Healthcare Payments

Learn what consumers want to better serve your patients

Care affordability impacts not only access to treatment, but also patient financial responsibility, which in turn affects healthcare provider operations. This is a chance for providers to boost patient satisfaction and improve their ability to pay medical expenses.


Based on insights from our new survey of healthcare consumers and Healthcare Information Technology (HIT) company executives, there may be some meaningful ways you can better serve your patients.

The patient experience

of consumers worry they won’t be able to afford a surprise medical bill.
of respondents indicated they had been surprised by an unexpectedly high medical bill in the last 12 months - down from 59% last year.
of consumers say healthcare payments are most difficult when compared to other industries - up significantly from 48% from last year.

What do patients want from providers?

Cost information

of consumers rely on healthcare provider staff to give them cost information while at the health facility.
call the provider's office before the visit.
say they either don’t seek this information out or don’t have a consistent source.
When a medical cost is deemed too high by a consumer. 42% talk to their healthcare provider about less expensive treatment options, and 27% choose to delay or cancel the service.

Billing

made a payment at their provider's office.
mailed a check to make a payment.

Online portals

of consumers are registered on at least one provider portal.
of these consumers visited the portal to check balances and pay bills.

Payment Innovation

While the numbers differ, the majority of both consumers (67%) and HIT company professionals (92%) say healthcare is keeping pace with other industries when it comes to payment innovation, meaning creative ways to view and pay bills.
of HIT companies offer pay by text to prompt consumer payments by phone – up 56% in the past 12 months. 94% say they have increased overall receivables collection.

Online portals offer many advantages, including increased efficiency and security, as well as shorter receivable cycles.

88% of HIT company executives have seen an increase in patient usage of contactless payments (card and mobile phone) in the last 12 months.

Be proactive

Do:

  • Set up account alerts.
  • Organize and store important documents in a safe but easily accessible location.
  • Carefully consider who has access to your accounts.
  • Check to see if your bank offers a way to grant trusted individuals limited access to your account to help you keep an eye out for suspicious activity. U.S. Bank, for example, offers Shared Access which lets your designated user receive their own username and password so you don't have to share your login credentials.
  • Understand the risks of granting access to your accounts (joint ownership, sharing login credentials and sharing credit/debit cards can make it easier to be victimized).
  • Learn about common fnancial exploitation schemes and ploys.
  • Review options with your fnancial institutions to help protect your accounts.
  • Discuss fnancial accounts only with trusted friends, family members or fnancial advisors.

Avoid financial exploitation

Do not:

  • Appoint a power of attorney to someone you do not trust to act in your interest.
  • Share your personal information (such as credit card numbers and expiration dates, bank account numbers, birth date and social security number) with people or companies you don’t know.
  • Send money to people or companies you’re not familiar with.
  • Allow strangers to come into your residence.
  • Respond to, or pay up front for, an offer that you do not thoroughly understand.
  • Sign blank forms or checks.
  • Share your logins and passwords.

 

Report: Who to call...

  • The police – Request a copy of the police report and case number.
  • U.S. Bank Fraud Liaison Center at 877.595.6256 (for U.S. Bank accounts).
  • The fraud department of any of the three credit reporting agencies to place a “fraud alert” on your credit fle: – Equifax 888.766.0008 – Experian 888.397.3742 – TransUnion 888.909.8872.
  • Your bank and/or credit card company.
  • Adult Protective Services (county or state).
  • The Federal Trade Commission for ID theft at 877.ID.THEFT (877.438.4338).
  • You can also fnd contact information at eldercare.gov or by calling 800.677.1116 (U.S. Administration on Aging).