Technology
Hear it directly from the providers! In the new reality where patients are responsible for more of their healthcare expenses, hospitals need to be more “patient-centric” in their approach, as this shift from payer reimbursement to patient reimbursement has major implications for revenue cycle management. Frankly, it forces hospitals and health systems to abandon traditional processes for the adoption…
Read MoreBank of America has 23% fewer branches and 37% fewer workers than in 2009, the bank said in a recent presentation. Further, CNNMoney reports that they plan to cut another 8,000 jobs from their consumer business over time. Digital transactions are way less expensive and keep customers happy. In fact, BofA said it costs less than a tenth…
Read MoreThe days of the ATM as simple “cash-dispensing machines” are over. In order for banks to remain competitive, they have to tailor the ATM experience to client needs and the physical context in which the ATM exists. Also, the definition of an ATM is expanding into the realm of “kiosk”… In an interview with Aravinda…
Read MoreBanks are facing bigger and bigger challenges to ensure new accounts are actually legitimate. Once fraudsters create an account under a false identity, it can be very difficult to stop before its too late. To make it more difficult, online applications and online account opening give fraudsters the upper hand in manipulating their identities. From the American…
Read MoreThe HFMA ANI conference in Las Vegas, Nevada concluded yesterday. The sessions and keynote presentations were well coordinated and integrated with the theme — “Out of the Box” — for the finance and revenue cycle groups within hospitals. The challenge of our healthcare revenue cycle and payment process is to understand how one can actually attain a level of…
Read MoreIt’s not a live-in-person teller, and it’s not an ATM. But, based on conversations I’ve had with some of my older, more set-in-their-ways relatives, it may be the only way to get certain people to make use of a “machine” to do their banking. The interactive video teller machine certainly looks like an ATM, but the remote…
Read MoreThe challenges of achieving an efficient healthcare system are far reaching. In the US, we are all familiar with HIPAA, healthcare fraud, delayed payments, PCI and the challenges of converting from traditional workflows into digital. As companies like OrboGraph help facilitate a transition to full automation of the insurance payment process, others are introducing innovations…
Read MoreJaeme Adams, cofounder and CEO of SwervePay, has an interesting take on improving the reliability of patient payments. He lists three very good reasons to take seriously what he calls an “illness” infecting Healthcare provider offices across the country: $32 billion could be recaptured annually if the patient billing and payment process was simplified. This can be…
Read MoreIt should come as no surprise to security-obsessed online merchants that fraud is the leading concern of e-commerce merchants polled by the Merchant Risk Council, a Seattle-based worldwide association of e-commerce payments and risk-control executives. The MRC polled a total of 193 merchants in December and January at companies of varying industries and sizes (see their report…
Read MoreWhile some major corporations and regulators in developed markets like the U.S. and U.K. are narrowing in on same-day and near-instantaneous electronic payments, in developing nations, businesses just want to trust that a payment will land where and when it’s supposed to – it doesn’t have to be instant.
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