The COVID-19 pandemic created upheaval for all healthcare stakeholders except one. Payers seemingly thrived in 2020, according to the Trends in Healthcare Payments Annual Report, with revenue growth and renewed potential for the individual market. Indeed, survey sentiment shows payers were optimistic on such topics as member experience.
However, that optimism did not line up with the reality of payer outlook. This was especially evident in the trends in premium collections. Other trends, such as sluggish member portal adoption and low NPS scores, also show how much of a disconnect that payers face.
Payers maintain the unique position of connecting all stakeholders in healthcare payments. As such, payers play a vital role in shaping industry trends. Payers can drive digital payments throughout the industry. This momentum and leadership are needed now more than ever.
Featuring Jeff Lin, Chief Product Officer at InstaMed, the full Trends in Healthcare Payments Eleventh Annual Report was discussed during a webinar for the report’s launch.
Watch the webinar excerpt to better understand the trends impacting payers and what the path forward may hold.