4 Steps to Improve Self-Pay Collections

    By: InSight HQ on Sep 08, 2016

    We all know the risks associated with self-pay patient accounts. The cost to collect is up to three times higher than on commercial insurance accounts, and the longer a self-pay balance goes unpaid, the lower the probability you will ever collect. The reality is, these problems are here to stay because of rising health care costs and more high-deductible, consumer-driven health care insurance plans. It’s now common for hospitals to see patients with annual deductibles anywhere from $2,000 to $10,000 — quite a burden for many people. You’ve probably heard the statistic that nearly half of Americans couldn’t come up with $400 to pay for an emergency expense without borrowing money or selling something. Unfortunately, some people wouldn’t be able to get the money at all.

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    Released: September 8, 2016, 10:04 am
    Keywords: NewsLink

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