Today, two out of three patients do not pay their bill in full. TransUnion Healthcare’s analysis projects that by the year 2020, the percentage of patients not paying their bills in full will rise to 95%. More than ever risk management, proper screening prior to treatment, as well as patient financial experience is key.
Growing debt and unpaid bills are becoming a significant issue for hospitals and health systems…and today we interview a leading expert, Jonthan Wiik of Transunion on the subject. This is an interview conducted on 3/5/2018 at HIMSS in Las Vegas.
Jonathan Wiik serves as a Principal at TransUnion, in the Healthcare Solutions Division. He has over 20 years’ experience in health care, and he has worked in both the acute care and insurance setting. He has spoken at several national and state events, and has developed several nationally‐recognized programs in Point‐of‐Service (POS) Collections, financial clearance, and sharing best practices in hospital operations.
This podcast outlines the following:
- New study shows significant increase in patient out of pocket costs
- Head-scratching numbers of the healthcare future of millennial payers
- The importance of the 501R Charity designation
- How health providers will acquire new patients while reducing medical debt
- The power of financial screening technology
- Ability vs. willingness to pay
- Jonathan’s book and new look on consumer payer