ClearBalance Blog

Millennials Force Healthcare in Digital Direction

March 10, 2016 — Millennials raised in the digital age with the convenience of online services are driving healthcare providers to change how they engage with patients and improve the customer service aspect of care. While older generations value in-person communication and cultivating relationships with medical professionals, millennials desire a different approach. Accustomed to instant gratification, ...
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Finance Still Tops List of Hospital CEO Concerns

March 1, 2016 — The pendulum continues to swing back toward financial. Releasing its annual list of hospital CEOs’ top concerns, the American College of Healthcare Executives (ACHE) president Deborah Bowen says senior leaders “have their eye on their organizations’ financial strategy, and they are also making strides in moving forward with patient safety and ...
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Redefining Patient Responsibility for a New Era

Excerpted from HFM Magazine Feb. 16, 2016 — As patients assume responsibility for a growing proportion of their healthcare costs, providers face a financial burden from having to write off costs for patients who cannot afford to pay their share. Providers can benefit from developing programs to alleviate this burden. In 2013, more than 60 percent of ...
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Revenue Cycle: Cost Center or Strategic Asset?

Article originally written by Lola Butcher Jan. 17, 2016 — Traditionally, most health systems have viewed the revenue cycle as a cost center, evaluating success based on the ability to minimize costs. That approach may limit technology investments and staff that can make a financial impact on revenue cycle functions. “Healthcare executives, especially finance executives, really need ...
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In Waning Days of 2015 … Congress Pushes for Delay in Cadillac Tax

Jan. 7, 2016 — Lawmakers’ recent delay to adopt the Affordable Care Act’s Cadillac tax gives Congress time to make adjustments to the regulation. In the election year, healthcare once again will factor heavily into campaign rhetoric. The delay, from 2018 to 2020, was included in a year-end tax and spending package that also makes the ...
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Patient Loan Programs Have Changed for the Better

Jan. 23, 2015 — At least one in six healthcare providers offer their community a patient loan program. And, with the continued increase in high deductible plans, more providers are implementing patient friendly loan programs. Usage is expected to surge by as much as 50% this year. However, the industry’s reputation still suffers from the poorly ...
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Overcoming the Patient Pay Problem Requires Patient Engagement

Dec. 16, 2014 — Health insurance coverage alone is not indicative of patients’ ability to pay their medical bills. As consumers increasingly gravitate toward high-deductible health plans (HDHPs) because of the low premiums, many still cannot afford the high deductibles, thus creating greater amounts of bad debt. Providers are revisiting collection efforts, hoping to engage patients and ...
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ClearBalance Lending Up; Financing Fills Need in Hospital Billing

Sept. 9, 2013 — The number of patient loans made by San Diego-based lender ClearBalance® has grown 76 percent from last year as the number high-deductible health insurance plans increases. With high deductibles come high costs to patients, who can’t always afford to pay $2,000 or even $10,000 to the hospital up front. Patient financing as offered ...
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High Deductible Health Plans, Gamble for Some, On the Rise

Aug. 24, 2013 — Near the end of last year, a big finance company in Charlotte, N.C., was doing what a lot of other businesses have been doing recently: switching its healthcare offerings. “Everything was changing, and we would only be offered two choices and each were a high-deductible plan,” says Marty Metzl, whose husband works ...
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KHN: Hospital bad debt climbs as coverage costs are shifted onto workers

Aug. 13, 2013 — The rise of high-deductible health plans has left many patients unable to pay their full medical bills, causing bad debt levels to climb at some hospitals, Kaiser Health News‘ “Capsules” blog reports. The Financial Leadership Council’s Sarah Gabriel explains how to make affordable financing a win-win for patients and hospitals. According to the Kaiser ...
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