Jan 10, 2014 | Coding, Billing, and Collections, Laboratory News, Laboratory Operations, Laboratory Pathology, Managed Care Contracts & Payer Reimbursement, Management & Operations
The IRS is authorized to strip tax-exempt status from ‘willful and flagrant’ violators of ACA financial rules; pathologists and clinical laboratory managers should take notice
Hospitals and other providers already find it more difficult to collect larger amounts of money from patients who have high deductible health plans (HDHPs). That degree of difficulty increased on January 1, 2014. That’s the date when new regulations of the Affordable Care Act (ACA) kicked in that govern how hospitals can collect money from patients or extend financial aid to them.
Non-profit hospitals need to pay attention to the new requirements set forth by the ACA law. It is likely that these new rules will affect most hospital laboratory managers and hospital-based pathology organizations. That’s because these new rules will affect six out of 10 of the nation’s hospitals. (more…)
Nov 15, 2013 | Coding, Billing, and Collections, Laboratory Management and Operations, Laboratory News, Laboratory Pathology, Management & Operations
Even clinical laboratories and pathology groups are reporting increased patient bad debt because more patients have high annual deductibles, often $5,000 or more
Hospital executives are anticipating a deluge of new patient debt associated with a dramatic increase in high-deductible health plans. Some hospital systems have even launched loan programs to help patients pay for their share of the cost for care provided and to stem the rising tide of uncollectible patient debt.
Patient Bad Debt Trend Should Be Watched by Clinical Lab Managers
It is important for clinical laboratory managers and pathologists to understand that these actions by hospitals to address bad debt is a reminder that medical laboratories will have a similar problem of collecting monies due to them from patients who have high deductibles and will need to pay 100% of the cost of their lab testing. (more…)
