Hospitals need to understand the role of patient financing
from MedCity News
The latest data shows that healthcare bankruptcy filings have more than tripled in 2017. This isn't entirely surprising since 68 percent of patients failed to fully pay off medical bill balances in 2016, up from 53 percent in 2015, which is expected to climb to 95 percent by 2020. The good news is that consumers and providers certainly agree on this issue — we need smarter, more compassionate financing options. It can get confusing, however, to understand the difference between credit cards, promise-to-pay programs and opt-in, long-term financing.
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