Health insurance deductibles up 40 percent since 2010

People with work-based health insurance are paying much bigger deductibles than they used to.

Those with single coverage are paying an average deductible this year of $1,318, up some 40 percent since 2010, when the total was $917, according to national data released Tuesday.

Patients will continue to pay more out of pocket for healthcare over the next several years. Even Medicare will cover fewer services and pass more expense to the patient.

It is time for healthcare to embrace being UpFront with patients about costs, so patients can make informed decisions and healthcare organizations to work through payment options prior to the surprise medical bill.

To read more about this article, click here:

http://www.startribune.com/kaiser-study-average-deductibles-up-40-percent-in-past-five-years/328664941/

Collecting from patients is not a new issue! Says MGMA

The April 2010 issue of MGMA Connextion describes some of the major problems facing healthcare organizations today, but which are even getting worse. Here are some of the highlights:

• Providers collect 25% of their revenues from patients directly.
• 60% of the providers reported that it was extremely difficult collecting from patients after the services were provided.
• Providers send out 3.3 billing statements before they are paid.
• They recover only $15.77 for every $100 owed.

Providers are often reluctant to address past due payments because of long term relationships and belief it is unprofessional.

The article provides 17 recommendations from “peer healthcare providers”. These include:

• Provide payment options including credit cards.
• Set up on line billing payments.
• Encourage patients to pay current balances and charges at the time when services are provided.
• Send out invoices as soon as possible after the services or procedures are provided
• Train staff to firmly but gently communicate about payments due.
• Be willing to refuse service to patients who will not abide by the financial policies.
• Replace collection letters with personal collection phone calls.

Of course you need Enablemyhealth to automate all these recommendations in one easy to use solutions. Enablemyhealth will enhance your cash flow and improve patient satisfaction. 

Read more of the article:

http://www.mgma.com/Libraries/Assets/Practice%20Resources/Publications/MGMA%20Connexion/2010/Perspective-on-patient-payments-MGMA-Connexion-April-2010.pdf