Philadelphia, PA (May 8, 2012) – InstaMed, the leading Healthcare Payments Network, has announced the release of the 2011 Trends in Healthcare Payments Annual Report. This report features healthcare payment-related trends and data from the InstaMed Network, which powers healthcare payments for over 200,000 providers nationally.
“Our second annual report shows our commitment to educating the market and promoting awareness, change and greater efficiency across the industry,” said Bill Marvin, President and CEO of InstaMed. “By leveraging data from the InstaMed Network, we are able to present comprehensive data, representing all constituents of the healthcare payments process from all 50 states. We believe that sharing our data, knowledge and insight into healthcare payments is important to the communities of providers, payers, patients and service providers.”
The data released in this report demonstrates the changes impacting the healthcare industry, as the rise of consumerism and healthcare reform drives higher patient responsibility and the need for greater administrative efficiency. As the industry evolves, there will be an increasing need for participants to utilize different payment methods, including electronic payer and patient payments, to reduce bad debt and to operate more efficiently.
The report also features trends based on qualitative data obtained from healthcare providers, payers and patients nationwide. The 2011 Trends in Healthcare Payments Annual Report is available to the public free of charge at www.instamed.com.