Tag: Apple Pay

InstaMed announces support for Apple’s mobile payments service

InstaMed, a health care payments network, has announced that it will be supporting mobile payments made through Apple Pay. Apple’s new payment platform has broken into the health care sector, where a growing number of people are beginning to use their mobile devices to manage their accounts online. Apple Pay was launched late last year, finding support among a large number of prominent retailers. In a relatively short amount of time, the service has become quite popular among consumers with iOS devices.

Consumers will now be able to use their mobile devices to pay for their medical bills

Those with an iPhone 6 and iPhone 6 Plus will now be able to use Apple Pay in concert with InstaMed. This will allow them to make contactless payments and manage their medical costs. InstaMed offers its services to a wide range of providers. Many health care organizations are beginning to see promise in the mobile payments field, not for financial gain, but as a way to make it easier for consumers to pay for the medical care that they receive. Mobile payments have been praised for their convenient nature and growing reliance on mobile devices is beginning to change the way people interact with businesses.

20% of consumers currently have unpaid medical bills

According to InstaMed, approximately 20% of consumers have unpaid medical bills. This is largely due to confusion regarding the payment process. InstaMed believes that this problem will continue to grow as more consumers enroll in high deductible health insurance plans. Resolving confusion concerning the payment process is becoming a priority in the health care field and mobile payments may be able to introduce some simplicity to the process that will alleviate this problem, to some extent.

Health care providers are becoming more mobile-friendly

The mobile payments industry is expected to reach $142 billion by 2019, and health care providers are beginning to position themselves to embrace the mobile space. Health care providers may benefit from the advent of mobile commerce, as it will make them more accommodating to consumers and give them access to a growing mobile consumer base.

This type of transaction for iPhone users has now been integrated into the InstaMed network.

At the same time that a growing number of people are using mobile apps to help them to keep tabs on their health and fitness habits and progress, it has now been announced that Apple Pay is now integrated into the InstaMed network, which will make it possible for policyholders to pay their health insurance premiums and even their copayments with their devices.

This represents yet another way in which mobile devices are making their way into the health care industry.

This will make it possible for anyone in the InstaMed network to be able to accept mobile payment options through Apple Pay users. This includes the consumer facing apps of health care providers, venders, and payers, alike. That transaction service is currently limited to customers who use the iPhone 6, iPhone 6 Plus, as well as the iPad mini 3, the iPad Air 2, and – very shortly – the Apple Watch. The goal is to help to reduce the confusion associated with paying this sort of bill and to make it more simple and convenient for customers.

Apple Pay is considered to be an exceptionally innovative mobile payments technology.

This helps to explain why it was the mobile payment program of choice for this network’s initial integration of the tech. According to the co-founder and CTO of InstaMed, Chris Seib, “Approximately 20 percent of consumers have unpaid health care bills as a result of confusion in the payments process. This will only grow as more and more consumers continue to enroll in high deductible health plans.”

Seib went on to explain that a technology as innovative as Apple’s mobile payments system has the capability to help to “resolve consumer confusion and rising bad debt” that has become highly problematic within the health care industry. He praised the security, simplicity and privacy of this payment process.

He also pointed out that beyond Apple Pay, mobile payments as a whole “are expected to reach $142 billion by 2019.” Therefore, he feels that it is important for the health care industry to leverage exactly this type of solution in order to be able to continue to meet the needs of consumers.