Boston, February 29, 2016 – As medical bill payments rise as the dominant consumer healthcare payments market, healthcare providers and their payments vendors add digital payment channels and expanding payments options, such as financing and payment plans, at the point of service. Continued momentum down this path caters to electronic payments adoption and requires getting electronic bill payments and presentment vendors off the sidelines.
This report sizes the commercial health insurance medical bill payments market for bill payment vendors, payment processors, and payment networks. It is based on data collected over the years via Aite Group-sponsored consumer research, data contributed by healthcare providers and payment processors, and Aite Group interviews with industry executives across treasury banks, payment networks, and claims clearinghouses in January 2016. It mentions Change Healthcare, JPMorgan Chase, MasterCard, PayPal, RelayHealth, Stripe, and WEX.
This 26-page Impact Report contains 16 figures and eight tables. Clients of Aite Group’s Health Insurance service can download this report.