Patient financial responsibility for large medical bills has spiked to nearly 50%, forcing health systems to overhaul collection strategies as out-of-pocket costs continue to climb.
Cedar is named as co-author of a healthcare report on patient out-of-pocket costs, with no direct financial or market-moving data.
New industry data reveals that patient responsibility for large, slow-to-resolve medical balances climbed to 49.3% over the past year, up from 37.5%. The report, co-authored by Cedar, highlights the increasing financial strain on consumers and details how five major health systems are adapting their billing strategies to address these rising costs.
The report identifies a significant shift in financial burden, with patients now responsible for nearly half of all large, slow-to-resolve medical balances.