Source: InstaMed, a J.P. Morgan company
The Burden of Rising Healthcare Costs
The 10th edition of the Trends in Healthcare Payments Annual Report reveals that rising costs continue to influence consumer healthcare decisions. The data also shows that demographics, including gender and age, can exacerbate the impacts on individual consumers. The demand for a digital, streamlined payments experience continues to grow as consumers come to terms with the burden of higher payment responsibility.
The On-Demand Economy
In today’s digital world, the majority of U.S. adults report having one or more digital connections. Many consumers primarily leverage smartphones to go online, a trend that has almost doubled in less than a decade. Social media is now commonly used by consumers to connect digitally, growing quickly since popular sites were first introduced. The digital connection empowers consumers to seek out services on-demand.
The Streamlined Payments Experience Consumers Want
The digital world influences consumer preferences for healthcare payments. While the demand for options like online payments and eStatements grows, the industry has been slow to deliver, resulting in negative experiences for consumers. These negative experiences can impact patient loyalty, which can ultimately affect a provider’s bottom line.
How does the digital world we live in influence consumer demands? View the infographic below to learn more about the streamlined payments experience patients want from healthcare.