The Changing Landscape Of Healthcare Payment Plans Report, produced by PYMNTS in collaboration with Flywire, surveyed 2,837 patients who had checked into a hospital or emergency room in the previous year. The report, which includes over 370 data points, highlights patient preferences in resolving their medical debt and the approaches hospitals took to resolve or collect outstanding balances.
SOME NOTABLE FINDINGS OUTLINED IN THE REPORT:
- 90.7 percent of patients said they can pay off their payment plan in full, either early or by following the plan schedule
- 89.8 percent of respondents said they would be willing to consider using a payment plan in the future, doubling the current rate of usage
- Patients who did not pay their debt and had no plans to do so faced the highest out-of-pocket average of $758
- 70 percent of patients factor in the prospect of fees when considering using a payment plan