Healthcare IT Today features InstaMed’s Ninth Annual Trends in Healthcare Payments Report.
Read the full article, Medical Practice Bills Still Confusing To Patients, Which May Undercut Collections, in Healthcare IT Today. Below is an excerpt from the article.
Here’s some news that isn’t news, really: patients aren’t thrilled with how medical billing works. They want clear billing statements which don’t come laden with scary surprises, but their wishes are seldom granted, according to a recent survey by payments network InstaMed.
According to the survey, which profiles trends in healthcare payments during 2018, 70% of consumers reported being confused by medical bills, and 93% were surprised by a medical bill during 2018. InstaMed also found that 56% of consumer respondents wouldn’t be able to pay a $1,000+ medical bill, which should raise some red flags given that 69% of providers saw an increase in patient financial responsibility in 2018 compared to 2017.