Helping Patients Break Out of Medical Debt: 3 Reasons Digital Engagement Matters

The following is a guest article by Randall Shafer, Executive Vice President and Global Head, Hospital Business at Firstsource. When it comes to patient financial engagement, traditional models are like the hare from “The Tortoise and the Hare”: racing off the starting line, hitting the phones hard and pushing for a customer response. But as Aesop’s fable shows, it takes more than speed to produce the desired result. Today, self-service models driven largely by digital tools and communications offer a “work smarter, not harder” approach that boosts engagement while reducing total cost to collect. Half of American consumers carry medical debt, up from 46% in 2020, a medical debt survey shows, with 57% owing at least $1,000. Most expenses stem from diagnostic tests, hospitalization, emergency department visits or outpatient services, the survey found.