It is almost 2020, which means a new cycle of patient delinquency for most health care organizations. As the calendar resets, so too do the health plans of most U.S. households, leaving them with an enormous financial responsibility—their annual health plan deductible. For many families, this deductible makes medical care financially unviable and forces them to delay or completely forego making payments to providers or seeking care at all.
Optimal patient health is the collective goal of the healthcare industry, but in order to provide high-quality care that keeps patients healthy, providers need to be fiscally healthy themselves. Good patient financial management is a crucial part of this health: Keeping revenue high while strong patient relationships.