Rising costs. Confusing bills. Delayed collections. The payment experience in healthcare is no longer just a back-office issue—it’s a central part of the patient journey and a growing concern for providers.
As patients take on more financial responsibility, practices are under pressure to modernize outdated billing systems, address growing dissatisfaction, and improve transparency. The Fifteenth Annual Trends in Healthcare Payments Report from J.P. Morgan Healthcare Payments provides a detailed snapshot of the current landscape, backed by data from consumers, providers, and payers.
In this blog, we highlight key findings from the report and share how Greenway Health Pay® powered by InstaMed® is helping practices simplify the billing process, improve collections, and support better patient experiences.
A promising financial outlook, but challenges persist
Despite ongoing uncertainty in the broader economy, more than 70% of business leaders do not expect a recession in 2025. That’s good news for healthcare providers, but a strong financial outlook doesn’t eliminate the operational and patient experience challenges that remain.
In 2024, Change Healthcare experienced a major cyberattack, disrupting healthcare organizations nationwide. 36% of physician practices experienced a suspension of claim payments, and many reported financial impacts and delays that added further pressure to revenue cycle operations.
Patients are paying more and demanding better
Today’s consumers are more financially invested in their care than ever before. The report notes that deductibles are 47% higher than average annual deductibles a decade ago, and 50% of consumers say they’ve received a medical bill with a balance of $400 or more.
At the same time, the experience doesn’t meet expectations. A staggering 67% of consumers are confused by their medical bills, and 87% say it’s important to know how much they’ll owe before visiting their provider.
This confusion leads to delayed payments, reduced satisfaction, and greater frustration. And with 54% of U.S. adults rating the overall quality of healthcare as fair or poor, the payment experience has become another source of dissatisfaction—and an opportunity to rebuild trust.
Practices must recognize that consumers have become true financial stakeholders in healthcare. That means offering a payment experience that meets their expectations through clear communication, accessible tools, and flexible payment options.
133% increase in providers who identified patient collections as their primary revenue cycle concern*
*since 2011
Providers are feeling the pressure, too
From front office staff to practice administrators, billing is a burden. For many providers, collecting from patients takes more than a month—adding administrative strain, increasing costs, and disrupting cash flow.
It’s no surprise that there has been a 133% increase in providers who identified patient collections as their primary revenue cycle concern since 2011, according to the report. While that number may reflect overlapping concerns, the message is clear: providers need a better way to manage the patient billing process.
Beyond being slow, the patient collection process is riddled with inefficiencies. The report reveals an urgent need for modernization and automation across the industry.
The case for healthcare payment innovation
The 2024 report underscores the growing importance of technology-driven solutions. From AI-based analytics to digital-first platforms, innovation now plays a crucial role in helping practices simplify billing, reduce errors, and improve the overall payment experience.
Greenway Health Pay was designed with this need in mind. Built in partnership with J.P. Morgan Healthcare Payments, it delivers a modern, secure solution for managing healthcare payments, offering:
- User-friendly patient statements that reduce confusion
- A secure patient payment portal for convenient, online medical payments
- Multiple payment channels, including text, email, and contactless options
- Tools that reduce paper, simplify workflows, and accelerate time to payment
With Greenway Health Pay, practices can reduce administrative overhead while offering a better billing experience for patients. For an overview of its benefits, visit the Greenway Health Pay benefit page.
Get the full story
The data shows that patients want more visibility, providers need better tools, and healthcare payments are overdue for transformation. As the report makes evident, the industry is ready for change—and solutions like Greenway Health Pay are leading the way.
To explore more insights, including how payer trends and security concerns are evolving, read the full report
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