Uncategorized
As noted here previously, the No Surprises Act — which is part of the Consolidated Appropriations Act introduced earlier this year — presents some formidable challenges to the healthcare industry. The No Surprises Act is so named because it is designed eliminate some of the surprises that group health plan participants encounter from unexpected charges, which most people will agree is certainly a needed solution. However, as reported at HealthcareDive.com, payers and hospitals are asking for more time to get their “ducks in a row” in preparation to meet the new requirements:
Read More
In recent news, the new infrastructure bill set out by the US government contains tighter rules for crypto businesses. Mark Cuban, for one, doesn’t like it. Known for his brash and outgoing personality, along with his business and tech savvy, Mr. Cuban is not afraid to voice his opinion. Speaking to The Washington Post before the bill officially passed the Senate, Cuban drew a parallel between the growth of crypto to the rise of e-commerce and the internet in general:
Read More
Community banks and credit unions are at a disadvantage. Their lack of necessary internal resources and budget to upgrade their systems and integrate new technologies compared to big banks leads to gaps in fraud coverage, automation capabilities, and outdated systems. These gaps are perilous when almost all industry numbers indicate check fraud is on the rise. Meanwhile, the banking industry is more competitive than ever as new fintech companies like Chime, Brex, and Acorn hit targeted markets. Community banks and credit unions also perform much more manual work compared to these new fintech companies.
Read More
A recent PYMNTS.COM Deep Dive examines how virtual patient experiences and contactless payments — boosted by the realities of the pandemic — are changing the healthcare landscape. Two significant metrics: More than half of patients are willing to contemplate switching providers if doing so created improved payment experiences 31% of customers claim that they pay their medical bills faster…
Read More
The Fintech Times reports on a new Chase survey examining consumers’ evolving relationship with cash, savings, and digital banking tools one year after the start of the pandemic. The survey was fielded between April 23-26, 2021, consisting of 2,005 men and women, between the ages of 18 to 57+. The primary finding, to no one’s particular surprise, is that customers desire personalization in the form of tools and information.
Read More
infographic examining the current state of fraud in banking. Their research reveals that the #1 digital banking concern — regardless of generation — is fraud.
Read More
Managing a pandemic was and is a challenge in any industry. Medical Economics recently examined the pressure COVID-19 put on medical practices and their administrative staff. Before COVID-19 struck, many healthcare providers were already nearing a breaking point from the stress of their jobs. Faced with a number of demands – evolving laws, regulations and standards; healthcare reform and changing payment policies; too many administrative tasks; balancing increased patient expectations as healthcare consumers with limited time for patient interactions – providers and their staff were already suffering burnout at record levels.
Read More
BAI Banking Outlook has made available an informative publication called The Impact of Digital Acceleration on Banking, based upon a survey of 600 consumers and 200 leaders of financial services organizations.
Read More
For small business startups that are frustrated with the way “big banks” interact with them, there might be an alternative on the horizon that will make those big banks take notice. Brex, a company started in 2017 by Brazilian duo Henrique Dubugras and Pedro Franceschi, has made some substantial waves in just a short amount of time. As explained at The Financial Brand.
Read More
Fraud losses exceed actual monetary amount stolen Mobile is the new target International criminal organizations are significant players One of the harsh realities of fraud: actual LOSSES due to fraud exceed the monetary amount involved in the transaction. Digital Transactions reported on LexisNexis Risk Solutions’ “True Cost of Fraud” study for e-commerce and retail merchants,…
Read More