Payments Journal September 22, 2021
Healthcare is one of the fastest growing segments for both technology and payments, as Bhagvan Kommadi points out in this Forbes article. What’s driving the demand for both is a fundamental shift in how we consume healthcare services here in the US. Most of the technology built to manage patient records and payments came to market at a time when the healthcare landscape was dominated by HMOs with nominal patient co-pays. Enterprise systems with hospitals and physician practice groups were designed to exchange billing details with insurance companies, since they paid the entire bill except for the nominal co-pay provided by the patient.
Today’s healthcare has evolved into high-deductible healthcare plans (HDHP), where the patient is now responsible for the...
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