Managed Healthcare Executive features insight from Deirdre Ruttle, Chief Marketing Officer at InstaMed on the Trends in Healthcare Payments Eleventh Annual Report and the vital role that payers have in shaping industry trends. This leadership from payers is needed now more than ever.
Read the full article, With a Digital-First Approach, Payers May Hold Key to Healthcare Payments, in Managed Healthcare Executive. Below is an excerpt from the article.
Trends in healthcare payments indicate that payers saw revenue growth and renewed potential for the individual market, while the COVID-19 pandemic caused considerable financial strife for other industry stakeholders. Additionally, payers are well-positioned for growth in the individual member market. Although the individual mandate penalty has been repealed, nine in 10 enrollees intend to keep buying insurance. According to the Trends in Healthcare Payments Eleventh Annual Report, payers were highly confident of member loyalty and in their prioritization of consumer payment preferences. This payer sentiment does not necessarily match the reality of the member relationship. The disconnect is especially evident in data on low member engagement with health plan portals and friction in premium collections.