What is Healthcare Payor?
Organizations that determine service prices, collect payments, and handle claims are known as payers in the healthcare sector. Examples of payers include Medicare, Medicaid, and health plan providers. Typically, payers and providers are distinct entities. Services are often provided by providers, such as hospitals or clinics.
In the healthcare system, a payor is a person, organization, or entity that pays for the care services administered by a healthcare provider.
Three types of healthcare payors are private, commercial, and government.
Persistent drives transformational programs with healthcare payors that span in the areas of patient engagement, improving patient outcomes by uniquely combining technology innovation with process transformation.
What are the business benefits of Healthcare Payor?
Healthcare Payors are essential in providing patients with the health insurance coverage needed to receive necessary care and healthcare services.
Healthcare Payors help balance cost and quality of care with an assurance of wasting the least amount of money.
Healthcare Payors bridge the gap between patients and healthcare providers.