Financial stress leads to increased health problems

Jun 24, 2015 | Healthcare Accounts Receivable

One of the benefits of obtaining health insurance, through federal or state programs, out-of-pocket or through an employer, is a demonstrated decrease in stress for individuals. A new study shows a strong correlation between the absence of financial stress and the presence of health insurance. 

"People who have health insurance have less health-related financial stress," explains The New York Times. "That's a not-so surprising finding from a recent survey from the Centers for Disease Control and Prevention. There's good reason to expect the Affordable Care Act to reduce financial strain. Exposure to health care costs fell for those who gained coverage, as it has for those whose coverage became more generous, too." 

The issue is a chicken-and-egg scenario for those who've observed the connection between financial stress and health problems. Those with the least capacity to address their health care needs are more likely to endure damaging consequences from stress. WebMD cites money problems as a major source of medical conditions, from emotional disturbances to accelerating the progression of physical problems like heart disease. 

While more Americans are gaining access to affordable health care, many still remain underinsured or uninsured altogether. Care facilities are charged with treating patients from a multitude of financial backgrounds and as such, accounts receivable administrators pursue payment from individuals who may or may not be able to manage their debt. 

When care facilities outsource receivables management, they unburden administrative offices of low-priority claims that congest operations. Reducing backlog and overall volume of claims in a caseload allows facilities to function more efficiently and to better serve the needs of their patients. Contact Professional Medical Services today to learn more about our solutions for hospitals, private practices and other medical centers.