“The COVID-19 pandemic is taking its toll across the healthcare sector, and from a payments standpoint, the legacy mechanisms in place today to pay out the increased number of claims disbursements — check and ACH — are far from ideal. Checks are costly to health insurers and can take weeks to arrive to the intended recipient. ACH, while faster, may still not be fast enough. The pandemic is appearing to disproportionately affect lower-income households, many of which may be unbanked, so getting claims payments distributed as quickly as possible is critical to helping these consumers pay for basic necessities like rent, utility and grocery bills.

Opportunity lies in an instant payments solution. A 75 percent share of disbursements recipients in a recent PYMNTS study said they wanted to receive instant payments because they gain instant access to funds. Businesses and banks across industries, including auto and property insurance, are beginning to make the shift. These companies are paving the way, and healthcare is the next insurance type primed for innovation.

By leveraging an instant payments platform that delivers choice, consumers can select where they want their healthcare claim payments sent — immediately to bank accounts they own, to prepaid cards or even mobile wallet accounts.

There are challenges to execution, as healthcare payments involve multiple parties, consideration of Health Insurance Portability and Accountability Act privacy rules and document sharing for explanation of benefits. The evolution is upon us as industries move toward a fully digital experience that can provide customers with the best possible customer experience.”

Drew Edwards
CEO at Ingo Money

Talk to Us

Disbursements Tracker

Table of Contents

    A look at the latest disbursements developments, including how healthcare providers are struggling with related innovations and why the U.S. government is still experiencing problems disbursing stimulus checks to its residents
    An interview with Andrew Toy, president and chief technology officer at health insurance startup Clover Health, on why check disbursements to healthcare providers are especially damaging during the COVID-19 pandemic and how digital payouts can help
    Recent disbursements headlines, including how health worries could be driving mobile disbursement tools’ adoption in the U.S. and why instant payment ubiquity is becoming critical for businesses
    An in-depth analysis of how the COVID-19 pandemic is affecting perceptions and uses of digital technologies and payment methods in the healthcare industry
    A look at the top disbursements companies, including two additions: Mamo Pay and Rapyd
    Information on PYMNTS.com and Ingo Money



Additional Resources

Getting Payors On Board The Instant Payments Bandwagon

Getting Payors On Board The Instant Payments Bandwagon


Payments Flash-Forward: Why December 2020 Will Be One To Remember

Payments Flash-Forward: Why December 2020 Will Be One To Remember

Read Article

Fund Loans and Collect Loan Payments in Real-time with Ingo Push

How Instant Payments Ignited In Just Three Short Years