The Changing Landscape of Healthcare B2B Payment Transactions
By Kelsey Waddill
September 16, 2021 – Healthcare B2B payment transactions have been high in 2021, potentially signaling the importance of electronic payment transfers as the nation emerges from the coronavirus pandemic, according to a report from National Automated Clearing House Association (NACHA).
Nacha oversees the ACH Network, a national payment system. B2B payments made through this network in the healthcare industry include transactions such as health insurance premium payments.
According to ACH Network data, the healthcare industry produced 108 million claim payments in the second quarter of 2021, a historic amount of payments for this industry.
“Medical and dental providers are increasingly realizing the many advantages that come with having claims directly deposited to their accounts,” Jane Larimer, president and chief executive officer of Nacha, said in the Nacha report.
Nacha found that the healthcare sector’s claim payments increased by 35.7 percent over its 2020 second quarter results. Healthcare contributed the highest volume of transactions in the second quarter of 2021 of any sector, compared to the second quarter of 2020.Overall, B2B volume increased by 28.7 percent over its second quarter transaction volume in 2020. In contrast, the person-to-person (P2P) sector its volume of payments increase 24.2 percent over its 2020 second […]