Healthcare Payments
Banks have a number of ways they can grow by offering new services in the healthcare payments space. This healthcare payments video series features interviews with Mark Brousseau, President of Brousseau & Associates. In these forward thinking interviews, Mr. Brousseau provides insight to the marketplace of healthcare payments by helping to identify the challenges in today’s market, identify a path toward streamlining revenue cycle management and offers a roadmap for banks to better support the needs of healthcare providers.
Read MoreThe IOFM Payments Summit (www.iofm.com) examined the opportunities, challenges and business drivers for emerging payments automation technologies and processes. Billers and banks need strategies for managing multiple payment channels and transitioning remittance and lockbox operations from paper checks to multi-channel electronic payments inputs. The beauty of this show was in its diversity of thought leadership and vision for the future.
Read MoreFormer Health and Human Services Secretary and Governor of Wisconsin, Tommy Thompson is interviewed by healthcare payments expert, Mark Brousseau, President of Brousseau & Associates in Q&A Session #11. Gov. Thompson believes financial institutions, including all banks, can add value to the revenue cycle process. Banks can be a supportive member of an integrated system for healthcare providers.
Read MoreA recent Gartner report highlighted “5 Cloud Trends in 2013 and Beyond”. Have you ever heard of how cloud computing aims to create “Webscale” systems, which are large configurations that have this ability to expand and contract as needed? They can be configured quickly, and yet go away quickly too. No longer are “large scale projects” a problem in a cloud hosted environment. A good example in healthcare payments would be a project to convert a large back-log of explanation of benefits forms. In this project, a large virtual cloud could be created with high capacity for a few days…then it goes away.
Read MoreWorking with a financial institution for healthcare payment processing via a medical lockbox is an excellent method to eliminate inefficient in-house manual processes for healthcare providers. Providers can typically reduce overhead, improve collections in receivables, decrease bad debt/write-offs, reduce fraud and eliminate paper in the office. While the benefits can be impressive, selecting the right vendor can often be a confusing task.
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