Author: Vellis Team

Healthcare payment automation is transforming how payments are processed – making them faster, more accurate, and easier to manage for everyone involved. By reducing manual work and improving transparency, it’s helping doctors, hospitals, and patients spend less time on paperwork and more time on care.

Healthcare spending in the U.S. is climbing faster than inflation. In 2023, costs rose by 7.5%, outpacing the 4.6% rise in 2022. Healthcare accounted for 17.6% of GDP in 2023, and projections suggest this will reach 19.6% by 2031. Out-of-pocket costs are also growing, with $1,425 per person in 2022 compared to $677 in 1970.

Focusing on stabilizing operations, improving affordability, and protecting patient data – the healthcare finance trends for 2025 are urgent priorities for an industry grappling with growing costs. 

A Health Savings Account (HSA) lets you save pre-tax money to pay for medical costs. Cash contributions can come from you, your employer, or family members. HSAs reduce your taxable income, grow tax-free, and let you spend on qualified medical expenses without additional taxes.

Payment integrity in healthcare is about making sure bills are accurate, fair, and free of fraud. It involves checking claims before and after payments to catch mistakes early and ensure providers bill correctly. This is especially important as payment integrity in US healthcare directly impacts cost control and trust across the system.

Alternative payment models (APMs) are innovative approaches to healthcare reimbursement that move away from the traditional system of paying for each service. Instead of rewarding volume, APMs focus on the overall quality and efficiency of care.

Revenue Cycle Management (RCM) can be neatly elaborated as the strategic process businesses use to track and manage the flow of revenue from initial customer engagement through to final payment. It plays a crucial role in maintaining financial stability by ensuring that services provided are accurately billed and appropriately reimbursed.

Fraud detection is the process of identifying activities that are unauthorized, suspicious, or potentially harmful to an organization or individual. In simple words, this involves a set of tools, systems, and procedures designed to recognize and stop fraudulent behavior before it causes significant damage.

SaaS payment processing handles recurring transactions and subscription billing for cloud-based software services. These systems ensure secure fund transfers between customers and businesses using gateways, processors, and compliance tools. 

An email money transfer (EMT) lets you send money between Canadian bank accounts using online banking and an email address. It’s a fast and secure way to transfer money through email without needing to share banking details.