CMS forecasts out-of-pocket costs hitting households are projected to climb 6.1% in 2022, and an average of 4.6% annually to 2030 – roughly the same rate as their wages. This steep increase in forecasted spending suggests growing affordability issues at a time when families across America are already feeling squeezed by increasing food, interest rates, and fuel prices.
Currently, as many as 3 million people in the United States have unpaid medical debt, and 16 million consumers owe more than $1,000. The inflationary picture ahead suggests more struggles for households across America, and sets the state for growing unpaid medical debt, and more bills languishing in accounts receivable.
When it comes to ensuring your hospital leverages your bad debt reimbursement, let HRS be your expert.
Sources:
c. Rae, M., et al., “The burden of medical debt in the United States,” Peterson-KFF Health System Tracker, March 10, 2022
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