Pinckneyville hospital to work out payment details before service
With the changes that are occurring with healthcare insurance, deductibles and co-pays are rising. Pinckneyville Community Hospital recently began contacting individuals who are to be scheduled for elective services to work with them in advance of their date of service to address deductibles and coinsurance that will be the patient's responsibility to pay in full prior to or on the date of the service.
Hospital staff will be supplying the patients with current information on the amount of their deductible and coinsurance that is still outstanding for the current plan year that is the patient's responsibility. Patients will have the option to pay that balance in full at or before the date of service and receive a 10% discount on the amount due. If there is a balance after the procedure, the patient will have the opportunity to obtain a 5% discount on that amount if it is paid off in full within 30 days on the date on their initial statement.
If the patient is unable to pay the estimated balance in full on or before the date of service, the patient can opt to pay a minimum upfront payment equal to the greater of 10% of the estimated deductible/coinsurance balance due or $100. The patient will then need to sign a medical promissory note regarding payment of remaining balances which will be eligible to be paid over a 12-month interest-free payment plan. As part of the interest-free payment plan, patients are required to make timely monthly payments to avoid further collection proceedings. Insured patients can also apply for and be eligible for financial assistance depending on household income and total medical bills the patient currently owes.
In the event a patient is unable to make the minimum upfront payment, elective, non-emergent procedures will be rescheduled to allow the necessary time to address amounts due for the services that will be provided.
Similar payment expectations for uninsured patients will also apply. Depending on the patients prior payment history, 50% of the balance due may be required on or before the date of service. Uninsured patients are eligible for 20% prompt pay discounts for balances paid in full at the time of service or can apply for financial assistance and uninsured patient discounts to further assist with balances they owe. If there is a balance after the procedure, the patient will have the opportunity to obtain a 15% discount on that amount if it is paid in full within 30 days on the date on their initial statement.
Unpaid account balances that are greater than one year old and forwarded to a collection agency are ineligible for financial assistance. Therefore, this new process to be implemented by Pinckneyville Hospital will help assist patients in holding early conversations with hospital staff regarding financial assistance eligibility.