Seventy percent of executives at 150 health care systems expect a decrease in commercially insured patients over the next 12 months.
The response regarding payments is noteworthy because commercial insurance plans usually reimburse hospitals more money than Medicaid plans pay. A decrease in commercially insured patients will cut hospitals’ per-patient revenue.
The survey, conducted by the Healthcare Financial Management Association, analyzed by Guidehouse, and released on September 30, questioned respondents on a wide range of practices to measure the impact of COVID-19 lockdowns on the economy.
Other significant findings include 92 percent of executives saying their organizations have increased telehealth but one in five reporting a “seamless transition” in using electronic health records in conjunction with virtual care.
Also of note, 12 percent of the health care executives say their organizations are ready to comply with the Trump Administration’s hospital price transparency rules scheduled to go into effect on January 1, 2021.
Organizations report making more of an effort to help consumers deal with their medical bills, with 63 percent of the executives saying they are offering financial counseling and payment plans to patients and 56 percent say they are giving price estimates.
—Staff reports
Internet info:
“Hospital Executives Predict Significant Shifts in Payer Mix, Revenue Cycle IT Budgets Post COVID-19,” Guidehouse, September 30, 2020: https://guidehouse.com/news/corporate-news/2020/gh-hfma-survey