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The “Trends in Healthcare Payments” annual report delivers in-depth insight on the challenges facing the industry. Now in its fourteenth year, the report reveals signs of financial recovery for healthcare, while navigating various emerging trends and a deep disconnect with consumers.
After years struggling amid the COVID-19 pandemic, financial recovery may be on the horizon for the healthcare industry. However, the upward trends are not without challenges. Cyberattacks, staffing shortages and increasing costs are just some of the trends facing the industry.
48%
of providers were challenged by staffing shortages and increasing labor costs
37%
of payers were challenged by high dollar claims
50%
of providers were challenged by large patient balances
71%
of providers collect from patients with paper and manual processes most often
75%
of consumers want to pay medical bills online
Learn more at our webinar
Healthcare’s status quo is facing challenges from all directions. This year alone, healthcare stakeholders had to navigate breakthroughs in artificial intelligence and increasing use of obesity drugs. However, will any of these emerging trends solve healthcare’s fundamental challenges?
59%
of consumers are comfortable with artificial intelligence in their healthcare experiences
73%
of consumers preferred the convenience that retail stores offer over traditional healthcare services
Each year the “Trends in Healthcare Payments” annual report is published by J.P. Morgan Healthcare Payments to objectively educate the market and promote awareness, change and greater efficiency. Now in its fourteenth year, the mission of the report has not changed.
The report uses quantitative data derived from the InstaMed Network and qualitative, independently gathered data from the InstaMed Healthcare Payments Surveys of consumers, providers and payers nationwide. Third-party sources are also used to analyze the market from the perspective of all stakeholders.
Payments
Understanding purchasing cards
Mar 28, 2024
Typically used for B2B purchases, purchasing cards can provide enhanced visibility, control, fraud protection and other benefits.
Payments
“Trends in Healthcare Payments” annual report
Mar 26, 2024
Every year, J.P. Morgan Healthcare Payments releases this data-driven report to highlight the latest payments trends impacting the healthcare industry.
Payments
Understanding virtual credit cards
Mar 22, 2024
Virtual cards are an efficient and secure way to issue payments—without the need for a plastic card.
Payments
Understanding corporate credit card programs
Mar 21, 2024
Corporate credit cards can be powerful tools that help make purchasing and reporting safer, faster and more convenient.
Payments
Let’s connect at Web Summit Rio! April 15 - 18 Booth E343 in Pavilion 3
Mar 19, 2024
At J.P. Morgan, we’re reimagining the possibilities of payments. Visit our Latin America experts and learn how we can simplify your payment processes, from making and accepting payments to managing funds. Our solutions are designed to optimize every aspect of your business.
Payments
J.P. Morgan Payments launches new System Integrator Program
Mar 19, 2024
New program for professional service companies aims to help joint clients advance payments strategy and implementation.
Payments
Will every company build a fintech?
Mar 18, 2024
For businesses looking to build their own in-house fintechs, it's important to establish a strong foundational payments strategy.
Payments
Embedded banking evolves to deliver enhanced payment experiences
Mar 14, 2024
J.P. Morgan Payments’ embedded banking suite of solutions empowers clients to diversify their business models and drive new revenue opportunities.
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