Time Value of Money
Economic uncertainty and financial instability affect the ability of patients to pay debt arising from medical bills not covered by insurance, leading to questions of medical account resolution. Health care providers are on the opposite side of this equation because patient payments affect the revenue cycle, which can vary in length depending on the size and type of organization. In reality, some patients are unable to pay the portion of their medical bills not covered by insurance, adversely affecting the organization’s bottom line. Discuss the following in regard to this:
What options and procedure would you consider acceptable for collection of bad debt?
