The Trends in Healthcare Payments Twelfth Annual Report is featured in a RevCycleIntelligence article. The article focuses on the trends facing each healthcare stakeholder, especially consumers who owe more for medical bills and premiums. These increases contribute to financial struggles of consumers.
Read the full article, Consumers Faced Surprise Medical Bills, Payment Struggles in 2021, in RevCycleIntelligence. Below is an excerpt from the article.
The majority of consumers faced surprise medical bills in 2021 and expressed concern about financial hardships due to outstanding healthcare costs, InstaMed’s 12th annual Trends in Healthcare Payments report found.
The report included data obtained from $460 billion in healthcare payments processed on the InstaMed platform and survey responses from consumers, providers, and payers across the country.
Consumer finances have improved since the start of the pandemic, with more than half (65 percent) of the general population reporting that they were in good financial health. Financial support from the government may have played a role in this, as 53 percent of consumers used stimulus checks to pay bills, and 30 percent directed the checks toward paying down debt.