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April 21, 2016

Hospitals’ Cash Flow Crisis, UnitedHealth and more in CarePayment’s News You Can Use

By CarePayment

Hospitals Face Likely Cash Flow Crisis as Patient Self-Pay IncreasesHOSPITAL CASH FLOW CRISIS

A recent study found patient payments will grow at a rate of ten percent from 2015 to 2016, according to Health Data Management. The article suggests hospitals should consider billing vendors who can help improve collections and reduce bad debt. Furthermore, the study reports payments sent by mail will decrease by 2019 while online payments will become the norm.

Is ACA Coverage Affordable for Low-Income People? Perspectives from Individuals in Six Cities

The Kaiser Family Foundation conducted nine focus groups across five different states to understand the Affordable Care Act’s impact on low-income people. Researchers found that overall, the participants had a positive outlook on their coverage. Premiums were affordable and access to care was no longer a barrier for them. That said, participants still struggled financially with out-of-pocket medical expenses; particularly, those with high deductible health plans. Participants constantly worried about medical bills and some delayed care due to costs.

UnitedHealth Group to Exit ACA Exchanges in all but a ‘Handful’ of States

By 2017, insurer UnitedHealth Group, will no longer be offering its services on the Affordable Care Act’s insurance exchanges. Majority of the 34 states UnitedHealth offers its plans will be impacted, reports The Washington Post. The decision was based on financial losses. Other insurance companies including Blue Cross Blue Shield and Aetna are also concerned about the exchanges.