Fact Based List:
Brooke Murphy: 11 Key Statistics About The Healthcare Payment Market
Submitted by Anonymous on Wed, 06/29/2016 - 16:22
- By 2024, CMS estimates that nearly $1 of every $5 will be spent on healthcare in the U.S
- Nine in 10 consumers want to know their payment responsibility upfront
- Almost two-thirds of consumers express interest in using mobile payment systems for healthcare bills
- Currently, 87 percent of consumers report getting healthcare bills in the mail
- Nearly 96 percent of payers said they still pay a portion of their providers via check
- Consumers reported that they were confused by an explanation of benefits they received from their health plan and by bills from their providers
- The healthcare payment market was estimated at $3.3 trillion in 2015
- Insurance deductibles have increased by 255 percent since 2006
- Creeping healthcare costs and the popularity of high-deductible health plans has created an uptick in patient responsibility
- As consumers bear a larger burden of medical expenses, providers have experienced increased difficulty in collecting outstanding balances
- Seventy percent of providers report that it takes one month or longer on average to collect payment from a patient
Source: Becker's Hospital Review
Source URL: http://www.beckershospitalreview.com/finance/11-key-statisti...
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