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

Health Populi

People love being health-insured, but their negative experiences with health plans create serious burdens on patients-as-consumers. The 2023 Kaiser Family Foundation Survey of Consumer Experiences with Health Insurance updates our understanding of and empathy for insured peoples’ Patient Administrative Burdens (PAB).

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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. Most Americans want government to do more to help them, the OECD survey found. Given a $60K median U.S. VisitPay conducted a poll among 1,734 U.S.

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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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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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The 2023 Health Economy – The Evolving Primary Care and Retail Health Convergence Through Trilliant Health’s Lens

Health Populi

One contributor to lackluster return-to-healthcare volumes is patients’ forgoing care due to cost — which Trilliant Health points out has overtaken COVID-19 concerns as the key driver for avoiding medical care services. adults saying inflation has made it harder to pay medical bills.