Adjusting ARM’s and reduced home equity placing medical bills second in line
Posted Dec 02 2008 2:01am
In this article published in the Wall Street Journal online, the issue is addressed whereby the housing crisis is impacting the ability for Americans to pay their medical bills. This has been in the works for some time now, and with many ARM’s readjusting and the amount of equity in Americans’ homes seriously deflated, medical bills are piling up simply because they have to.
Medical practices will be wise to understand what is going on in the economy and how they can work with their patients to make it through this difficult economic time.
People have long resorted to borrowing against their homes to pay for medical care in times of illness or after an accident. But with home values plummeting and interest rates on adjustable mortgages ratcheting higher, some indebted patients are at risk of losing their homes in order to pay for surgery, cancer treatment, drugs and other big-ticket medical expenses. Other patients are forgoing health care in order to keep from losing their homes.
Click here or call (888) 827-5613 for information on a free program dedicated to helping private practices throughout the U.S. strategically adjust to the slowing economy. Free program runs through March 31st, 2009 and is open to practice owners and administrators of any healthcare discipline.
Tannus Quatre PT, MBA is a practice consultant and principal withVantage Clinical Solutions, Inc., a national healthcare consulting and management firm located on the west coast. Tannus can be reached through the Vantage Clinical Solutions website byclicking here.