Fewer than 20% of hospitals do anything to collect patient bad debt accounts except to “Set ‘em and Forget ‘em” with one or two primary collection agencies at about day 120. Unpaid patient accounts languish with contingency collection agencies indefinitely while hospitals recover only 10% of bad debt according to a Self-Pay study by HFMA… Read more »
Posts Tagged: HFMA
Healthcare Executives Site Financial Challenges as Top Issue; Bad Debt is #2 Financial Challenge
The American College of Healthcare Executives has released its annual report on the Top Issues Confronting Hospitals. The top five issues based on a survey of 350 organizations within their membership are: Financial Challenges Patient Safety and Quality Governmental Mandates Personnel Shortages Patient Satisfaction Within the financial challenges, the top five areas of concern include:… Read more »
Higher Deductibles, More Bad Debt
In recent years, the health care marketplace has seen many diverse changes in the nature of payments. One leading change is the increase in patient deductibles, which have grown dramatically during the last decade. With a larger portion of costs now on the insured patients, medical providers and hospitals have needed to adjust to these… Read more »
