How Can Healthcare Providers Prepare for What 2021 Has in Store?
Although recent vaccine approvals have brought some much-needed good news, the U.S is currently reckoning with the deadliest wave of the pandemic. This means that in addition to a continued public health crisis, patients and providers alike will still be faced with significant economic hardship as we enter 2021 – intensifying the need to improve the healthcare financial experience.
The economic hardship brought on by the COVID-19 pandemic has affected both the patient and provider. With the highest unemployment rates since the Great Depression this year, patients are feeling more cost-conscious about care decisions than ever. According to our recent consumer survey, 84% of respondents are worried about paying their healthcare costs in the next year.
As for providers themselves, pandemic-related shutdowns and stay-at-home orders caused financial strain for these organizations, with millions of elective procedures canceled.
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