Three trends:
1. Total expenditure in the U.S. payment market was $3.65 trillion in 2018, with that number expected to grow. By 2024, the U.S. national health spending is expected to reach $5.05 trillion.
2. While the payments market is growing, innovative technology hasn’t kept pace. Many healthcare providers still use manual processes and paper in their collections processes.
3. According to a report cited by Business Insider, patients said they want new technologies such as online portals, online bill pay and online appointment registration, but when offered these services, 30 percent of patients don’t use them.
More articles on coding, billing and collections:
CMS payment rules may signal cardiology shift to ASCs in 5-10 years
California workers’ comp fee schedule updates to take effect in days — 4 changes
Semmes Murphey Clinic CEO John Lewis on ASC reimbursement trends
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
