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May 2009 2015 >> $5 December
PHYSICIAN SPOTLIGHT PAGE 3
The Challenge: Getting Paid This partner in patient receivables doesn’t get paid until hospitals save money
Tully Patrowicz, MD ON ROUNDS
By JULIE PARKER
Population Health Advances
As the American culture shifts to grind more financial responsibility onto patients, hospitals are facing more costly hurtles. A few sobering facts: 81 percent of true self-pay responsibilities are never recovered; 75 percent of patient responsibilities are never collected; and selfpay is the third most frequent payment method after Medicaid and Medicare. On average, only 10 percent of patient receivables is collected at the time of service. More than half of all bad consumer debt relates to medical bills, leading an unprecedented number of patients to file for bankruptcy protection. “Hospitals have been dealing with self-pay for some time, but not in the volume or dollars we see now,” said Sheila Schweitzer, CEO of PatientMatters, a 30-year veteran in healthcare administration – half on the payor side; half on the provider end. “The cash at stake is substantial and harder to collect than a third party. It’s imperative to have a patient receivables strategy in place, or
Physicians are buzzing about the new healthcare paradigm ... 16
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Changing Trends in Medicine
Dr. Tom Dooley Foundation to be highlighted at AAPS annual awards dinner ... 9
Five Ways Millennials Have Shaken Up Healthcare They prefer alternative to single-source, PCP favored by older generations By JULIE PARKER
ORLANDO--The most powerful demographic group – millennials, ages 21-32, empowered by advances in technology – are turning America’s healthcare landscape upside down. In a recently released survey commissioned by PNC Healthcare, more than 5,000 participants nationwide explored the impact of patientcentered care among various age groups, including millennials, Generation X or Gen-Xers (ages 33-49), baby boomers (ages 50-71) and seniors (72+). The most significant finding: online shopping for doctors, (CONTINUED ON PAGE 6)
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