PHILADELPHIA, PA (April 18, 2011) – InstaMed, the leading Healthcare Payments Network, has announced its release of the industry’s first Trends in Healthcare Payments Annual Report. This report features healthcare payment-related trends and data from the InstaMed Network, which powers healthcare payments for over 100,000 users nationally.
“The data released by InstaMed illustrates the rapid growth of patient responsibility and quantifies the substantial impact of this trend on the industry as a whole, exhibiting how quickly patient responsibility has increased and the necessity for providers and payers to adjust their payment processes,” said Janice Young, Program Director, Payer IT Strategies, IDC Health Insights. “This report demonstrates the future of healthcare payments and the increasing importance of automation and integrated payment processing, as patient liability will continue to grow, and provider revenue management requirements will tighten.”
“The goal of this report is to educate the market and promote change across the industry,” said Bill Marvin, President and CEO of InstaMed. “We have always been dedicated to sharing our knowledge and industry insight with the healthcare and payment communities. By leveraging the InstaMed Network, we are able to present comprehensive data, which represents all constituents of the healthcare payment process from all 50 states.”
The report also includes data from a market survey, recently conducted by InstaMed, from respondents representing over 10,000 healthcare providers nationwide. The Trends in Healthcare Payments Annual Report is available to the public free of charge at www.instamed.com.
InstaMed is the leading Healthcare Payments Network connecting providers, payers and patients with healthcare clearinghouse, eligibility, estimation and payment transactions on one integrated platform. InstaMed enables providers to get paid more efficiently, payers to disburse payments at a lower cost with fewer incidents of fraud, and patients to experience a simple, convenient and secure way to pay. The InstaMed Network powers healthcare payments for over 100,000 users nationally with tens of billions of dollars in healthcare payments processed. Visit InstaMed on the web at www.instamed.com.
Download the full report: click here
InstaMed Public Relations