With Insured Numbers Up, Debt Still Plagues Hospitals
The Affordable Care Act (ACA) has had a big impact on lowering the number of uninsured patients entering hospitals. Unfortunately, a lot of those patients are on plans that have very high deductibles.
Bloomberg reports that these high deductibles are leading to an increased amount of bad debt being accrued by hospitals. This is obviously bad news for everyone, but particularly for the hospitals that have to recoup the money they aren’t receiving.
The article says that rural hospitals are being hit particularly hard because of the high number of previously uninsured patients, as well as the lack of financial cushion to soften the blow.
With this in mind, hospitals need to focus on collecting amounts due well ahead of when the debt turns bad. If you’re interested in how HCM can help you collect on self-pay amounts—like those very high deductibles and co-pays—contact us today.