It's easy to pay everything from phone bills and credit card balances to car and mortgages through a variety of payment solutions It's what consumers are expecting. However, one space is delayed Behind The healthcare sector provides multiple payment solutions.
Along with INGO payments, a new report from PYMNTS IntelligenceImmediate treatment for healthcare payments “problems” It outlines the need for healthcare providers to modernize their billing and payment systems.
Digital payments to optimize patient experience
If the healthcare industry relies heavily on the most advanced technologies to deliver exceptional patient care and outcomes, then that approach has not expanded to the provider's billing sector. This caused patients to frustrate and different types of pain.
Only 46% of healthcare businesses use immediate payments, compared to 52% of companies in other sectors. Furthermore, only 31% of healthcare companies use the push-to-divit method and 41% of companies outside the healthcare sector.
in fact, Many providers still rely on paper billing and payments. Not only are these inconvenient for patients, they are inefficient for providers. This is because passing physical documents from department to department takes time and can be subject to errors. Any mistakes along the billing journey can lead to patient refunds.
Meanwhile, efficient billing and payment systems are more likely to increase patient satisfaction and customer loyalty, according to another study conducted by PYMNTS Intelligence in 2024.
“There's the cost of a printed check, there's the cost of an envelope, there's the cost of a stamp,” says Dee Harding. Big Data Healthcare“And you have to rely on the fact that the patient is there at the address. If something goes wrong in the meantime whole The process, you set yourself up for the patient's complaints. ”
Healthcare will move to digital payments
Patients are keen on better ways, as 77% reported that digital payments and receiving have a positive impact on their relationship with healthcare providers. Seamless billing and payments are ubiquitous with other types of businesses, so patients deal with it day to dayit's natural to expect that from the healthcare industry.
The expectations are on the rise as PYMNTS intelligence research has been shown. This indicated that only 39% of patients who said they would choose immediate healthcare spending in 2023 reported doing so when asked in 2024.
Many small to medium sized providers will likely be slow to adopt digital payment solutions as they feel they lack resources from the larger players on-site. However, according to the recent PYMNTS Intelligence Research, 66% of these providers have sent real-time payments over the past 12 months, and credit cards are used in 55% of practice, making them the second most popular payment method. Checks still accounted for 42%, while bank transfers closed at 34%. from now on64% of small to medium sized providers Say them I'm interested in real-time payments.
