Patient Payment Trends In Healthcare

Providers have long struggled with collecting payments. With rising healthcare costs, patients are struggling to pay their bills. It’s not just the uninsured or underinsured who are having trouble. Almost half (46%) of insured adults have difficulty paying their out-of-pocket costs. One in four (27%) reported having trouble affording their deductible.

The COVID-19 pandemic caused a seismic shift in how patients accessed healthcare services. Nearly three-quarters of consumers said they prefer online payments for medical bills.

The financial and billing process plays a major role in the patient experience. It can also make or break patient satisfaction and retention. According to one survey, 93% of healthcare consumers would be dissuaded from returning to a healthcare provider based on the billing experience.