- Results available now – second annual healthcare technology adoption survey provides industry benchmark on technology adoption
- Patient’s inability to pay seen as biggest revenue cycle and collection challenge facing providers
- IVR utilization increases from 7% to 50%
Phoenix, Ariz. – February 23, 2018 BillingTree®, the leading payment technology provider, today released the findings of its second annual Healthcare Operations and Technology Survey. The report found a dramatic increase in the number of providers offering an interactive voice response (IVR) payment option for patients, up to 50% from 7% last year. Additionally, practices accepting patient responsibility payments via web portals increased from 67% to 75%.
The latest Healthcare Operations and Technology Survey was conducted over a one-month period in the last quarter of 2017 and now provides a healthcare industry benchmark. It found the biggest challenges facing providers were a patient’s inability to pay, collecting payments after leaving the facility, a lack of payment channels, compliance, and issues related to insurance billing.
Factors impacting a healthcare provider’s choice of payment provider included financial reporting and HIPAA compliance as the top two priorities. Compliance and integration were consistent with the previous survey results, and a premium placed on reporting reflected a new trend.
Looking to the future, technology adoption continues to remain a key focus. Over the next 12 months, 63% of respondents currently not offering one, plan to implement a patient payment portal – an increase of over 40% compared to the previous year’s findings.
“Having collected healthcare industry data for two consecutive years, we can see significant trends starting to emerge. One key development is the priority placed on technology adoption,” said Dave Yohe, BillingTree’s VP of Marketing. “SMS and Mobile payment offerings, like statements using QR Codes for fast mobile access to payment forms, are two emerging technologies also trending in the healthcare industry.”
To request a complimentary copy of the Healthcare Operations and Technology Survey, visit: https://start.mybillingtree.com/acton/media/15831/2018-healthcare-survey-report
BillingTree® is the leading provider of integrated payments solutions to the Healthcare, ARM, Property Management, B2B, and Financial Services industry verticals. Through its technology-enabled suite of products and services, BillingTree enables organizations to increase efficiency and decrease the costs of payment processing while adhering to compliance regulations. Leveraging more than a decade of market experience, BillingTree is dedicated to growing payments with technology through an integrated omni-channel offering, suite of proprietary products and value-added services, and a company-wide focus on delivering extraordinary customer service.