Patient financial responsibility is estimated to represent more than 30% of a hospital’s annual revenues. The rising responsibility of covering more healthcare expenses out-of-pocket is particularly problematic for Medicare beneficiaries, who are often retired and on a fixed income.
As a result, hospitals now claim an estimated more than $3 billion in Medicare bad debt each year (Source: HFMA). This revenue leakage presents a significant opportunity for hospitals. However, collecting on those accounts can be a challenge.
Medicare Bad Debt Solutions
In order to help hospital, health system and physician groups recover these revenues before they are written off to bad debt, Meduit has joined forces with F2 Healthcare – a team of Medicare bad debt recovery specialists.
Founded in 2012, F2 Healthcare provides Medicare bad debt solutions that address missed or lost reimbursements and maximize net recovery. The team provides expert consulting backed by technology-driven analytics and served over 250 hospitals in 25 states prior to joining Meduit.
Meduit’s hospital, health system and physician group clients will now have Medicare bad debt recovery solutions available to them.
For more information, read the press release here: