November 10, 2022
A Case Study: Can a Patient Financing Program Have a Positive Impact for Rural Healthcare Providers?
In an era of high-deductible health plans, even insured patients may have a hard time meeting their financial obligations. Both traditional self-pay patients and insured patients with large out-of-pocket balances risk going into bad debt if they do not have patient-friendly options for paying their medical bills. Healthcare providers have had success by engaging with a partner to offer flexible low or no-interest payment plans that give patients options that meet their current needs and help reduce the financial stress that medical expenses often create. Join this session and hear how Tahoe Forest Hospital District and Cameron Memorial Community Hospital successfully leveraged services.
- Demonstrate the potential of vendor-assisted patient financing to provide your organization with the following:
- Consistent levels of incremental cash collections
- Reduced administrative costs
- Staffing flexibility – reassignment of staff to other revenue tasks (i.e., Insurance follow-up)
- Reduction of accounts receivable levels
- Decreased Bad Debt Levels and Reserve Requirements
- Increased patient engagement / satisfaction scores