B2B Disbursements: Healthcare and Workers’ Compensation Trends

Aite Group’s latest report finds that 86% of providers count themselves as early or early-majority adopters of new disbursement methods.

Boston, April 6, 2021  — Virtual cards are another viable alternative to checks, and in some cases ACH. They should be considered one of multiple options payers and providers can use to transact, but the product continues to face hurdles with providers concerning payment experience, processing fees, and workflow integration. With providers accepting more business-to-business disbursements and with a market that is ripe for an infusion of new payment methods, Aite Group’s new report, B2B Disbursements: Healthcare and Workers’ Compensation Trends, explores the need for virtual card players to solve the challenges with more coordination not only between payers and providers but also among card networks, payments platforms, merchant-acquiring businesses, and patient accounting systems.

“Players in the payer-to-provider disbursements space continue their collective push to increase the volume of electronic transactions—disbursements and remittance advices,” states Mike Trilli, research director at Aite Group. “As one looks at the broader market trends, the overall outlook for digital disbursements and remittance advices is positive. In addition, virtual card acceptance has made gains, while 2021 looks to be a promising year for the introduction of new digital disbursement methods,” he explains.

This report outlines macro disbursement and remittance advice trends and mentions the following companies: American Express, Athenahealth, Change Healthcare, Comdata, Discover, ECHO Health, Elavon, Fiserv, InstaMed, JPMorgan, MagnaCare, Mastercard, Nacha, Optum Bank, Payspan, Prepaid Card Services, QuickRemit, Square, Tremendous, Visa, VPay, and Zellis. It breaks out findings by insurance type, provider type, provider size, and the current status of providers’ virtual card acceptance. It is based on a Q3 2020 Aite Group survey of 300 U.S. healthcare providers, including small, midsize, and large U.S. medical, dental, and vision providers. These providers receive virtual card payments, previously received them in the last 12 months, or are actively considering receiving virtual card payments for the following disbursements: medical, dental, vision, and workers’ compensation.
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To request a press copy of this report or to speak with Michael Trilli about this topic, please contact us at [email protected].

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

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