OrboNation Blog
The US healthcare payments market is gigantic, and getting bigger. As seen in the chart above, Healthcare expenditure hit $3.65 trillion in 2018 (per projections from CMS) and this spending is only expected to go up and up (again, as seen in the ski-jump above). Does that mean cruise control for players in the healthcare…
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The Federal Reserve announced last week that it is working on a real-time payments system, the biggest infrastructure upgrade embraced by the government body since the ACH system went online in 1972. At a speech in Kansas City, Mo., Fed Governor Lael Brainard confirmed what the payments industry has long awaited, and she said the…
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Medical processes — from intake to discharge and billing — benefit from both information-gathering and information-sharing. The industry is getting better and better at proliferating patient information where it is needed in order to assure proper assessment, treatment, and billing. And, as many of you know, The U.S. Department of Health and Human Services (HHS)…
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It may come as a surprise to those outside of the payments industry, but handling cash — real dollars and cents — is actually not an effortless “default mode” for retail businesses. In fact, as illustrated at RetailSupplyChains.com, handling cash is a complex, potentially expensive process: Where there is a cash, there is a cost,…
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Our parents always told us to aspire to big things — “Be a doctor or a lawyer — they make lots of money.” We can’t speak for the legal profession (though they seem to be doing well), but a recent survey by physician staffing firm Merritt Hawkins assures us that the amount of revenue physicians…
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We’re sharing an interesting — and obviously Canadian — ode to “cheques” today. We’ll even maintain the north-of-the-border spelling. Do you know what is common between U.S. and Canadian companies? Both still write lots of checks! See what the Financial Post shares as a bit of esoteric insight: Why do many Canadian businesses insist on…
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From Hospital CFO Report comes words of wisdom from seven industry RCM leaders. The common threads? Heightened communication, empowerment of staff, and, of course, technology adoption and AI/machine learning. Check them out and see if any strike a chord with you and your organization! In the meantime, Fierce Healthcare points out that AI and blockchain…
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Microsoft Corp. will stop supporting its Windows 7 operating system next January, which is a bellwether to both independent operators of ATM machines and large financial institutions — time to update! Digital Transactions reports that independent ATM operators seem to have the upper hand in the conversion race: Independent ATM owners’ decision to eschew Windows…
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As digital payment processes – including instant payments that bypass the need to craft and send checks – take hold in more and more business segments, the world of healthcare is beginning to take notice. The proposition: Can faster, easier, and more convenient payments (made possible by steadily advancing technology adoption) create opportunities for innovation…
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In the banking industry, AML/KYC (Anti Money Laundering and Know Your Customer) was previously a very slow, methodic process — the government would put out their lists of sanctioned bad guys (hostile governments, drug kingpins, organized crime organizations and affiliates, etc.) and compliance teams would then carefully (and manually) check onboarding customers to make sure…
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