PYMNTS.com October 31, 2024
Healthcare is among the largest industries in the world, and with the territory come pain points and inefficiencies as small- to medium-sized companies seek to tap working capital and streamline their payments processes.
Across the globe, the sector accounts for an average 10% of a country’s GDP, ranging from the $12,000 per person spent in the United States to the $5,000 per person spent in Japan.
Although many industries have seen dramatic shifts to digital channels to get payments and all manner of consumer interactions done, healthcare firms are still reliant on paper, including paper checks, billing statements and invoices. But it doesn’t need to be that way. The industry has been evolving, having rebounded from the pandemic, where supply...
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