PYMNTS.com September 19, 2024
The healthcare industry faces significant challenges with outdated payment and claims systems, which undermine financial stability and patient satisfaction. Despite the potential benefits of digital payments, the sector has been slow to adopt these innovations due to traditional practices and obstacles.
A PYMNTS Intelligence report, “Pains and Gains: Conquering Healthcare’s Payment Woes,” done in conjunction with American Express, reveals how the industry must confront these inefficiencies and integrate digital solutions into its payment processes.
The Financial Toll of Outdated Payment Systems
Healthcare’s payment system inefficiencies are a concern, imposing a considerable burden on organizations. More than half of healthcare payment leaders see delays in payment and claims processing as a severe threat to operational success. Despite this recognition, only 53%...
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