Health Populi September 13, 2022
“The odds are against hospitals collecting patient balances greater than $7,500,” the report analyzing Hospital collection rates for self-pay patient accounts from Crowe concludes.
Crowe benchmarked data from 1,600 hospitals and over 100,00 physicians in the U.S. to reveal trends on health care providers’ ability to collect patient service revenue.
And bad debt — write-offs that come out of uncollected patient bill balances after “significant collection efforts” by hospitals and doctors — is challenging their already-thin or negative financial margins.
The first chart quantifies that bad debt attributable to patients’ self-pay payments after insurance kicks in: that category of bad debt grew by five times between 2018 and 2021, from 11% to nearly 58%.
Collection rates for the bad debt...
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