Deirdre Ruttle, Vice President of Strategy at InstaMed, discusses the inefficiencies and costs associated with paper billing.
Read the full article, Picture This: Mobile Payments Remove Billing Inefficiencies, in RCM Advisor. Below is an excerpt from the article.
The digital revolution is in full swing, as paper processes disappear across industries. Mail volumes declined by 5 billion pieces or almost 4 percent in 2017, according to the United States Postal Service. Online shopping increased six times faster than brick-and-mortar shopping during the 2017 holiday shopping season (First Data), while a record 7,000 retail stores closed or were set to close in 2017 (Fung Global Retail and Technology). The world we live in is being shaped by tech giants like Apple, Amazon, and Uber who are giving us access to more and more at our fingertips. Yet, the healthcare industry has somehow managed to resist the digital revolution and continue to rely on inefficient paper processes.