In this feature article on the Trends in Healthcare Payments Eighth Annual Report: 2017, PatientEngagementHIT explores how patient billing is frustrating for patients, even as patients face increasing financial responsibility.
Read the full article, Patient Billing, Financial Responsibility Frustrates 70% of Patients, in PatientEngagementHIT. Below is an excerpt from the article.
Despite increasing patient financial responsibility and healthcare costs, the medical industry is still not leveraging the best strategies for assisting patient billing, according to a new survey from InstaMed.
The Trends in Healthcare Payments Eighth Annual Report: 2017 found that healthcare spending reached nearly $3.5 trillion in 2017, with patients paying more in premiums and out-of-pocket costs than ever before.
“The trends have clearly and overwhelmingly told us that consumers owe more for both medical services and health plan premiums,” the report noted. “Each year, the amount consumers owe is growing at a staggering rate, too.”