ClearBalance Blog

High-Deductible Health Plans = Growing Self-Pay Receivables, Healthcare Providers Look to Help Patients Contend with Out-of-Pocket Expenses

Aug. 14, 2012 — Findings from a July 2012 survey conducted by Deloitte Center for Health Solutions indicate that employers will increase the use of co-pays, deductibles and increased premium participation to manage rising healthcare costs. In fact, more than half of the employers surveyed by Deloitte said they plan to introduce high-deductible health plans within the next three to five years.

As high-deductible health plans grow in popularity, healthcare providers will be contending with skyrocketing self-pay balances which many patients will find difficult to pay .

As one senior healthcare executive puts it: “We have found that people inherently want to pay their bills, but they need a reasonable method to do so.”

Or, as another executive says, “A bad debt account should be that patient who simply refuses to pay you, not someone who just needs an affordable repayment option.”

To contend with larger balance-after-insurance accounts, healthcare providers typically offer internal payment plans as an alternative; however, patients often need longer repayment terms than available through the provider. To compound the issue, when it comes to paying their bills, consumers generally make healthcare bills a lower priority.

There is, however, a solution. CSI Financial Services’ ClearBalance® is a patient-friendly program designed to immediately pay the provider, yet give patients up to 72 months to pay their balance.

Not only will implementing ClearBalance increase patient satisfaction, but the program will also increase self-pay collection rates by a minimum of 20%compared to internally managed payment plans.

For more information, please call ClearBalance at 858-200-9208.