Almost 17 million people, or 23.5% of the middle class, had medical debt as of 2020, edging out 22% of lower income people with outstanding medical costs. Read more from this article in Medical Economics.
Commonly used patient payment collection methods, often characterized by aggressive phone calls and collection agency involvement, can have detrimental effects on patients’ financial stability and overall well-being. Such practices can create stress, anxiety, and damage trust between patients and healthcare providers. Traditional patient payment collection methods need to evolve beyond harassing phone calls and collection…
Despite healthcare reform and legislation around “surprise medical billing,” a news investigation determined that medical debt is taking a fearsome financial and health toll on patients. This investigation uncovered and identified individual hospitals and their tactics to aggressively pursue patients who don’t pay their medical bills. Read more. It’s time to take a more compassionate…
Hospital finances are beginning to sustain as tight margins are the norm for more than 900 hospitals. Read more.
“Of the 15% of U.S. adults with past-due medical debt, almost two-thirds owe some or all of that debt to hospitals, according to research from the Urban Institute,” according to Healthcare Dive. Medical debt is a persistent financial burden for Americans, and in this article, the author discusses how targeting hospital billing can remedy this…
U.S. Senators Chris Van Hollen (D-Md.) and Chris Murphy (D-Conn.) announced the reintroduction of legislation to strengthen consumer protections and reform medical debt practices in December 2022. This legislation is called The Strengthening Consumer Protections and Medical Debt Transparency Act. Read more about the proposed legislation at https://www.vanhollen.senate.gov/news/press-releases/van-hollen-murphy-reintroduce-legislation-to-protect-consumers-from-medical-debt.
A recent report from the Urban Institute and Robert Wood Johnson Foundation found that nearly three-quarters of U.S. adults with past-due medical bills owe at least some of that debt to hospitals. Read more. The persistence of medical debt is an ongoing challenge families face in obtaining affordable health care. This is due to high…
Hospital systems and the entire healthcare industry’s staffing shortages are escalating amid the ongoing COVID-19 pandemic. With fewer patient financial service team members available to serve patient payment needs, facilities’ bottom lines are suffering. Healthcare professionals, office managers, and even billing and collection departments, are all under pressure due to staffing shortages, but there are…
Care Cap Plus and the companies trending in disruptive tech in 2022 all have one thing in common: innovation. Innovation helps fintech companies like Care Cap Plus maintain their agility by focusing on end users. In an increasingly competitive marketplace, disrupters stand out and change the status quo for customers by delivering accessibility and convenience….
Hey, Dermatologists, It’s National Healthy Skin Month – Why Not Also Offer Your Patients a Healthy Financing Solution? November is National Healthy Skin Month, and the American Academy of Dermatology offers an extensive list of tips for helping Americans keep their skin healthy. But there’s another option dermatologists can offer their patients to safeguard their…
How being Credit Invisible is Affecting Minority Groups’ Access to Healthcare By James N. Giordano View the original article on South Florida Hospital News. In a year of racial reckoning on many fronts, we’re also seeing a greater focus on racial health disparities — why people of color have lower life expectancies and are sicker…
The Wall Street Journal pulse on the financial and personal ramifications of dental care in America is spot on. Dental insurance and Medicare leave patients suffering with high-deductibles at minimum and few options to cover them that are interest and fee-free, truly helping patients in need. This timely and insightful article points out the costly…
Dental hygiene is a critical part of overall health and well-being – but unfortunately it is sometimes put off the most. Many times lack of insurance or cost of care prevent patients from receiving the dental care they need. Understanding the financial barriers to access and how to overcome them is critical for millions of…
Care Cap Plus recently joined the Healthcare Financial Management Association (HFMA), the industry’s leading resource for healthcare finance. HFMA isn’t just about revenue, however its members consistently strive to make healthcare finance more transparent through best practices, education and innovation. A recent article published by the HFMA highlights the most common reason hospitals and medical…
As our team prepared to attend the American Association of Dental Office Management (AADOM) conference in Orlando this month we wanted to do a deep dive into the dental industry, how it has been impacted by COVID and most importantly how the patient population has suffered. The CareQuest Institute of Oral Health’s mission is to…
Every year, almost 700,000 Americans have refractive eye surgery, including LASIK and PRK, to correct vision problems and eliminate the need to wear prescription glasses or contact lenses. However, with the average procedure costing an estimated $2,500 per eye, the dream of 20/20 vision may seem out of reach for many Americans. People seek refractive…
As a healthcare provider, you may think you or your business manager have checked the box on patient financing by simply offering a medical credit card like CareCredit or another financing option such as a medical loan. But if you haven’t taken a close look at your practice’s patient financing options, chances are you are…
By James N. Giordano It’s Men’s Health Month, so you are likely to hear a lot about chronic illnesses common to many men — things like heart disease, diabetes and hypertension. But you may not hear much about a frequent consequence of those conditions: erectile dysfunction (ED) or the mental health fallout of that condition….
We are thrilled to announce our move to the Jacksonville area and look forward to serving the medical community and the patients they serve with a better way to pay. Read more about our plans as we move south! “The combination of lower business taxes and ability to be in closer proximity to one of…
FOR IMMEDIATE RELEASE June 1, 2021 Contact Juliet Hauser [email protected] Help is Available for Women Who Suffer from Pelvic Organ Prolapse, Which Affects Half of Women Over Their Lifetimes June is pelvic organ prolapse awareness month, advocates urge women not to suffer in silence JACKSONVILLE, Fla. – Too often, the stigma surrounding a little-known but surprisingly…
FOR IMMEDIATE RELEASE May 20, 2021 Contact Juliet Hauser [email protected] Innovative Healthcare Finance Company Relocates Headquarters to Florida Care Cap Plus offers compassionate and responsible financing model to make medical care affordable to more consumers, while helping providers grow their practices JACKSONVILLE, Fla. – Care Cap Plus, an innovative healthcare finance company serving medical practices…
Major banks like JP Morgan are trying to figure out how to provide financial options to customers who have traditionally lacked opportunity. Care Cap Plus figured this out years ago and it works! Our providers understand the value of including payment options for customers with credit scores as low as 400. Read the Full Article…
FOR IMMEDIATE RELEASE April 20, 2021 Media Contact Juliet Hauser [email protected] TALLAHASSEE, Fla. – Four in 10 Floridians are delaying medical procedures due to affordability and high deductibles, and many would prefer to use health care providers who offered ways to avoid crippling medical debt, according to a new statewide survey1 released by innovative fintech…
As we wrap up our week here at Care Cap Plus, we like to review our customer calls and satisfaction surveys. This week, like most, a resounding number of patients entered into interest and fee-free payment plans with their providers through Care Cap Plus, NOT Care Credit. Why? Most Care Cap Plus customers have been…
By Betsy Giordano Companies large and small are recognizing the value and necessity of corporate social responsibility (CSR) – the idea that it’s not enough just to do well, you have to do good. Corporate responsibility falls on all businesses from the Disneys and Targets of the world to local medical practices. A recent Care Cap Plus survey…
Bravo UVA Health on the monumental pivot when handling patient pays. As an honorary ombudsman for patient payment solutions, we offer hospitals non-predatory and patient-friendly ways to pay. How can we help hospitals like you? With compassionate financial alternatives for your patients. Original Article by Jay Hancock University of Virginia Health System, which for years has sued…
February 11, 2021·2 min read GLEN ROCK, N.J., Feb. 11, 2021 /PRNewswire/ — Care Cap Plus, LLC announces a solution for medical providers to combat the decline in healthcare spending by American households as a result of Covid-19. According to the Peterson-KFF Health System Tracker, the pandemic led to a historic decline in health spending…
By James N. Giordano Why The Healthcare Industry Should Take Note From History Americans are confused, anxious and frustrated by rising and unpredictable copays, deductibles, and out-of-network expenses. COVID-19 has presented additional financial challenges and barriers to care. The patient financial burden continues to increase and most patients don’t understand why. What they do know…
“Can so-called medical credit cards help hospitals address growing bad debt challenges?” Simply…. No. Medical providers have wised up to their patient’s payment needs. Not everyone can pay cash or credit. Unfortunately, many providers unknowingly only offer “gotcha” medical credit cards with hidden, retroactive APRs and fees. There must be better options for patients and…