High-deductible health plans, ACA forcing patient payment innovations
par David Dennis, Contributing Reporter | September 06, 2016
From the September 2016 issue of HealthCare Business News magazine
The primary goal of these solutions is to engage patients differently and increase cash collection from patients while reducing fees paid to collection companies. In addition, these solutions help acculturate patients to the new realities of high-deductible health care. Eventually, pre-service plan options will be able to provide clear estimates of costs for upcoming procedures, allowing patients to sign up for plans in advance, thereby saving them the anxiety caused by out-of-pocket surprises.
When deductibles ran $100 to $500, insured Americans were generally comfortable with medical-related visits and procedures. In the new health care economy, however, fear is taking its toll as deductibles extend to $1,000 and even $5,000 — beyond the liquid assets of average personal and family budgets at most income levels. Health care providers need to adjust to this new reality by providing the automated payment plans, full online billing and advanced payment processing that consumers have come to expect from other service-providing industries.
About the author: David Dennis is a freelance journalist who specializes in health care industry financial and regulatory issues.
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The primary goal of these solutions is to engage patients differently and increase cash collection from patients while reducing fees paid to collection companies. In addition, these solutions help acculturate patients to the new realities of high-deductible health care. Eventually, pre-service plan options will be able to provide clear estimates of costs for upcoming procedures, allowing patients to sign up for plans in advance, thereby saving them the anxiety caused by out-of-pocket surprises.
When deductibles ran $100 to $500, insured Americans were generally comfortable with medical-related visits and procedures. In the new health care economy, however, fear is taking its toll as deductibles extend to $1,000 and even $5,000 — beyond the liquid assets of average personal and family budgets at most income levels. Health care providers need to adjust to this new reality by providing the automated payment plans, full online billing and advanced payment processing that consumers have come to expect from other service-providing industries.
About the author: David Dennis is a freelance journalist who specializes in health care industry financial and regulatory issues.
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