Creating the ideal patient financial journey

March 17, 2023

With the adoption of digital technologies and process automation, healthcare organizations can help transform payments to meet patient expectations.

In today’s complex healthcare environment, patients have become active healthcare consumers evaluating treatment options and weighing the costs. More than ever, patients expect the same cost transparency, and payment ease and flexibility they enjoy in other areas of their lives. Through adoption of digital technologies and process automation, healthcare organizations can transform payments to meet patient expectations.

The payments transformation landscape is evolving. During the recent HealthLeaders Revenue Cycle NOW Summit, Misty Grambow, Vice President of Healthcare and Non-Profit Solutions at U.S. Bank/Elavon, noted that payments transformation isn’t just about payments, patient experience, or security. It’s about how combining those elements can create the optimal patient experience while meeting provider needs.

Transformation enables healthcare systems meet business goals

Investing in payments transformation helps drive success for providers and patients by improving the patient financial experience, expediting accounts receivables, and boosting staff efficiency. In a recent survey with FT Longitude, 60 finance, treasury, and revenue management executives at US healthcare organizations shared insights about what payments transformation means for their patients and organizations. Here’s what we learned:

Align with a banking partner that 'gets' healthcare.

From payers to providers and manufacturers, our healthcare industry experts understand the nuances of your business. We're here by your side to help your financial operations run smoothly. Entrust us to support your financial, operational and investment goals with a holistic consultative approach.

Explore solutions>

Digital options optimize payments and satisfaction for patients and providers

The consensus is clear. Fifty-nine percent of financial leaders across several sectors, including healthcare, agree that without transforming their current payment acceptance capabilities, they can’t improve consumer experience.

  • 72% of healthcare leaders see convenience as the top patient priority. They indicated both patients and staff want payment experiences that minimize complexity and maximize convenience. 
  • 48% of healthcare respondents believe convenience means providing digital payment methods that consumers already use in everyday life, including mobile devices and apps such as Apple Pay®1, Google Pay2, PayPal, and Venmo3.
  • 65% of healthcare leaders say that their organizations are exploring new ways to accept payments, such as PayPal and patient financing.
  • Embedding payment acceptance into patient portals can help meet consumer demand for convenience.  Regularly updated and enhanced portal payment acceptance helps ensure a one-stop experience that boosts speedier payments and patient satisfaction.

Top payment priorities for healthcare consumers according to our survey:

chart showing institutional loan volume rates

Adding affordable options while demystifying patient responsibilities

Successful digital engagement strategies also mean offering flexible payment options, including recurring payments, that make it easier for patients to cover high out-of-pocket costs. Our survey participants recognize that consumers want choices that make it easier to understand what they owe and less stressful to pay higher balances. 

  • 60% of healthcare leaders say affordability is the top patient priority when paying for treatment.
  • 63% of respondents believe easy payment options help patients pay account balances faster.
  • 35% of respondents say patients want a recurring payments option to spread out larger payments over time.  
  • 47% say patients want easy-to-understand billing statements without unwelcome billing surprises.

According to Misty Grambow, payments transformation creates a more positive financial experience by helping patients access their complete financial picture, pay bills more quickly, and get timely help clarifying the billing and payment process. The benefits of investing in payment transformation are real. Simplifying the patient billing processes increases the likelihood of timely payments and improves the overall patient experience.


Learn more about how we can help you transform payments to achieve business goals and create a better patient experience

Related content

Can faster payments mean better payments?

3 ways to make practical use of real-time payments

Enhancing the patient experience through people-centered payments

Banking connectivity: Helping businesses deliver the easier, faster, more secure customer experience of the future

A simple guide to set up your online ordering restaurant

Making the cross-border payment decision: Wire or international ACH?

Creating the ideal patient journey

Instant Payments: Accelerating treasury disruption

Addressing financial uncertainty in international business

Escheatment resources: Reporting deadlines for all 50 states

Role of complementary new channels in your payments strategy

Crack the Swift code for sending international wires

Managing cross-border payments in emerging markets

Navigate changing consumer behavior with service fees

ABCs of APIs: Drive treasury efficiency with real-time connectivity

Benefits of billing foreign customers in their own currency

Payment industry trends that are the future of POS

3 benefits of integrated payments in healthcare

Standardizing healthcare payments

Take a fresh look: mass transit is going places

White Castle optimizes payment transactions

Webinar: CSM corporation re-thinks AP

Integrated payments healthcare benefits

Drive digital transformation with payments innovation

Unexpected cost savings may be hiding in your payment strategy

Want AP automation to pay both businesses and consumers?

Ways prepaid cards disburse government funds to the unbanked

Webinar: Approaching international payment strategies in today’s unpredictable markets.

Three healthcare payment trends that will continue to matter in 2022

5 reasons to upgrade B2B payment acceptance methods

Rent payments: What’s changing for commercial real estate

Consolidating payments for healthcare systems

ePOS cash register training tips and tricks

Restaurant surveys show changing customer payment preferences

Restaurant surveys show changing customer payment preferences

Transition to international ACH

Increase working capital with Commercial Card Optimization

Modernizing fare payment without leaving any riders behind

4 benefits to paying foreign suppliers in their own currency

3 reasons governments and educational institutions should implement service fees

Tap-to-pay: Modernizing fare payments pays off for transit agencies and riders

Tech tools to keep your restaurant operations running smoothly

The future of financial leadership: More strategy, fewer spreadsheets

The surprising truth about corporate cards

Understanding and preparing for the new payment experience

How Everyday Funding can improve cash flow

Demystifying ISO 20022

4 ways Request for Payments (RfP) changes consumer bill pay

Access, flexibility and simplicity: How governments can modernize payments to help their citizens

Automate accounts payable to optimize revenue and payments

Automate escheatment for accounts payable to save time and money

Cashless business pros and cons: Should you make the switch?

Higher education and the cashless society: Latest trends

How to improve digital payments security for your health system

Key considerations for online ordering systems

5 winning strategies for managing liquidity in volatile times

How the next evolution of consumer bill pay makes it easier to do business

Managing the rising costs of payment acceptance with service fees

Safeguarding the payment experience through contactless

COVID-19 safety recommendations: Are you ready to reopen?

What corporate treasurers need to know about Virtual Account Management

Top 3 ways digital payments can transform the patient experience

Hospitals face cybersecurity risks in surprising new ways

Webinar: AP automation for commercial real estate

How AI in treasury management is transforming finance

Hospitals face cybersecurity risks in surprising new ways

Enhancing the patient experience through people-centered payments

Digital trends poised to reshape hotel payments

Transition to international ACH

Unexpected cost savings may be hiding in your payment strategy

Colleges respond to student needs by offering digital payments

How Everyday Funding can improve cash flow


Start of disclosure content

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, Home Equity and Credit products are offered through U.S. Bank National Association. Deposit products are offered through U.S. Bank National Association. Member FDIC.

1. Apple Pay is a registered trademark of Apple Inc.

2. Google Pay, Android and Google Play are trademarks of Google LLC

3. Venmo is a service of PayPal Inc., a licensed provider of money transfer services.