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InstaMed Blog Archives

4 Critical Questions Payers Need to Ask About Their Employer Groups

Consumer engagement is top of mind for many in the healthcare industry. This is especially true for payers who are challenged to connect with members in the individual markets. (Read more on consumer engagement here.)

However, employer groups still make up a large portion of the covered lives for most payers. To stay competitive, payers increasingly are developing comprehensive benefits packages that include health, dental, wellness and vision plans for more attractive offerings. Yet, the billing process for these plan premiums

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Payer Security Focus: Social Engineering

When you think of a hacker, what comes to mind? Do you picture someone dressed as a burglar sitting at a desktop computer in a dark room? If you do, then it’s time to reconsider that idea. For this month’s security focus, we’re going to talk about social engineering and how it turns the hacker stereotype on its head.

Social engineering is a non-technical method of human intrusion that relies on human interaction and often involves tricking people into divulging confidential

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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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[Infographic] The True Costs of Paper for Payers

Healthcare is one of the last industries where the majority of information is primarily transmitted via paper, including: EOPs, EOBs, mailed paper statements, paper check payments, etc. Overall, the ability to support these paper-based transactions requires manual processes that cost payers significant resources – consider that 16 percent of total healthcare spending is on administrative costs. Take a look at our infographic below for more on the true cost of paper in the industry.

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Are Payers Part of Healthcare’s Paper Problem?

Healthcare is one of the last industries where most information is primarily transmitted via paper, including EOPs, EOBs, mailed paper statements and paper check payments. Overall, the ability to support these paper-based transactions requires manual processes that cost payers significant resources – consider that 16 percent of total healthcare spending is on administrative costs. .

Going paperless is a challenge for organizations of all sizes and types, requiring them to invest in new technology, change workflows, retrain employees – and the

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Payer Security Focus: Preventing Ransomware in Healthcare

Ransomware is a type of malicious cyberattack that has grown in notoriety and frequency in recent years. Like kidnapping, ransomware works by taking something valuable to an organization – such as data files – and holding it hostage until a ransom is paid.

Ransomware infiltrates an organization’s system by infecting someone’s computer with a virus, which is likely accomplished by tricking that person into clicking a link or downloading a file in a phishing email. These emails are disguised as a

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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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The Sixth Annual Trends in Healthcare Payments Report is Here!

The Trends in Healthcare Payments Sixth Annual Report: 2015 is now available to download – free of charge. For the last six years, InstaMed has released this report to objectively educate the market and promote awareness, change and greater efficiency through quantitative data from the InstaMed Network and qualitative data from healthcare providers, payers and consumers surveyed nationwide.

Click here to download the report.

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Our Top 10 Favorite Moments From the InstaMed 2016 User Conference

We listened. We learned. We collaborated. We even had a little fun. In no particular order, here are our top 10 favorite moments from the InstaMed 2016 User Conference.

See a Video Recap

Our Keynote Speaker Emphasized the Impact of the Digital Experience in Healthcare
We kicked off our conference with a keynote presentation from Brian P. Kalis of Accenture Digital. Brian delivered a data-driven overview of the changing nature of healthcare payments, including a look at the market disruptors that are influencing

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Virtual Payments: Not Just a Phase in Healthcare

Virtual payments are an emerging payment method for payers to send payments to providers using the card networks. These payments are more commonly known as “virtual cards,” since the recipient can process them just like a credit card.

Thirty-seven percent of providers indicated that they received virtual payments from some payers.

This statistic accurately demonstrates what many providers are currently experiencing: Virtual payments are increasingly leveraged by payers as an alternative to mailing paper checks. While many believe that virtual payments are

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