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2 ways healthcare's outdated billing process hurts provider revenue

Healthcare providers and collections firms are investing in digital payment solutions to overcome issues associated with current practices, Business Insider reports.

Here are two ways outdated systems hurt revenue:

1. Healthcare providers spend $9.5 billion each year on administrative tasks such as coverage verification, sending and receiving bills and obtaining prior authorization.

2. More than half of U.S. adults say they've received a surprise medical bill, which could deter them from coming back to a facility for care.

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