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.”
CEO at Ingo Money
Table of Contents
- WHAT’S INSIDE
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
- FEATURE STORY
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
- NEWS AND TRENDS
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
- DEEP DIVE
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
- PROVIDER DIRECTORY
A look at the top disbursements companies, including two additions: Mamo Pay and Rapyd
Information on PYMNTS.com and Ingo Money