Physicians could get paid more, sooner, when they make it easy for patients to pay their bills online.
InstaMed, a financial technology company that focuses on medical spending, has published its 13th annual “Trends in Healthcare Payments” report. It illustrates current financial difficulties for physicians and providers: rising costs, worker shortages, burnout, and the aftermath of the COVID-19 pandemic.
It also highlights the “Untapped Potential of Giving Consumers Exactly What They Want.”
What exactly do they want? A continuation of the convenience that emerged when new virtual and self-service channels sprouted during the COVID-19 pandemic, according to InstaMed.
“Three years later, most consumers now expect to have this newfound convenience at their fingertips, including in healthcare payments,” the report said. “In fact, consumers want the ability to pay all of their healthcare payments in one place.”
Not convinced? This slideshow offers 2022 data to show how much health care costs for patients – and why physicians who want to get paid could offer smooth, straightforward electronic payment options.
Figures come from original research of InstaMed and parent company JPMorgan Chase Bank N.A., and other analysts including KaufmanHall, KFF, Gallup, Medscape, and CVS Health.