Patient Payments Blog

When I was a young man in college I had an adviser give me a great piece of advice. I was struggling with my budget at the time. Trying to pay for college, apartment, car, and food was getting to be a stretch. We talked for awhile about things I could do but the only thing I now remember from the conversation was this, “There are only two ways to balance your budget. Increase Revenue or Decrease Spending.” 

So the election just blew up any chance for continuity in the way government looks at and regulates healthcare - what’s new with that? How many changes, mandates, regulations, and dubious upgrades have you endured the past few years? Is there any industry other than perhaps, nuclear power, that is subject to more pressures, more incoming fire, than healthcare?

Now another administration is perched on the brink of grabbing the spinning ship’s wheel of healthcare and jerking it once again in an unknown direction. The temptation is to throw up our hands or throw in the towel. Waving the white flag might be an appealing option faced with more upheaval. Don’t be so hasty! Think of all the things you’ve already conquered. Think of how many times the outside forces had you pinned down and weary from the merciless onslaught of new demands and changes.

It is no big secret that the cost of healthcare grows year over year. Increased complexities in the industry like the Affordable Care Act and the resultant healthcare consumer continue to drive costs.

It will also come as no surprise that these complexities continue to impact your bottom line. Healthcare providers of all sizes and specialities have been feeling the pinch for years now, primarily in the increased portion of patient revenue.

Happy New Year! It's an exciting time for the healthcare industry. New policies will begin to unfold, health technology will continue to advance, and the way healthcare providers approach patient care will lend itself to the expectations of the new consumer.