In recent years, reports like Becker’s ASC Review have noted that healthcare costs, including out-of-pocket maximums and deductibles, have climbed nearly 30 percent. These rising costs have created challenges for both healthcare providers and patients.
On the provider side, revenue cycle management becomes the main issue. The same article noted that 82 percent of healthcare providers and 92 percent of hospitals have seen their profit margins shrink using traditional collection methods. And on the patient side? With more of the financial burden of healthcare on their shoulders, consumers aren’t willing to shrug off poor experiences — from how appointments are made to how patient payments are handled.Read More