The development of an automated payment network would reduce bad debt, cut administrative costs, and save billions of dollars.
While pilots are underway and some progress is being made to restructure US healthcare payments, there is still much more to be done.
As American consumers shoulder more of the burden of healthcare costs, new models are needed to facilitate payment flows, combat growing bad debt, and improve efficiency across the value chain.
A hugely inefficient payment system is ripe for transformation. The inefficiency is concentrated in the $250B that consumers pay doctors and hospitals, and the $1.3T that insurers send to these providers.