A new report from Aite Group, LLC examines various business opportunities for card networks to pursue in the healthcare payments space. It provides a high-level market overview of each market opportunity, organized by amount of potential dollars gleaned, and based on qualitative interviews with decision-makers at card networks.
The healthcare industry recognizes the advantages that card industry infrastructure can bring to the healthcare payments process. As demand for such programs grows, card networks that aggressively pursue partnering with payments solution vendors will benefit tremendously from transaction-based revenue opportunities. In fact, Aite Group estimates that the revenue opportunity from consumer directed healthcare (CDH), patient-to-provider and payer-to-provider payments will amount to US$10.5 million in 2012.
“Card networks are well suited to cater to the healthcare market, as they possess numerous capabilities that could be used to process healthcare payments,” says Kunal Pandya, senior analyst with Aite Group and author of this report. “While the degree of difficulty in meeting each opportunity (CDH, patient-to-provider and payer-to provider) may vary based on each network’s strategy, card networks show a high level of commitment to adding healthcare payments to their existing business lines, as well as to reaping the revenues that will follow.”
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