Dosher Memorial Hospital, a nonprofit hospital based in Southport, N.C., has implemented a series of patient payment initiatives aimed at reducing its annual $10 million in uncompensated care expenses, reports State Port Pilot.
Below are three ways the hospital aims to reduce bad debt.
1. To help patients handle unexpected costs, the hospital implemented prompt-pay discount policy for insured and uninsured patients. Uninsured patients that provide payment upfront receive a 30 percent discount on total charges. Insured patients save 20 percent on total charges if they fulfill their financial obligation within 45 days of insurance reimbursement or 30 days of the first mailed statement.
2. The hospital hired a financial counselor to assist patients in applying for Medicaid coverage. The hospital found many patients eligible for government coverage often abandoned the application process due lengthy, confusing paperwork and mandated state and county inquiries.
3. Dosher modernized and redesigned its patient billing processor. Now, Dosher patients can go online and view their bills on a computer or a smart phone for increased convenience. The hospital also simplified its bill format.