Channel Sponsor - Coding/Billing/Collections

Sponsored by National Medical Billing Services | | (636) 273-6711

Will Apple disrupt medical billing? Unlikely, market player says — 5 insights

Apple may not want to get involved in the medical billing space, according to patient financial management platform FinPay.

FinPay's five reasons Apple might be wary of entering the space, despite speculation it may be heading that route:

1. Using a debit or credit card is arguably as easy as using Apple Pay, and not all patients are tech-savvy.

2. Patients should have the option to spread out payments over time; they likely can't afford to pay a $3,000 bill through Apple Pay all at once.

3. Apple Pay isn't a great option for patients with a high-deductible plan, no insurance, out-of-network care or specialty treatments. Apple would need to provide a patient financial responsibility estimate, which isn't easily achieved.

4. Apple would also need to establish a bank partnership to provide loans or manage payment programs.

5. It would take a significant investment in technology and human capital for Apple to own the medical billing space, and anything less than a complete takeover would hurt the company's reputation.

More articles on coding, billing and collections:
4 ways Apple could transform medical billing
The 5 biggest health insurers in 2018 by membership
The 4 ASC payment trends to watch — Bundled payments, price transparency & more

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Webinars

Featured Whitepapers