As the world attempts to return to some semblance of normal, it’s become clear that some changes necessitated by the lingering COVID-19 pandemic will be permanent. Among them is the consumer preference for more payment options, including touchless transactions. This shift is particularly pronounced when it comes to paying for healthcare services.
A recent survey by InstaMed found that 78% of patients want contactless payment options to remain when the pandemic finally dissipates. While the same study revealed that 36% of healthcare providers implemented a contactless payment system in response to the pandemic, most still rely on paper-based billing systems for patient collections. It’s time for healthcare billing to take a massive leap forward.
Time to Transform
As an industry, healthcare must adopt the latest technological advancements and implement billing mechanisms that meet evolving consumer expectations. In retail settings, app-based transactions via Venmo, PayPal, Apple Pay, Google Pay, and even blockchain- and points-based systems give consumers choice and flexibility. A 2020 study by Forrester revealed that 67% of retailers accepted at least one form of no-touch payment, and that number is undoubtedly even higher today.
By Joe McMurray – SVP of Patient Experience at Zotec Partners
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