The rapid evolution of healthcare services toward virtual–physical integration, continuous interaction, and platform-based organization is fundamentally challenging the premises of traditional healthcare payment systems, which are grounded in episodic, in-person care. Unlike the mere digitization of payment channels in early digital health, metaverse medicine reconstitutes service delivery, value creation, and accountability networks, thereby exposing deep-seated structural inadequacies of existing payment systems in process measurement, real-time coordination, and multi-actor value distribution. The conventional theoretical presumption of payments as a “neutral settlement infrastructure” has become insufficient to explain and support the development of metaverse medicine. Moving beyond the “tool-neutrality” perspective, this paper repositions the payment system as an endogenous institutional arrangement within healthcare governance. Employing institutional analysis and comparative institutional analysis, it systematically examines the applicability limits of current payment instruments (e.g., CBDCs, stablecoins) in virtual–physical, process-oriented service contexts. It constructs a three-dimensional analytical framework centered on “institutional compliance – technical flexibility – depth of governance embeddedness.” The study reveals that metaverse medicine drives three fundamental shifts in the payment system: in function, from an ex-post settlement tool to a process coordination mechanism; in design logic, from uniform rules to dynamic, programmable protocols; and institutionally, from a supporting ancillary to a core governance infrastructure. Consequently, this paper argues that restructuring the payment system for metaverse medicine constitutes a cross-layer, systemic endeavor. It requires, at the institutional level, affirming its governance role; at the mechanism level, developing dynamic models for payment based on process and outcomes; and at the technical level, prudently leveraging programmable and protocol-based capabilities as enablers. The conclusion underscores that resolving payment issues is a prerequisite for the sustainable development of metaverse medicine. Its evolution is not a matter of simple technological substitution but a complex process of co-construction among technological possibilities, medical value rationality, and institutional constraints. This analysis provides a novel theoretical lens for understanding healthcare’s organizational and institutional transformations in the digital age.
Key Words: metaverse medicine; healthcare payment systems; programmable payments; payment protocols; institutional restructuring