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The “Trends in Healthcare Payments” annual report delivers in-depth insight on the challenges facing the industry. Now in its fourteenth year, the report reveals signs of financial recovery for healthcare, while navigating various emerging trends and a deep disconnect with consumers.
After years struggling amid the COVID-19 pandemic, financial recovery may be on the horizon for the healthcare industry. However, the upward trends are not without challenges. Cyberattacks, staffing shortages and increasing costs are just some of the trends facing the industry.
48%
of providers were challenged by staffing shortages and increasing labor costs
37%
of payers were challenged by high dollar claims
50%
of providers were challenged by large patient balances
71%
of providers collect from patients with paper and manual processes most often
75%
of consumers want to pay medical bills online
Learn more at our webinar
Healthcare’s status quo is facing challenges from all directions. This year alone, healthcare stakeholders had to navigate breakthroughs in artificial intelligence and increasing use of obesity drugs. However, will any of these emerging trends solve healthcare’s fundamental challenges?
59%
of consumers are comfortable with artificial intelligence in their healthcare experiences
73%
of consumers preferred the convenience that retail stores offer over traditional healthcare services
Each year the “Trends in Healthcare Payments” annual report is published by J.P. Morgan Healthcare Payments to objectively educate the market and promote awareness, change and greater efficiency. Now in its fourteenth year, the mission of the report has not changed.
The report uses quantitative data derived from the InstaMed Network and qualitative, independently gathered data from the InstaMed Healthcare Payments Surveys of consumers, providers and payers nationwide. Third-party sources are also used to analyze the market from the perspective of all stakeholders.
Payments
Madhav Kalyan: How payments can protect the core
Jul 24, 2024
At the recent J.P. Morgan China Payments Innovation Summit, Madhav Kalyan, APAC head of Payments, discussed opportunities in payments, the bank’s continuous investment in innovation and how it is transforming the future of payments and financial services.
Payments
Highlights from the 2024 J.P. Morgan E-Commerce and Fintech Forum
Jun 28, 2024
The J.P. Morgan EMEA E-Commerce and Fintech Forum brought together experts from across the fintech ecosystem to discuss the future of payments and how best to navigate 2024 and beyond.
Payments
Understanding the requirements to apply for a corporate credit card
Jun 27, 2024
Find out if your organization is eligible for a corporate card, then prepare documentation to apply.
Payments
Choosing the right credit card for your startup
Jun 27, 2024
Startups have unique, complex financial needs, and corporate and business cards can be powerful tools that simplify financial operations.
Payments
J.P. Morgan joins the MACH Alliance, advocating for open, best-of-breed technology
Jun 13, 2024
J.P. Morgan is a Supporter member, a category for leading organizations to share unique thought leadership and innovations on the future of enterprise technology.
Payments
Highlights: J.P. Morgan Payments at EBAday 2024
Jun 12, 2024
You want a fast, simple and secure way to send and receive cross-border payments. We can send in 120+ currencies and receive in 40+, across 160+ countries.¹ ² ³
Payments
Studio Science joins the J.P. Morgan Payments System Integrator Program
May 17, 2024
J.P. Morgan Payments is adding Studio Science, a customer experience consultancy, to the program to help joint clients with payments strategy and implementation.
Payments
How to protect your organization from check fraud
May 14, 2024
Check fraud remains an attractive target for fraudsters. Do you know how to prevent it?
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