Healthcare Payments

 Since some early work with Fiserv customers, I have been fascinated by Healthcare payments. On the provider site, insurance companies for years had received one group policy payment, often via wire, to cover employees. Then in 2011, the market exploded with the Affordable Care Act (ACA aka Obamacare) where individuals could buy policies on marketplaces. That means that the insurance companies had to move from the one payment to x policies design to a one payment to one policy design.

Today's blog draws some content from Payments Dive on this subject. Essentially JPMC did a survey on the process of consumers and found that Healthcare payments remain a challenge:

  • Refunds / chargebacks / returns remain an ambiguous process subject to a lack of rules.
  • Posting time is variable
  • Payment methods (eACH, Visa, Mastercard) are not very progressive. No PayPal, Venmo, ApplePay
  • Limited Buy Now Pay Later (BNPL) options
I just had to make a lab payment. My experience is probably not atypical:
  1. I had to enter the LAB code (why?) and Account Number
  2. I entered Account Number wrong but it apparently had no check digit so not an immediate rejection.
  3. I tried to use eACH but bot an ambiguous error message.
  4. Switched to card and it went through successfully

What is your experience?


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