Healthcare providers and collections firms are investing in digital payment solutions to overcome issues associated with current practices, Business Insider reports.
Here are two ways outdated systems hurt revenue:
1. Healthcare providers spend $9.5 billion each year on administrative tasks such as coverage verification, sending and receiving bills and obtaining prior authorization.
2. More than half of U.S. adults say they've received a surprise medical bill, which could deter them from coming back to a facility for care.
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