Healthcare DIVE July 28, 2021
Digitalization can simplify the medical bill payment process and give patients more information, earlier on, about their financial responsibilities, experts say.
The COVID-19 pandemic has redefined how health care is delivered as well as how people pay for it. On the delivery side, patients and doctors offices have embraced telehealth appointments; on the financial side, patients have turned to contactless payment modalities and phone apps to handle their balances.
Zotec Partners, a healthcare payment vendor, reports that the number of patients paying bills online rose nearly 200% from May 2020 to May 2021. The number of Zotec patients using time-of-service payments grew 55% in the same period.
That comports with a report from InstaMed, another healthcare payment company, which found an “unprecedented explosion...