Two of the key phrases that patients hear when dealing with medical insurance or choosing a provider are “in network” and “out of network.” But what do those phrases mean? Do they really matter?
If you’re a healthcare provider, you’re probably used to delays when it comes to waiting for patients to pay their medical bills… in fact, 50% of Americans and 70% of millennials actually delay their medical payments.
The reasons for this are pretty varied. Patients might delay their payments because they forget to pay, are confused by a bill, or just aren’t sure how to pay. 65% of consumers would consider switching providers entirely - just for a better healthcare payment experience!
When asked about their budgeting habits, it was reported this year that over half of Americans set aside less than 50 dollars per month for healthcare costs. It was also discovered that nearly forty percent of Americans say that they would go into debt if faced with a medical bill of 100 dollars or more - this percentage increases for American women!
Do you need help understanding your medical bills? If you do, you’re in luck, because Rex is an expert and he wants to help you become one too! Rex is going to be sharing more of this type of information on our blog and social media channels, so stay tuned to make sure you don’t miss any of his tips! Today, Rex wants to explain a few basic terms to help you decode those bills.
Introducing, “Rex” -- RexPay’s chatbot, now trained by the team’s medical billing experts to answer your questions! The more questions Rex is asked, the more he is able to answer – every question asked in the RexPay app helps his programming gather more information to give you the specific, personalized answer that you need!
Read on for a quick look at 10 of this year’s healthcare payment trends, and find out what RexPay is doing to meet patient’s needs!