Medical debt has grown so widespread in America that it has become a defining feature of our nation’s healthcare system.
More than 100 million Americans, or about 41% of the population, are facing medical debts they cannot pay, according to an analysis by Kaiser Health News. A quarter of those with debt owe more than $5,000, and nearly as many with any amount of debt don’t expect to pay it off in their lifetimes.
Although multi-factored problems such as growing medical debt require numerous approaches to solve, the ability to deliver greater healthcare price transparency to patients is one immediate step providers can take to help ease the issue.
Providers who can distinguish themselves from their peers by delivering a superior, more price transparent, retail-like consumer experience have the potential to drive greater patient satisfaction and higher patient volumes.
In our eBook “Viewpoints: Improving the Patient Payment Journey with Transparency and Engagement,” TrustCommerce’s healthcare payments experts share their insights on consumer debt, its impacts, and what providers can do to help patients overcome many of the traditional barriers to timely medical bill payments.
TrustCommerce thought leaders examine several top-of-mind issues for providers, including:
- Why unaffordable medical bills are a social determinant of health
- What digital engagement tools providers can adopt to mitigate rising consumer debt
- How providers can add price transparency in healthcare to the patient journey
Download the free TrustCommerce eBook, “Viewpoints: Improving the Patient Payment Journey with Transparency and Engagement” or connect with us to discuss a better payment experience for your patients.