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Trends in Healthcare Payments Fourteenth Annual Report: 2023

Available now: Trends in Healthcare Payments Fourteenth Annual Report

Financial recovery seems to be on the horizon for the healthcare industry, yet strong headwinds may slow any real progress. From staffing shortages to high operational costs, healthcare is navigating its share of economic challenges. Discover these trends and more for the full healthcare payments landscape with the latest report.

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A Complete Solution to Optimize Healthcare Payments

Improve payment collection, empower consumers to take control of their healthcare finances and simplify billing processes with contactless, digital healthcare payment solutions that integrate into your existing workflows.

Office administrator holds a digital payment device for a patient to make a copayment for her doctor visit.

Enhance the Entire Healthcare Financial Experience

We know healthcare billing and payments, and we have solutions to grow the financial well-being of your entire healthcare organization. Our HIPAA-compliant technology is specifically designed for the healthcare industry to simplify processes and reduce costs for hospitals, health systems, medical practices, clinics, health plans and other payers. Accelerate your revenue cycle, boost consumer satisfaction and collect more with our secure, cloud-based platform.

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Drive Efficiency and Get Paid Faster

Improve your healthcare business operations with digital solutions that help boost staff efficiency and increase cash flow. Drive electronic transactions through more channels and automate processes to reduce paper and expedite payment processing.

Older man smiles while holding an iPad to pay his healthcare bill.

Improve Consumer Engagement

Optimize every healthcare payment touchpoint with easy-to-use solutions that meet consumer preferences and enhance financial engagement. Build loyalty and increase satisfaction with personalized digital-first billing. Enable safe and convenient payment options with contactless point-of-sale terminals, mobile wallets like Apple Pay® and Google Pay™, text-to-pay and online payment portals.

Laptop shows screen to access InstaMed’s API for integrating clearinghouse and payment transactions.

Seamless System Integration

Eliminate the complexities and costs of working with multiple vendors. Our solutions integrate with your EHR/EMR, patient accounting and practice management systems to simplify workflows, reduce risk and make the payments experience better for everyone.

Optimize Your Revenue Cycle and Expand Payment Channels

Consolidate vendors with one partner for all payments, including patient payments, payer payments and scannable lockbox. Automate posting and reconciliation, drive more electronic transactions and open new payment channels without disrupting workflows or increasing compliance scope.

Revenue Cycle Solutions

Increase eStatement Adoption: A Toolkit to Enroll More Patients in eBills

Do you want to give patients an easy way to view and pay their healthcare bills while reducing manual processes for your medical practice? Download our new toolkit with email templates, scripts for patient conversations and more to help you drive paperless billing today.

Get the eStatement Adoption Toolkit

We Make Healthcare Payments Better for Everyone

InstaMed, a J.P. Morgan company delivers advanced technology solutions to help you enhance performance across all financial areas of your healthcare business. We have deep expertise in banking and treasury as well as in the payment and security needs that exist for organizations of all sizes and specialties.

About Us

With JPMorgan Chase and InstaMed, we trust our payments meet the highest security and controls standards that is combined with payment innovation and efficiency required in today’s market. Plus, with InstaMed, we have streamlined our payments with a single source for posting and reconciliation across Virtua.

Robert Osler,
Assistant Vice President for Treasury, Virtua Health, 2021

We value the relationships with our patients and didn’t want higher balances due to deductibles to get in the way of that. InstaMed helps Alabama Medical Group give patients a simple and convenient payment experience. Plus, the billing department does less but collects more than ever!

Kristyn Ford,
Executive Assistant, Alabama Medical Group, 2019

Boston Children’s looks to InstaMed as a dedicated partner that shares our vision of a better payment experience for families. InstaMed has helped stop the loss of money due to missed collection opportunities, which allows us to keep the lights on as they say and remain independent.

Kevin Pawl,
Senior Director of Patient Access, Boston Children’s Hosptial, 2019
Independently Certified for Both Healthcare and Payments Security and Compliance
EMV Certified Healthcare Payment P2PE PCI Validated HIPAA Compliant PCI Level 1 Standards for Attestation Engagements (SSAE) No. 18 SOC 1 and SOC 2 Type II Health Information Trust Alliance (HITRUST) Common Security Framework (CSF)

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Let the InstaMed team put together a customized business case for your organization and show you InstaMed in action.

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Short Staffing Solutions for Healthcare

Address your staffing challenges with automated technology that reduces manual workloads and increases productivity.

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Employer Group Payment Trends

Learn about the healthcare payment trends that are impacting the payer-employer group relationship.

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Clearinghouse and Payment Solutions

Simplify payer payments, eligibility, claims and remittance processes. Connect all of your payers in one place.

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White Papers, eBooks and Other Resources

Access useful guides, tools, case studies and more to help improve healthcare business practices and the consumer experience.

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