The pandemic is continuing to throw typical business operations for many industries into flux, resulting in disastrous financial consequences. Small- to medium-sized businesses (SMBs) in particular are struggling against the loss of revenue, something that has already led more than 100,000 SMBs within the United...
Healthcare providers were facing problems with slow, disorganized disbursements before COVID-19 shook the industry to its core. There was already disparity in how patients were receiving funds from providers and the methods they wanted to use, with one pre-outbreak Ingo Money study noting that less...
Complex billing codes and paper-based disbursements have long troubled independent primary care practitioners — frictions that result in treatment delays during the pandemic. Andrew Toy, chief technology officer for health insurance provider Clover Health, explains how machine learning can help resolve billing issues, disburse payments...
Financial pains are all too common for patients and service providers in the healthcare industry. Patients can struggle to afford the high costs associated with medical care, and hospitals can struggle to keep the lights on when bill payments trickle in slowly. These were significant...
Financial institutions (FIs), businesses and healthcare providers are adjusting their operations to suit the new reality that the COVID-19 pandemic has caused. Healthcare provideers, for example, are turning to telehealth solutions to service patients for routine appointments as to keep those individuals from entering hospitals...
U.S. patients were notoriously overburdened by healthcare costs even before pandemic-related job losses added new financial strains. These high costs and long reimbursement waits often lead cash-strapped consumers to skip critical treatments altogether. In the Faster Healthcare Payments Report, PYMNTS speaks with the National Patient...
The United States healthcare system is notorious for burdening patients with hefty expenses — a reality that existed long before the COVID-19 pandemic turned a national spotlight onto the issue. Financially-strained consumers can struggle to afford medicine and treatment for a variety of conditions, and...
CVS Health has agreed to return $43.3 million in payments it received through the CARES Act’s Provider Relief Fund, Fox Business reported. In a letter to Health and Human Services (HHS) Secretary Alex Azar on Tuesday (May 19), CVS President and CEO Larry Merlo wrote...
The U.S. Treasury Department and the IRS are planning to send out around 4 million Economic Impact Payments (EIP) via Visa prepaid debit cards rather than paper checks this week, according to a Treasury Department press release. The EIP cards can be used for purchases,...
