Co-pays on the rise for employers and employees (Yes, this affects private practice owners)
I just blogged about the impact of increased patient financial responsibility earlier today but couldn’t resist getting this commentary up on The Healthcare Entrepreneur tonight as it relates to my earlier post and is very timely.
A study released by Mercer indicates that patient responsible portions for payment of healthcare costs continues to rise as employers are pressured to shift financial responsibility for healthcare toward their employees during these tight economic times.
The impact on the private practice owner? You can bet that some of those elective procedures will be staved off untill the 11th hour and time-to-cash on patient responsible portions will creep ever outward. Now, I’m not saying the sky is falling, just be prepared to take care of that cash-on-hand.
Click here for the article from KansasCity.com.
A survey released Thursday by the Mercer consulting firm found that 59 percent of companies intend to keep down their rising health care costs in 2009 by raising workers’ deductibles, co-pays or out-of-pocket spending limits.
Between 2003 and 2007, the average deductible for an individual grew from $250 to $400. For a family, it rose from $1,000 to $1,500, according to Mercer.