According to the NaviNet survey, 49 percent of providers said they do not have the ability to calculate patients’ financial responsibility, beyond co-payment, until after claims are submitted and processed. Additionally, 31 percent of providers said they lose revenue due to uncollected patient payments.
The survey also showed that nearly 20 percent of physicians do not accept credit or debit cards, and of the more than 80 percent of physicians that do accept credit and debit cards, 87 percent only accept these cards for their patients’ co-payments.
Recent information from industry organizations shows that inability for providers to estimate, calculate and collect at time of care is likely to cause cash flow problems that will only increase over time. The probability that a provider will collect the full amount of a patient’s payment drops significantly, to less than 20 percent, after care is provided, according to a report by the National Association of Healthcare Access Management. As a result, more physicians may seek full payment, if it can be determined, before service is provided.
Read the NaviNet release on the healthcare provider survey.
