Friday, April 7, 2017

In an Era of Healthcare Consumerism, Revenue Cycle Management Companies Help Hospitals Stay Afloat

For the foreseeable future, the Affordable Care Act or ACA is here to stay. With its continued implementation, the law continues to change the healthcare landscape as Americans know it.

More specifically, the landmark law has spurred a change in the way patients look at—and acquire—healthcare services. According to a 2016 report by InstaMed, healthcare providers saw a 74% increase in patient financial responsibility.

Data shows that during the 2016 open enrollment period, 90% of the 12.7 million people who got coverage from the health exchanges got a high-deductible plan. Compared to 2006 figures, this represents a 225% increase in out-of-pocket expenditures during hospital trips.

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