Problem
Healthcare organizations are struggling to collect full patient financial responsibility, especially with the rise of high-deductible health plans in the U.S. In a recent survey, approximately 80% of individuals said that affordability is their greatest challenge with paying their healthcare bills. 56% reported delaying payment of the medical bills at least some of the time.
You are in your new job as the Chief Financial Officer for a hospital that is struggling with patient collections and you may have to recommend staff reductions to keep the hospital solvent, what ways would you use to boost collection of patient financial responsibility and what would you do if the patient still cannot pay?
Be sure to base your responses on the information from the reading materials. If you use other information be sure to include the reference or citation in your post.