Since the Trends in Healthcare Payments Annual Report was first published by InstaMed in 2011, the trends have overwhelmingly demonstrated that patients owe more for medical services in the healthcare industry. The evidence in this year’s report is no different. In his latest installment for The American Journal of Accountable Care, InstaMed CTO Chris Seib discusses how the trends in healthcare payments focus on consumer experience as the new normal.
Read the full article, Trends in Healthcare Payments: Focus on Consumer Experience as the New Normal, in The American Journal of Accountable Care. Below is an excerpt from the article.
As payment responsibility for medical services increases, consumer experience will become a necessary focus for healthcare to ensure customer loyalty and future longevity.
A major contributor to this trend is the increasing number of patients enrolled in plans with deductibles. In 2017, 81% of covered workers had a deductible that had to be met before most services were paid by their health plan. Among all patients younger than 65 years with private health insurance, nearly 43% had a plan with a deductible in the first 3 months of 2017, up from 39% in 2016.