Healthcare's fintech moment will arrive

Just as banking modernized a decade ago, healthcare will finally adopt faster, digital payment solutions.

Remember the last time you visited a bank branch? For most people, it’s rare—banks have become digital-first, with branches now mainly used for special tasks like notarizing documents or accessing safe deposit boxes. It's hard to believe that just a decade ago, we structured our lives around bank hours and physical locations. This shift didn’t happen by chance.?

"The Digital Wallet Wars of 2011-2013 happened because fintech companies proved there was a better way," says Boe Hartman, Nomi Health Co-Founder and Chief Technology Officer. "They showed that payments could be instant, simple, and digital. Banks had to adapt or become irrelevant. Healthcare is now facing that same moment."?

The challenge

While other industries have modernized their payment infrastructure, healthcare remains tethered to paper checks, manual processing, and disconnected systems. These outdated methods don’t just slow things down—they create vulnerabilities as transaction volumes increase and cyber threats grow more sophisticated.?

Early signs of change

Just like banking changed with digital tools, healthcare payments are getting faster. New digital payment platforms can complete healthcare transactions in real-time, replacing the slow, paper-based systems that typically take months to clear.?

Proof in numbers

The inefficiency of current healthcare payments is undeniable. Each year, billions of transactions are handled through outdated systems that demand significant manual effort and reconciliation. New digital platforms are already replacing these outdated methods, delivering payments faster and reducing administrative burdens.

Human impact

Modern payment systems simplify healthcare for everyone. Providers spend less time chasing payments and more time on patient care. Administrators process claims faster and more accurately. Patients can focus on their health without the stress of financial confusion. When payment complexity disappears, the entire healthcare experience improves.?

2025 prediction

In 2025, healthcare payments will enter their fintech era. Just as we rarely visit bank branches today, the slow, paper-based payment processes in healthcare will give way to digital-first approaches. The winners will be those who can make healthcare payments as simple as other everyday transactions.?