Small relative to other segments of the healthcare market, the patient-to-provider payments market represents plentiful opportunities for stakeholders.
Boston, July 2, 2012 – A new report from Aite Group details current and anticipated growth in patient-to-provider payments, in both dollar and transaction volumes, through 2015. It also provides a breakdown of methods used by consumers to pay various types of healthcare providers.
The patient-to-provider payments market represents approximately 11% of the total US$2.7 trillion healthcare market. Although this segment constitutes a small portion of the overall healthcare market, it is ripe with opportunities for multiple entities, especially dental practices and small and midsize providers, to establish their footprint. Over the past few years, opportunities in the patient-to-provider payments market have caught the attention of various stakeholders: financial institutions, payments processors, and healthcare vendors. These stakeholders have begun to focus on creating solutions or partnering with payments solution vendors to streamline patient-to-provider payments.
“Consumers’ growing responsibility for their own healthcare spending is helping push provider adoption of patient-to-provider payments solutions,” says Kunal Pandya, senior analyst with Aite Group and author of this report. “Aite Group estimates the total patient-to-provider payments market will grow from US$304 billion in 2011 to US$362 billion by 2015."
This 38-page Impact Report contains 41 figures. Clients of Aite Group’s Health Insurance service can download the report at the icon on the right.