A popular meme holds that 643,000 Americans go bankrupt every year over medical bills, but the underlying math is elusive.
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ORLANDO, Fla.—Hospitals across the country lose approximately $262 billion per year on denied claims from insurers, sparking huge cash-flow issues and recovery costs, according to new data.Payers initially deny about 9% of hospital claims, putting about $5 million in payments per hospital at risk, said Jason Williams, vice president of analytics for Change Healthcare, which collected the data.Although hospitals ultimately will secure payment for 63% of initially denied claims, it costs $118 per claim on average to recoup the money, not to mention the cost to hospitals of foregoing the payments while they claw back the funds, Williams said."Even if they're ultimately paid for 63% of the claims, that's not great," said Williams, speaking on the sidelines of the national educationalMorehttp://www.modernhealthcare.com/article/20170627/NEWS/170629905
The average cost of a one-day stay in the hospital is over $1,700.*
This valuable coverage provides fixed payments when you’re hospitalized to help cover out-of-pocket costs. Accidents and illnesses can happen - and sometimes result in an inpatient hospital stay. Being in the hospital can be more stressful if you are worrying about out-of-pocket costs like your medical plan deductible, copay or other health-related expenses. Other expenses can also add up, like transportation to and from the hospital, child care and lost income from missed work. Consider these facts: Consider these facts: • 18.4 million people stayed overnight in the hospital at least once in the past 12 months.* • The average length of a hospital stay is five days.* More United States
State/local government hospitals — $1,878 Nonprofit hospitals — $2,289 For-profit hospitals — $1,791 Alabama State/local government hospitals — $1,457 Nonprofit hospitals — $1,657 For-profit hospitals — $1,340 Alaska State/local government hospitals — $1,456 Nonprofit hospitals — $2,144 For-profit hospitals — $2,792 Arizona State/local government hospitals — $2,089 Nonprofit hospitals — $2,474 For-profit hospitals — $2,035 More A friend was diagnosed with terminal cancer. He died, after suffering financial ruin, he was living in his car in a hospital parking lot undergoing Chemo. I decided, someone should do something about about this.
Twenty years passed, No one did. Fast forward, By crafting a blend of existing resources, we develop Health Centric Hospitality. medical center enhanced service suites.Starting with a strategic alliance between a major national hotel company and a premier management group, the top representatives of hotel branding and custom hotel management bringing hospital administrators the option of upscale on site rooms. Medical center benefits? Discharge options, ambulatory support, observation platforms, support for inpatient families, one day admission alternatives and a reduced occurrence of insurance company rejections. New luxury rooms at no cost to the hospital as close to services as in house at a fraction of the cost to the client. A major side benefit of this program will be a reduction in the number of medical bankruptcies which now account for 60% of all filings. All but the very rich are one illness away from chapter 7 If people don't die in their cars in hospital parking lots, I will regard it as a worthy disruptive idea. Hospitalite |
AuthorRobert Brooks Builder Developer Entrepreneur Seeker Archives
May 2018
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