Boston, March 12, 2013 – A new report from Aite Group takes on changing remittance payments dynamics in U.S. healthcare. Intended for banks and payment networks and based on a Q3 and Q4 2012 Aite Group survey of 50 small U.S. healthcare providers, the report discusses market factors, calculates revenue potential, sizes the U.S. small-practice healthcare provider market, and provides insight into banks' payment preferences.
Regulatory change has placed the world of U.S. healthcare remittance payments in flux. The total number of healthcare providers is contracting, Obamacare is set to replace paper check revenue with ACH processing revenue for banks, and the U.S. HHS has neither ruled out nor developed standards for electronic card payments. As a result, banking transaction revenue for commercial remittance payments will remain flat from 2012 to 2016--growing from US$826 million to US$965 million at a CAGR of only 3%--and treasury banks must secure the revenue they garner from small-practice healthcare providers.
“The small-practice healthcare provider market is not a growing treasury revenue opportunity,” says Michael Trilli, senior analyst with Aite Group and author of this report. “But banks that fail to advance their healthcare remittance solutions are risking their treasury business and entire banking relationships.”
This 31-page Impact Report contains 27 figures and two tables. Clients of Aite Group’s Health Insurance service can download the report.