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ICD-10 Delay Should Help Financial Institutions Sell Medical Lockbox Services

April 4, 2014

Have you heard the news? Again! ICD-10 is pushed back another year for implementation. Behind the controversy of the Affordable Care Act (ACA) was a tsunami brewing within the healthcare industry. Many were concerned about the overhead and conversion costs, so pressure was building as the deadline was lurking in October 2014. It might have been another “Y2K”, in that proper planning and execution would have mitigated the risks and made the transition more like a little storm rather than a tsunami… but we will never know for 2014.

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A Simple HIPAA Compliant Solution for Banks Entering Medical Lockbox

June 10, 2013

Let’s say that a financial institution (FI) wants to provide a medical lockbox processing solution to its existing healthcare provider customers and/or prospective customers outside its geographic branch locations. Ideally the system would process both insurance payments as well as patient payments. In order to get into this business, particularly capturing and scanning EOBs, the FI will need to follow the rules and regulations around HIPAA/HITECH; a potentially daunting and intimidating process!

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