How healthcare payment solutions can evolve to capture patients’ willingness to pay

More than two years after COVID-19 forced businesses to accelerate their digital strategy, consumers are permanently evolving their payment preferences in favor of digital formats, and businesses are adapting to consumers’ needs. In 2022, more than 53% of e-commerce merchants expanded payment methods to include digital wallets, QR payments, and digital invoicing.

Similar trends can be observed within the healthcare provider landscape, with 74% of patients preferring online payments for medical bills[2].  However, currently about 70% of patients still receive medical bills via mail[3] with real financial implications to bottom line performance and patient experience. To respond to this, healthcare finance leaders are looking for new and innovative payment solution partners to improve their digital engagement strategy to offer flexible and digital payment options.

Simon-Kucher & Partners’ provider market understanding revealed about half of healthcare…