Almost half of patients report difficulties paying their deductibles, which exceed $2,000 for many. Even for insured patients, the costs of annual deductibles, copayments, coinsurance, prescription drugs and treatments not covered by insurance can be staggering. To compound the burden, almost two-thirds of U.S. households have less than $1,000 in savings.
To meet business goals and patients’ needs, providers must address payment barriers, including patient lack of awareness about their financial responsibilities and inflexible payment options. Offering a personalized patient financial experience can help people meet their financial obligations and increase timely payments.