COVID-19 has caused enormous revenue losses and brought about a global recession that will, without a doubt, have an impact on the healthcare industry that will be felt even years later.
The pandemic has led to a colossal recession, with states like Indiana being no exception; it has fostered some of the most major challenges with patient communication that we see today. The recession it has brought, could decidedly affect the health insurance coverage. Not only millions of beneficiaries could become uninsured by the year-end, as a direct result of job loss but millions more could stop using and benefitting from the employer-sponsored insurance coverage. It is this shift in paradigm in the field of insurance coverage that is leading to critical changes in the payer mix and the payer billing tactics.
There’s an increasing demand for high-deductible health plans which has led most care providers to shift their focus towards the various self-pay methods. However, this crisis scenario has encouraged healthcare organizations to start adopting self-pay patient billing methods in order to foster better payments, which means – you would see a lot of pending insurance claims!