Healthcare Finance News August 17, 2022
The majority of bad debt now is associated with patients with insurance, contributing to the net revenue challenge for hospitals.
In art and photography, the “vanishing point” is the point at which two lines converge, meeting at the horizon line and suggesting three-dimensional space. In hospital revenue cycles, the vanishing point is $7,500.
That’s the dollar amount at which hospitals have great difficulty collecting patient balances, according to new findings from public accounting, consulting and technology firm Crowe. Beyond $7,500, collectibility drops off significantly.
Data through calendar year 2021 has uncovered some trends that place greater strains on providers’ ability to collect self-pay patient service revenue. And as sudden operational cost pressures – including nursing shortages and higher wages –...
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