How to Measure the Healthcare Billing Experience

Healthcare providers are collecting more from patients than ever before, yet the healthcare billing experience remains confusing, complicated and downright unpleasant for most patients.A recent survey of over 1,000 US consumers found that nearly four in ten consumers have switched providers because of a negative billing experience. About 41% of respondents also said they had left a negative review of a provider because of these experiences.Lackluster billing experiences coupled with the growing cost of healthcare, especially for patients, are making it even more difficult for providers to collect revenue for services rendered. In fact, patient collection rates have declined after the COVID-19 pandemic, from about 55% in 2021 to almost 48% in 2022 and 2023. At that time, providers received barely a quarter of the total charges owed to them, writing more off as bad debt despite historically low uninsured rates.

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Medigy Insights

There is a good reason for that; providers still get the lion’s share of their revenue from insurance companies. So, providers haven’t necessarily had to dig deeper into the billing experience for patients since patient collections made up so little of their revenue. However, high-deductible health plans and patient financial responsibility have only continued to climb over the last decade while hospital margins have gotten slimmer.To understand actual performance from a provider’s technology usage and other billing practices, Cedar identified five initial benchmarks using data McPherson believes should be readily available to providers and separate from specific EHR usage.

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