A recent survey gives a glimpse into how difficult it has become for providers to collect money not only from uninsured patients, but also from balance-after-insurance patients as well. The survey, conducted by the Delaware Valley Healthcare Council, showed that for patients with coverage, bad debt has increased by a staggering 28%.
Factors contributing to this growing problem are the rapid growth of co-pays and health plans with higher deductibles and lower premiums. These health plans often leave patients unable to pay their balance, particularly after encountering a medical emergency.
However, there is a solution that benefits providers and patients.
Implementing the ClearBalance patient friendly bank loan program will help to alleviate these pressures. In fact, the ClearBalance patient loan program gives patients an affordable interest-free or below market interest rate bank loan to “clear their self-pay balance,” over time, while increasing your cash flow and, importantly, reducing bad debt. Since 1992, CSI has provided bank loans to more than 604,000 patients nationwide with a 99% patient satisfaction rate.
- Meeting with the People: ClearBalance and Novant Health Partner for the Greater Charlotte Health & Fitness Expo