How Much Can Technology Improve Healthcare Payments?

Among the latest hopes for healthcare payments is blockchain.

Touted by observers and industry players as one of the top trends that could impact medical billing and data management for 2018, the technology is increasingly being viewed as part of the path to better efficiency in payments. For instance, ConnectingCare, a company that helps far-flung practitioners view patient data across different points of care, wants to use blockchain for cost forecasting and to enable direct pay options for healthcare bills.

More than 60 percent of patients in the United States do not pay the entirety of their medical bills, according to a recent study from TransUnion, which helps in the collection of those debts. That figure could rise to 95 percent by 2020.

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