Aite Group expects that U.S. patient-to-provider payments will balloon to an estimated US$381 billion by year-end 2014, presenting opportunities for technology vendors to reap the benefits.
Boston, June 30, 2011 – A new report from Aite Group provides an overview of the patient-to-provider payments market and the vendors serving the space. Based on an Aite Group survey of biller direct payments vendors serving the patient-to-provider billing space, the report profiles five vendors—Alacriti, Aliasware, BillingTree, FIS, and Online Resources—and includes a comprehensive outline of their product functionality.
Aite Group expects that U.S. patient-to-provider payments will balloon to an estimated US$381 billion by year-end 2014, driven by factors such as healthcare reform, heightened interest among small and midsize providers, and improved solution design. This will provide significant opportunities to biller direct payments vendors. Aite Group expects these vendors to compete on quality of customer service, speed to market, functionality, and the ability to deliver easily customizable solutions. Vendors are also expected to increasingly compete on their ability to drive adoption using interactive voice response (IVR) and Web payments and presentment capabilities.
“Health insurance providers large and small are usually averse to changes in their back-end administrative platforms,” says Kunal Pandya, senior analyst with Aite Group and author of this report. “Biller direct vendors that demonstrate early strengths in the patient-to-provider payments market space will have more opportunities to create stickiness with their clients, and should benefit in the long term.”
This 37-page Impact Report contains 17 figures and seven tables. Clients of Aite Group's Health Insurance service can download the report.