Best Patient Billing & Payment Products
Best Patient Billing & Payment Products
Total revenue attributed to patient responsibility increased by 88% from 2012 to 2017.
As patients are held responsible for an increasing portion of their healthcare bills, health systems are seeing a rise in administrative expense related to collections and an increase in bad debt. On average, providers only collect 40% of revenue due from patients. As the percentage of health system revenue attributable to patients grows, health system margins are at risk if they are unable to manage patient receivables appropriately.
Health systems can leverage digital in patient billing & payment to lower the cost to collect and increase overall collections, while also improving the patient financial experience.
