Brooke Murphy: 11 Key Statistics About The Healthcare Payment Market

1. By 2024, CMS estimates that nearly $1 of every $5 will be spent on healthcare in the U.S
2. Nine in 10 consumers want to know their payment responsibility upfront
3. Almost two-thirds of consumers express interest in using mobile payment systems for healthcare bills
4. Currently, 87 percent of consumers report getting healthcare bills in the mail
5. Nearly 96 percent of payers said they still pay a portion of their providers via check
6. Consumers reported that they were confused by an explanation of benefits they received from their health plan and by bills from their providers
7. The healthcare payment market was estimated at $3.3 trillion in 2015
8. Insurance deductibles have increased by 255 percent since 2006
9. Creeping healthcare costs and the popularity of high-deductible health plans has created an uptick in patient responsibility
10. As consumers bear a larger burden of medical expenses, providers have experienced increased difficulty in collecting outstanding balances
11. 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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