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5 tips for practices dealing with high-deductible health plans
Key Takeaways
- High-deductible healthcare plans lead to significant patient payment responsibilities, especially in the first quarter.
- "Deductible season" causes stress for both patients and healthcare providers due to delayed or missed payments.
High-deductible health plans can create billing problems, especially early in the year before most patient deductibles have been met. Here are some ideas on how to help your practice cope.
A recent analysis by Inbox Health indicates that 50% of health care practices bill the highest dollar amount of their patients’ total annual accounts receivable in the first quarter of the year.
According to Blake Walker, CEO of Inbox Health: “This statistic clearly delineates the staggering payment responsibility placed on patients by the modern structure of high-deductible healthcare plans (HDHP). As Inbox Health data shows, both patients and practices feel the biggest impact in the first quarter of the year – what we like to refer to as deductible season. This places enormous stress not only on patients, but also on healthcare providers who are troubled by delayed or missed payments.”
Here are 5 tips on how practices can cope with this challenge:
