ClearBalance Blog

Redefining Patient Responsibility for a New Era

Excerpted from HFM Magazine As patients assume responsibility for a growing proportion of their healthcare costs, providers face a financial burden from having to write off costs for patients who cannot afford to pay their share. Providers can benefit from developing programs to alleviate this burden. In 2013, more than 60 percent of the financial burden at ...
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Revenue Cycle: Cost Center or Strategic Asset?

Article originally written by Lola Butcher Traditionally, most health systems have viewed the revenue cycle as a cost center, evaluating success based on the ability to minimize costs. That approach may limit technology investments and staff that can make a financial impact on revenue cycle functions. “Healthcare executives, especially finance executives, really need to start thinking about ...
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In Waning Days of 2015 … Congress Pushes for Delay in Cadillac Tax

Lawmakers’ recent delay to adopt the Affordable Care Act’s Cadillac tax gives Congress time to make adjustments to the regulation. In the election year, healthcare once again will factor heavily into campaign rhetoric. The delay, from 2018 to 2020, was included in a year-end tax and spending package that also makes the tax deductible for employers ...
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Patient Loan Programs Have Changed for the Better

By Mitch Patridge At least one in six healthcare providers offer their community a patient loan program. And, with the continued increase in high deductible plans, more providers are implementing patient friendly loan programs. Usage is expected to surge by as much as 50% this year. However, the industry’s reputation still suffers from the poorly constructed loan ...
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Overcoming the Patient Pay Problem Requires Patient Engagement

Dec. 16, 2014  Health insurance coverage alone is not indicative of patients’ ability to pay their medical bills. As consumers increasingly gravitate toward high-deductible health plans (HDHPs) because of the low premiums, many still cannot afford the high deductibles, thus creating greater amounts of bad debt. Providers are revisiting collection efforts, hoping to engage patients and ...
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ClearBalance Lending Up; Financing Fills Need in Hospital Billing

FINANCING: Patients With High Deductibles Often Use the Service By Meghana Keshavan Monday, September 9, 2013 The number of patient loans made by San Diego-based lender ClearBalance Inc. has grown 76 percent from last year as the number high-deductible health insurance plans increases. With high deductibles come high costs to patients, who can’t always afford to pay $2,000 or ...
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High Deductible Health Plans, Gamble for Some, On the Rise

Near the end of last year, a big finance company in Charlotte, N.C., was doing what a lot of other businesses have been doing recently: switching up their health care offerings. “Everything was changing, and we would only be offered two choices and each were a high-deductible plan,” says Marty Metzl, whose husband works for the ...
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KHN: Hospital bad debt climbs as coverage costs are shifted onto workers

19% of employer-covered workers were enrolled in high-deductible plans last year August 13, 2013 The rise of high-deductible health plans has left many patients unable to pay their full medical bills, causing bad debt levels to climb at some hospitals, Kaiser Health News‘ “Capsules” blog reports. The Financial Leadership Council’s Sarah Gabriel explains how to make affordable financing ...
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Improving the Overall Experience Begins Even before a Patient Enters a Hospital’s Front Door

A recent article in the Los Angeles Times underscores the intensified focus that healthcare providers are placing on optimizing the patient experience, particularly as federal payments to hospitals become tied to patient satisfaction scores. According to the LA Times July 21 article, “Under the national healthcare overhaul, patient experiences matter. Federal payments are being tied to surveys that ...
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Impact of Supreme Court Ruling: Healthcare Deductibles, Co-Pays May Skyrocket

As the U.S. Supreme Court voted 5 to 4 to uphold the Patient Protection and Affordable Care Act of 2010, millions more Americans will now be required to either purchase insurance or face a tax penalty. And, many employers also will face fines if they don’t offer coverage for their workers. Seeking an affordable solution, more ...
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