DOTmed Home MRI Oncology Ultrasound Molecular Imaging X-Ray Cardiology Health IT Business Affairs
News Home Parts & Service Operating Room CT Women's Health Proton Therapy Endoscopy HTMs Mobile Imaging
SEARCH
Current Location:
>
> This Story

starstarstarstarstar (1)
Log in or Register to rate this News Story
Forward Printable StoryPrint Comment

 

 

Business Affairs Homepage

Why costs rise when physicians consolidate In one study, physician prices increased 14 percent after acquisitions

Will U.S. healthcare innovate or stagnate? Insights from Dr. John Halamka, CIO at Beth Israel Deaconess Medical Center

Wendy Siminski AdvaMed welcomes senior vice president for conferences and events

Three ways good ethics prevent radiologists from breaking the law Why better insight can help imaging professionals avoid unethical behavior

Retail holds key to understanding digital expectations for healthcare Bringing simple and reliable digital interactions to the patient experience

CIVCO Radiotherapy and Adaptiiv ink distribution deal Partnership will increase access to software that personalizes radiotherapy

BWXT to acquire Sotera Health’s Nordion medical isotope business $150M in capital expenditures expected this year

Four ways to attract prospective patients online Helping care seekers get from Google to your facility

With NVIDIA, Canon brings deep learning to its VNA Combining Abierto VNA data with DGX analytics

Physicians should be granted immunity to malpractice lawsuits, says study Recorded a 13 percent decline in adverse events over four years

More U.S. hospitals asking for pay before services

by Thomas Dworetzky , Contributing Reporter
Some U.S. hospitals are starting to talk money with patients as soon as they begin discussing treatment.

The reasons are varied, but arguably, one is the new high-deductible policies that force care-seekers to shell out thousands of dollars for medical therapies before insurance coverage kicks in.

Story Continues Below Advertisement

Source-Ray, Inc. - Innovations In Portable X-Ray

SRI is a leading Developer, Manufacturer & Supplier of Innovative Portable Imaging Equipment. We offer Lightweight, Agile, Easy to Maneuver Portable X-Ray Systems ideal for maneuvering in tight spaces. Call us at 631-244-8200



For example, the Henry County Health Center in Iowa gives potential patients an estimate of the cost of treatment at the same time as pre-surgical medical talks begin, according to Reuters.

“Most patients are appreciative that we’re telling them up front,” David Muhs, chief financial officer for the Henry County hospital, told the wire service.

There is even a discount if you pay in advance.

Treating patients with insurance, but who don't pay their bills, is one of the unforeseen consequences of some of the implementations of the Affordable Care Act of 2010. The raft of high-deductible policies that satisfy the law often leave patients facing catastrophic deductibles they can't pay.

Interviews conducted by Reuters with dozens of professionals and institutions revealed that many now demand payment ahead of “scheduled care,” or offer zero interest loans.

At issue is the fact that many now choose the lowest payments, which naturally leads to the choice of high-deductible policies. The gamble only pays off if you don't get sick.

Beyond that, President Donald Trump and Republicans are generally supportive of such high-deductible plans, choosing the appearance that this cuts health care spending by making individuals “more responsible” and more responsive to the real costs of care, over the reality – that many put off care until they are sicker and treatment is more expensive, they can't or don't pay their bills, and the hospitals are left with a growing pile of bad debt.

For example, HCA Holdings reported a fourth-quarter bad-debt-to-gross-revenue ratio of 7.5 percent in 2016.

North Carolina-headquartered Novant Health saw this high-deductible trend hitting, and began testing new payment approaches. “To remain financially stable, we had to do something,” said April York, senior director of patient finance at Novant, whose patient default rate dropped to 12 percent from 32 percent after it started offering no interest loans through ClearBalance.

“Patients needed longer to pay. They needed a variety of options,” she said.

How bad is the problem? A recent Kaiser Family Foundation poll found that fully 45 percent of Americans could not pay a sudden $500 medical bill. And the average deductible for the cheapest ACA health plan is $6,000 for an individual, up 18 percent since 2014.
  Pages: 1 - 2 >>

Business Affairs Homepage


You Must Be Logged In To Post A Comment

Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Central
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2018 DOTmed.com, Inc.
ALL RIGHTS RESERVED