Healthcare payments are complicated and confusing for anyone, even for those who work in healthcare payment administration. Most of the purchases we make in life are fairly simple. We know what we’re buying and why, and we generally know how much it’s going to cost before we make the purchase. Oddly, when it comes to “purchases” that are vital to our wellbeing, such as medical procedures, we often are left in the dark regarding exactly what we’re paying for and how much will be paid out of pocket. Contactless check-in for healthcare is ready to change the game of healthcare.
This kind of confusion unfortunately runs in many directions in the healthcare industry. It’s often unclear what our actual bill will be. This is what leads to the statistic that we spend $190 billion per year on unnecessary healthcare payment administration costs.
Most Americans want to know medical expenses up front, including 84% of millennials and 65% of baby boomers. However, 50% of upfront estimates are inaccurate. This contributes to many Americans struggling to pay unexpected medical bills. In fact 67%of Americans believe they could not afford a surprise medical bill.
The growing popularity of high deductible health plans is actually increasing the frequency of unexpected medical bills. Patients are uncertain of their cost responsibilities, and in this case, 69% will attempt to learn the cost before the procedure, but 42% will just wait for the bill to come.
The solution to all of this is connected payments. Contactless check-ins and payments brought on by the COVID pandemic are actually proving to be a major upgrade to the old methods. Now, patients are able to provide all the necessary information online, prior to their appointment, and insurance eligibility verification is made possible before the patient ever walks through the door.
Connected payments can add clarity to both patients and administrators and can significantly reduce surprise medical expenses and unnecessary administrative costs. Learn more about contactless check-in for healthcare in the infographic below:
Source: PracticeSquire
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