A recent blog post by VisitPay explore actions patients can take to alleviate high costs for medical care.
Editor's Note: This article originally appeared on VisitPay's website.
According to a new study published by Gallup, Americans borrowed $88 billion to pay for healthcare in the last twelve months. One in four Americans is skipping care due to cost, potentially fueling deeper debt down the road for untreated illnesses. This will only exacerbate an issue that is already out of control.
With rising care costs, higher deductibles and greater out-of-pocket balances, consumers are on the hook for a larger portion of their overall healthcare liability, accounting for 20-35% of an average health system’s revenue.
Looking more closely at how patients pay for medical care emphasizes grave shortcomings in the current system that are not sustainable long-term. Better solutions are needed to ensure payment plans are manageable, not optional. A great financial experience will keep patients satisfied and health systems paid. Click here to continue>>
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