A recent article by RevCycleIntelligence features insight from InstaMed’s CEO, Bill Marvin, and the Tenth Annual Trends in Healthcare Payments Report.
Read the full article, Patient Collections Takes Over a Month for Most Providers, in RevCycle Intelligence. Below is an excerpt from the article.
Patient collections takes more than a month for 74 percent of healthcare providers, according to the 10th edition of the Trends in Healthcare Payments Annual Report. The report released Tuesday by InstaMed, a J.P. Morgan company, found that collecting patient financial responsibility in a timely manner was especially challenging for large patient balances. Over three-quarters (78 percent) of surveyed providers said they cannot collect bills of more than $1,000 in 30 days.