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InstaMed Blog Archives

10 Years Later – What Payers Still Need to Tackle

In 2008, we released the second white paper focused on the issue of payment assurance in healthcare. The first outlined the challenges and opportunities for providers, but this new white paper articulates what most in the industry still aren’t talking about – payers play a critical role in payment assurance for providers even as consumer payment responsibility increases. Ten years later, we have re-released the Healthcare Payments White Paper for Payers because the ability for payers to deliver payment assurance to

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Be a Better Communicator: How to Set Patient Expectations and Get Paid

The healthcare landscape is changing as patient responsibility continues to increase and providers are relying on patients – rather than only payers – for more of their revenue than ever before. Yet, the healthcare payments experience has been slow to change in response. Patients are frustrated with the confusing and inconvenient payments experiences offered to them by their healthcare providers. Providers need to evaluate their billing and payments processes and consider implementing changes that will improve the way they engage

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The Power of Payment Automation – A Customer Success Story

Increasing patient responsibility is becoming more prominent in healthcare than ever before. More patients are enrolling in high deductible health plans (HDHPs), which require patients to pay a minimum deductible amount before their health plans cover any portion of the cost. In 2010, 10 million consumers were enrolled in HDHPs. Less than a decade later, 75 million consumers are enrolled in HDHPs, a more than seven-fold increase.

The trend of increasing patient responsibility requires providers to rely on patients for a

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3 Resolutions to Push Payers Into the Digital Age

For years, industry experts have been proclaiming that consumerism will be the wave of the future in healthcare. However, that prediction is now a reality. For payer organizations, “business as usual” will now mean connecting with members on their terms – digitally. But, there’s no reason to reinvent the wheel. Instead, payers can look to leaders in other industries who have already set a high bar for digital interactions with consumers. Here are three resolutions to help payers finally enter

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White Paper: 5 Issues More Relevant to Providers Today Than Ever

In 2007, we released the definitive white paper to educate providers on the phrase “healthcare payments” and shed light on the coming wave of change brought by increasing payment responsibility for patients. Now, more than ten years later, we have re-released that white paper because the topics are more relevant today than ever before. Keep reading for five highlights from the white paper and then be sure to download it below for the full story.

Re-release: Healthcare Payments White Paper for

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10 Healthcare Payments Lessons of 2017

In 2017, we talked about trends impacting the healthcare payments industry, new consumer preferences, advancements in payment technology, emerging security threats and more. Here are ten important healthcare payments lessons of 2017.

1. Stop Making Excuses for Your Patient Portal

According to HIMSS, an effective patient portal is one that contains the information patients want and is easy for patients to use. But healthcare providers know that when you integrate payment functionality into your patient portal, you give patients more conveniences like

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The Time for Payment Integration in Healthcare Is Now

Payment integration has been around in healthcare for a long time. Since InstaMed was founded, we’ve been delivering new ways to integrate payments into healthcare organizations’ systems. Integration options range from automated payment posting all the way to fully embedding payment functionality within a provider’s clinical portal. Historically, providers determine the level of payment integration they require based on their business needs. Lately, there is a greater urgency among healthcare providers for new and easier ways to integrate payment. We’ve

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Where’s the Money? Current and Future State of Healthcare Payments for Payers

The concept of health insurance in the U.S. first started during the Great Depression when Baylor University Hospital in Texas offered teachers the benefit of prepaid hospital expenses for a $5 per month fee. However, it wasn’t until World War II that health insurance became a widespread benefit offered by employers. WWII forced employers to rely on “fringe benefits” like health insurance to attract more workers to meet the higher demand for resources to help fight the war, while food

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InstaMed Partners With Bridge Bank to Expand Credit Facility

PHILADELPHIA, PA and NEWPORT BEACH, CA (August 31, 2017) – InstaMed, healthcare’s most trusted payments network, announced today that it has expanded its credit facility through a new banking relationship with Bridge Bank. The new partnership will support the accelerated growth of the InstaMed Network of providers, payers and consumers.

“The InstaMed Network is connecting providers, payers and consumers across the U.S., including every national and regional payer and 9 out of the top 10 children’s hospitals,” said Bill Marvin, President

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Payers, What Does Age Have to Do With Healthcare Payments?

Healthcare spending grew to $3.48 trillion in 2019 and is expected to reach $6.2 trillion by 2028 (Centers for Medicare & Medicaid Services). Much of this growth has been and continues to be spurred by increasing consumer responsibility for both healthcare services and health plan premiums.

Consumer payment responsibility for healthcare services has increased. This is partly due to high deductible health plans, which have become increasingly popular with employer groups and in the individual market. In 2010, 10 million consumers

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