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Industry Benchmarks for Electronic Payments vs. Checks
September 16, 2025
Q. What is the industry norm for paying vendors with electronic payments versus checks. We are almost to an 80% rate but wanted to see how we rate among our peer groups.
A.
(Answered by a member of IOFM's Advisory Panel)
The University of Maryland Medical System issues the majority of our payment dollars (~85%) via ACH. However, the “count” metrics can be skewed due to the volume of patient refunds which are still issued on paper checks. We also have two vendor card payment programs, but as we…
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