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Tools for Paying Medical Bills Don’t Help Health Consumers Manage Their Financial Health

Health Populi

There’s a gap between the supply of digital health tools that hospitals and health systems offer patients, and what patients-as-consumers need for overall health and wellbeing. This chasm is illustrated in The future of the digital patient experience , the latest report from HIMSS and the Center for Connected Medicine (CCM).

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The Patient as Consumer and Payer – A Focus on Financial Stress and Wellbeing

Health Populi

Add on top of these significant stressors the need to deal with medical bills, which is another source of stress for millions of patients in America. The American Psychological Association study I cited in that post from 2020 found that financial stress was indeed contributing to Americans’ sense of anxiety and depression.

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In the U.S., Patients Consider Costs and Insurance Essential to Their Overall Health Experience

Health Populi

For mainstream Americans, “the math doesn’t add up” for paying medical bills out of median household budgets, based on the calculations in the 2019 VisitPay Report. With high health spending and lower life expectancy dollar for dollar, financial and health in-security will surely be voters’ priorities in 2020.

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The Latest KFF Poll on Consumer Experiences with Health Insurance Speaks Volumes About Patients’ Administrative Burden

Health Populi

are now delaying care is due to cost , not concerns about exposure to COVID-19 which created the phenomenon of “medical distancing” between 2020 and 2022, resulting in some patients avoiding preventive screenings and necessary care in face-to-face medical settings. “If The top reason people in the U.S.

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2022 Patient Payment Statistics and Bad Debt in Healthcare

Mend

According to the same statistics, approximately one in five American households has “bad medical debt.” These numbers are concerning, as they indicate that many Americans are struggling to keep up with their medical bills. How Many Healthcare Organizations Still Rely on Paper Bills.

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Jasper, Scaling a Human Touch for People Dealing with Cancer, Now With Walgreens

Health Populi

And they have helped people co-create health outcomes as quantified in the cancer care experience slide shown here. Individuals and their families are overwhelmed with the information, tasks, steep medical bills and the ‘unknown’ that cancer brings and are trying to manage everything with limited to no support.

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The Patient As the Payer: Self-Pay, Bad Debt, and the Erosion of Hospital Finances

Health Populi

The first chart quantifies that bad debt attributable to patients’ self-pay payments after insurance kicks in: that category of bad debt grew by five times between 2018 and 2021, from 11% to nearly 58%. Collection rates for the bad debt fell from 76% in 2020 to 55% in just the one year from 2020 to 2021, a drop of nearly one-third.

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