The reality is that ACH typically only covers 80% of healthcare transactions. Short-term strategies should focus on incremental steps that allow for the evolving world of faster payments. But this is merely the foundation for maturing digital payment strategies. You may have taken the plunge into electronic payment by implementing automated clearing house (ACH) payments. Meaning: You’re simply not getting the most out of your current systems. Few organizations considered long-term viability or coming advances when setting their plan in place. While many payers have implemented some form of electronic payment, many initial technology deployments were launched to meet compliance requirements as a response to market pressures. Private health plans alone spend $158 billion on administrative costs each year, with average administrative costs per payer hovering around 17.8%.

healthcare system racks up higher administrative costs than any other healthcare system. And 86% of patients receive paper medical bills. In fact, only 20% of patients make online healthcare payments. 82% of consumers want to make their healthcare payments in one place, and 85% of consumers say they prefer an electronic payment method for their medical bills-yet most providers still send out paper bills.

Mediacom bill pay one time