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A Look at Medicare Spending
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Filed under: Career Development, Ethics, Health Insurance, Risk Management | Tagged: CMS, Medical Provider Billing Facts, medicare, Medicare Provider Billing |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
2018 – Growing Bad-Debt Problem Illustrates Broken Billing System
Patient payment represents a growing share of health systems’ revenue, putting consumers and providers in a precarious position, a new report finds. Patient balances after insurance rose from 8% of the total bill responsibility in the first quarter of 2012 to 12.2% in the first quarter of 2017, according to new analysis from TransUnion Healthcare. Commercially insured patients saw their balance after insurance increase 67% from $467 to $781.
For Medicare beneficiaries, it increased from $144 to $314. Medicare bad debt, which is the result of beneficiaries not paying their deductibles and co-insurance, increased 17% to $3.69 billion in 2016, up from $3.14 billion in 2012, according to CMS data.
The TransUnion report recommended engaging patients about payment earlier, even before care, to gauge their coverage level and financial situation. Providers can work with consumers to set up payment plans or see if they qualify for their charity care program. Before writing it off as bad debt, see if patients qualify for commercial or public-payer coverage, the report said. Also, ensure prior authorization is in place before treatment.
Source: Modern Healthcare [6/27/18]
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