In the ever-changing landscape of healthcare economics, there has been a disproportionate increase in hospitals' bad debt. Over the past three years, hospitals are grappling with over 45% surge1 in bad debt stemming from self-pay patients post adjudication (11% in 2018 to over 57% in 2021).

Your priority as a provider is caring about your patients’ health… and that includes their financial well-being. But what can you prescribe for patients who don’t qualify for your existing financing options? Instead of turning them away or sacrificing 5-20% of your patient’s balance to a medical credit card company, consider a triple dose of success with Epic River’s patient lending solution.

The patient financing industry is about to experience a period of growth.

It’s no secret: Americans are drowning under heaps of medical debt. In fact, a recent study conducted by the Kaiser Family Foundation found that more than 25% of patients struggle to pay for the medical treatment they have received, and that medical debt is the number one cause of personal bankruptcy filings in America. These figures are staggering, and as a health care provider, you probably wish there was something you could do to lessen the financial struggle for your patients. Thankfully, there is! At Epic River, we can provide you with patient billing solutions that not only benefit your practice, but also your patients.

As a medical provider, your number one concern is always that of patient health and safety. So what happens when outdated billing practices make it challenging for a patient to pay off their medical debt or worse, inadvertently prevents them from seeking the care that they need? In June 2017, the CDC reported that nearly 40 percent of Americans between 18 and 64 years old have a high-deductible health insurance plan, and that 15.5 percent of them reported difficulty paying their medical bills. It is an unfortunate fact that many individuals who seek care often can’t afford their out-of-pocket portion of the resulting bills because of these high deductibles.