PHILADELPHIA, PA (April 15, 2014) – InstaMed, the leading Healthcare Payments Network, has announced the release of the 2013 Trends in Healthcare Payments Annual Report. This is the fourth annual report from InstaMed and features key market trends impacting the healthcare payments industry from an objective view in order to educate the market and promote awareness, change and greater efficiency.
The 2013 Trends in Healthcare Payments Annual Report is available to the public free of charge at www.instamed.com.
The report presents quantitative and qualitative data from the InstaMed Network, which has processed over 85 billion dollars in healthcare payments from thousands of providers and payers. The latest trends featured in this report include the rise in consumer payment responsibility, the increased focus on the consumer in the healthcare payments process and the growing support for ERA/EFT (electronic remittance advice/electronic funds transfer) among payers and providers.
“Our network continued to grow rapidly, having processed more than 30 billion dollars in healthcare payments in 2013. Our position in the market gives us a front-row seat to witness the drastic changes happening in the healthcare payments industry,” said Bill Marvin, President and CEO of InstaMed. “By releasing this annual report, we are leveraging our vantage point to educate the industry and promote change to improve efficiency in healthcare payments.”
InstaMed simplifies every healthcare clearinghouse and payment transaction for providers and payers, all in one place. InstaMed enables providers to collect more money, get paid faster and reduce the time and costs to collect. InstaMed allows payers to cut settlement and disbursement costs with electronic payments. InstaMed’s single, integrated network simplifies the healthcare payments process for 1,500+ hospitals, 60,000+ practices/clinics and 100+ billing services; connects to 3,000+ payers; and integrates with 50+ practice management systems. InstaMed processes tens of billions in healthcare payments each year at a rate of more than $1,000 per second. Visit InstaMed on the web at www.instamed.com.