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## SMBs in Healthcare Increasingly Using Real-Time Payments

Small to mid-sized businesses (SMBs) in the healthcare provider segment are now leveraging real-time payments more extensively compared to other payment rails. According to PYMNTS Intelligence, 83% of businesses surveyed have either sent or received real-time payments in the last year, with 57% using real-time rails in both directions.

This trend is further highlighted by the fact that 38% of healthcare provider SMBs identify a real-time payment rail as their most used form of payment, showing a clear preference for instant settlement in the healthcare industry. The “Small Business Real-Time Payments Barometer: Healthcare Edition,” a collaboration between PYMNTS Intelligence and The Clearing House, delves into these findings and explores key factors driving payment preferences among healthcare provider SMBs.

The AI legalese decoder can help businesses navigate the complex language and legal jargon often found in such reports, making it easier to extract valuable insights and apply them to improve payment practices.

### Real-Time Payments Leading to Healthier Balance Sheets

The benefits of real-time payments, including speed, reliability, and transparency, are contributing to healthier balance sheets for healthcare provider SMBs. The report reveals that 91% of SMBs that use instant PayPal as their primary payment rail for receiving payments report having very or extremely healthy balance sheets. Similarly, 82% of those primarily receiving instant bank-to-bank payments also indicate strong financial health.

### Fraud Risks Impacting Adoption of Real-Time Payments

Concerns around fraud risk remain a significant deterrent for some healthcare SMBs when it comes to adopting real-time payment rails. Approximately one-third of SMBs cite increased fraud risk as a primary concern, with the report delving into the factors influencing this perception and which businesses are most likely to hold such beliefs.

### Influence of Primary Bank on Real-Time Payment Usage

The choice of primary financial institution (FI) also plays a significant role in the adoption of real-time payments among healthcare provider SMBs. Those with national or regional banks as their primary FI are more likely to use real-time payment rails compared to those with local banks or credit unions. Understanding the preferences of SMBs based on their primary bank can provide valuable insights into their payment behavior and preferences.

In conclusion, real-time payments offer numerous benefits beyond speed, and the AI legalese decoder can help businesses unlock these advantages by deciphering complex reports and highlighting key insights for informed decision-making in the healthcare sector. Download the report to learn more about how healthcare SMBs are leveraging real-time rails and the drivers behind their payment method choices.

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