Healthcare Payments: Why Patients Struggle And What We Can Do About It

Rising healthcare costs and outdated billing systems are driving both patients and providers into financial and operational stress. With 100 million Americans carrying medical debt, Cedars-Sinai and other leaders are exploring tech-enabled payment innovations. Key challenges include high out-of-pocket costs, lack of pricing transparency, limited payment options, and administrative burdens. Recent regulatory shifts, such as upfront pricing mandates and good faith estimates, aim to ease these pressures. Fintech solutions—like Text2Pay, Buy Now Pay Later, and automated payment plans—offer patient-friendly alternatives. Providers can further improve outcomes by offering multiple payment options, delivering early cost transparency, automating collections, and using AI to predict payment risks. These combined strategies enhance affordability, access, and trust in healthcare.