The U.S. healthcare system is a multi-trillion dollar industry, but one rife with inefficiencies, especially when it comes to payments. In an interview with PYMNTS, Todd Harbison, chief revenue officer of Ventanex, an integrated payment solutions provider, contended that the healthcare system itself creates friction between healthcare providers and vendors.
“Unlike traditional B2B areas, where the supplier and customer have agreed upon pricing, and it is the exception when the payment amount does not equal the billed amount, “ he told PYMNTS, “it is standard practice in healthcare for a provider to bill one amount only to have the payer decide to pay a completely different amount.”