In the last couple months, I hosted two popular webinars to present information on the cost of uncompensated care – the sum of a hospital’s bad debt and charity care – which has been steeply rising since 2000. In each session I polled the audience to see which aspect of uncompensated care concerned them most.
Both webinars yielded similar results, but I’ll share with you the stats from the most recent presentation.
53% of attendees selected ‘Patient balance after insurance’, followed by 28% who chose ‘Failing to identify patient eligibility’ and 19% who were most concerned about uncompensated care associated with ‘New 501(r) charity guidelines’.
The responses were not surprising considering the American Hospital Association (AHA) states uncompensated care cost U.S. hospitals a total of $45.9 billion in 2012 and accounts for 6.1% of total expenses.
Despite hospitals’ internal processes, numerous cases cannot be verified for insurance and are relegated to self-pay or uncollectable status when no insurance coverage can be verified. Many of the reasons for unverifiable insurance coverage are beyond the hospital’s control.
To learn what hundreds of hospitals are doing to capture the lost dollar and to find out how you can help reduce your uncompensated care and improve internal processes, click here to watch the video.
In case you missed it, now is your chance to find out why so many cases fall into Charity Care or Bad Debt, hear what other hospitals are doing to reduce uncompensated care, learn how to get information to battle this issue, and discover ways to improve internal processes. Webinar access is free for a limited time.
TransUnion Healthcare is a division of TransUnion, a global information solutions company that serves both businesses and consumers in 33 countries. Since its inception 12 years ago, TransUnion Healthcare has focused primarily on revenue cycle management and on maximizing reimbursement and cash flow in healthcare organizations.
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