Out-of-Pocket Healthcare Spending

Patient Access to Care Stymied Amid COVID-19 Funding Debate

by Sara Heath

Patient access to care for COVID-19 hangs in the balance as Congress mulls over extending federal funding for testing and treatment services, according to a recent Kaiser Family Foundation brief...

Out-of-Pocket Prescription Drug Cost Burden Begets Health Disparities

by Sara Heath

Out-of-pocket prescription drug costs are a problem for nearly 5 million Medicare beneficiaries, but are especially pressing for Black and Latino people, revealing key racial health disparities in...

DMV More Popular than Patient Financial Experience for Fifth of Patients

by Sara Heath

One in five patients would rather go to the DMV than attempt to pay their medical bills online, demonstrating a serious lapse in digital patient financial experience, according to new data from...

More Patients Cite Out-of-Pocket Costs as Care Access Barrier

by Sara Heath

Three in 10 Americans are citing high out-of-pocket patient costs as a care access barrier, with those patients telling a West Health and Gallup poll that they skipped necessary medical care in the...

90% of Patients Say Loyalty Relies on Patient Financial Experience

by Sara Heath

The patient financial experience and billing process is a make-or-break moment, with 93 percent of healthcare consumers saying the billing experience could dissuade them from returning to a healthcare...

Rising Prices Led to Higher Patient Healthcare Costs

by Victoria Bailey

Despite a decline in healthcare utilization, patient healthcare costs and out-of-pocket spending has increased for individuals on employer-sponsored health plans due to high prices, according to the...

Patient Out-of-Pocket Healthcare Costs Balloon by 10% Since 2020

by Sara Heath

Patient out-of-pocket healthcare costs are up 10 percent since last year, with the net total of patient financial responsibility coming in around $491 billion in 2021, according to Kalorama...

93% of Patients Negotiate Out-of-Pocket Patient Costs, Debt Away

by Sara Heath

More than half of Americans have been in medical debt, but according to new data from LendingTree and Qualtrics, the vast majority of those who have negotiated that debt have seen it go away, a key...

What Is Patient Financial Health Literacy, Why Is It Important?

by Sara Heath

As medical organizations face competing demands for increasing patient collections and creating a good patient financial experience, they must focus on patient financial health literacy. Financial...

Patients Unprepared for Out-of-Pocket Costs for Long-Term Care

by Sara Heath

Patients underestimate the financial responsibility associated with beginning long-term care, with many leaving themselves unprepared for the high out-of-pocket costs at long-term care facilities,...

Top Challenges to Collecting Patient Financial Responsibility

by Sara Heath

Collecting patient financial responsibility is a key aspect of the patient encounter with healthcare revenue cycle. Healthcare organizations strive to create a clear and simple mechanism for collecting...

How Out-of-Pocket Costs Affect Patient Healthcare Access

by Sara Heath

Patients are increasingly facing high out-of-pocket costs, a trend that can limit their healthcare access and ability to pay for quality services. It is important for providers to understand how high...

How Healthcare Orgs Can Manage Patient Financial Responsibility

by Sara Heath

Out-of-pocket patient financial responsibility has increased by 10 percent over the past five years, shows a survey from the Healthcare Financial Management Association (HFMA), leading to frustrations...