May 2, 2022
Reducing Hospital Bad Debt through Patient Financial Advocacy
How hospitals and oncology centers can reduce bad debt through Patient Assistance Programs, Copay Cards and Foundations
The ultimate goal of a hospital or healthcare organization is to provide exceptional patient care; however, making a profit is necessary to achieve that goal.
According to a survey from Sage Growth Partners, a healthcare research firm, more than a third of hospitals rack up at least $10 million in bad debt each year, and half do not expect to recover more than 10% of it from payors or patient out-of-pocket expenses.
