Keeping Patient Payments Coming Despite a Sluggish Economic Recovery

Many economists are pointing to robust growth in 2021 as the United States continues a slow recovery during the COVID-19 pandemic, but it’s unclear if that improvement will reach medical group practices in the near future.

A slow recovery for jobs is particularly troublesome for healthcare providers faced with managing shifting payer mix and collecting a higher percentage of balances from patients who are uninsured or underinsured.

During a recent MGMA insights podcast, Karen Zupko, president, Karen Zupko & Associates, says that the financial policies and practices that made healthcare providers successful before the pandemic may be outdated.

While unemployment is improving, “high-deductible health plans have not gone away,” Zupko said. At the same time, federal relief efforts such as stimulus payments directly to taxpayers can have big effects on patients who previously struggled.