Insights on Today's Healthcare Consumer

Why Some Patients Don’t Pay Their Bills — and How Psychographic Segmentation Can Help

Posted by Brent Walker on Tue, Feb 19, 2019

Nearly 43 million Americans face medical debt­, but are they all uninsured? Not quite. One in five patients with health insurance admit that medical bills put a strain on their finances. This data is close to what c2b solutions’ market research study illustrates with 27 percent of the general population agreeing with the statement “I have a hard time paying my healthcare bills”.

These aren’t the sickest patients either. Nearly 70 percent of patients struggle to pay off hospital bills of $500 or less within a year and the challenge isn’t going away. The Centers for Medicare & Medicaid Services projects national health spending will grow by 5.5 percent annually for the foreseeable future, reaching a staggering $5.7 trillion by 2026. But by using psychographic segmentation to gain insights on healthcare consumers, hospitals can boost patient payment collections even as healthcare costs continue to grow.

 

Read More

Tags: Psychographic Segmentation, Automated Payment Reminders, Revenue Cycle Management, patient payment collections, amplify engagement

Why Psychographics are Key to Solving Open Enrollment Challenges

Posted by Brent Walker on Tue, Oct 30, 2018

The Centers for Medicare and Medicaid Services (CMS) announced steady enrollment through the Federal Health Insurance Exchange for 2019, with 8.4 million people selecting or automatically re-enrolling in plans by the close of the open enrollment period. Final numbers are expected to rise when the CMS releases additional data on enrollments through State-based exchanges. But if past years are any indication, approximately 10 percent of those consumers will lose coverage by failing to pay their premiums. How can insurance companies address this crucial revenue cycle management issue?

Read More

Tags: Psychographic Segmentation, Automated Payment Reminders, Revenue Cycle Management, patient payment collections

Psychographic
Segmentation and the
Health Care Consumer

psychographic-book
Download →
A HEALTHCARE MARKETERS WHITEPAPER

Subscribe via Email

Most Popular Posts

Latest Posts

Posts Categories

see all

  See Me Speak at: BRG Healthcare Leadership Conference