disconnect with patients? Get the full insights in the eBook, Exposing the Medical Billing Disconnect With Patient Insights.