U.S. Medical Bill Payments: A Market Sizing

Consumers’ digital bill payment trends have changed significantly over the past four years.

Boston, October 6, 2020 – U.S. consumers pay a lot of bills—approximately 15.5 billion bills in the last year, shelling out roughly US$4.6 trillion. Of those, 406.4 million are medical bills. Consumers’ digital bill payment trends have changed significantly in two key areas: payment channels and payment methods. More households are paying medical bills, the average number of medical bills per household is increasing, and the average aggregate amount of medical payments is increasing. As these trends take hold, it is increasingly important for healthcare providers to operate across a four-pronged approach that considers channels, methods, frequency, and bill delivery.

This Impact Report compares the market size and key trends from 2016 to 2020, offers insights into the minds of the consumers, dives into 2020 gross dollar volume and uncovers industry-level insights, and sizes bill presentment with an eye toward flushing out the impact of electronic bill delivery. It is based on a Q2 2020 Aite Group survey of 3,039 U.S. consumers, 1,550 of whom indicated their household paid a medical bill between March 2019 and March 2020.

This 39-page Impact Report contains 37 figures and five tables. Clients of Aite Group’s Health Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions PayPal.

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