The Trends in Healthcare Payments Eleventh Annual Report surveyed consumers, providers and payers to highlight healthcare billing and payment trends from 2020.
Below are six notable findings:
- Fifty-four percent of providers changed their contactless payment strategy because of the pandemic.
- Thirty-nine percent of providers said their primary revenue cycle concern was pandemic-related.
- Eighty-four percent of providers prefer electronic funds transfers from payers. However, 62 percent of payers still pay providers via paper and fee-based options.
- Eighty-two percent of consumers want to make all of their healthcare payments in one place.
- Fifty-six percent of consumers would consider switching healthcare providers for a better payment experience.
- Seventy-eight percent of consumers want the pandemic’s prevalent contactless payment options to remain in place.
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