Boston, December 13, 2016 –Many U.S. healthcare providers realize an electronic payment, coupled with an electronic remittance advice, simplifies their revenue cycles, but they have price and transparency concerns. Leading commercial card vendors are educating the industry and changing the narrative dogging cards, and other market principals must follow their lead to ensure that virtual card doesn’t number among the compelling payment ideas that failed due to a lack of trust between one of the transacting parties.
This Aite Group Impact Report summarizes healthcare providers’ positions on single-use virtual commercial cards and straight-through processing. Based on an Aite Group survey of 214 small and midsize U.S. healthcare businesses, the analysis compares the providers accepting virtual card with those that do not and offers commercial card businesses insight into growing volume, preventing attrition, increasing adoption, and educating the industry. It is the third in a series of reports on small and midsize healthcare businesses—the first and second are available here and here.
This 31-page Impact Report contains 29 figures and one table. Clients of Aite Group’s Health Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions Visa, Mastercard, and the Council for Affordable Quality Healthcare.