The Rise of the Bank Infomediary in Health Care
John Casillas, www.hfma.org
Privacy and security regulations and the rise of consumer-driven health care are changing the role of banks in health care.
At a Glance
Banks are evolving in four key areas that collectively comprise the rise of a “bank infomediary”:
- Efficient administrative processing
- Medical Internet
- Health information broker
- Community care platform
Medical Banking Goes Green
Institute shows how banks and healthcare are teaming to move paper out of the system and create compelling opportunities for "on-demand" health data services
Contact: Evelyn Marquez Sanchez
Franklin, TN (August 13, 2008) The Medical Banking Project's Seventh National Medical Banking Institute highlights the benefits of "Building An Electronic Medical Banking Community," the theme of the event. The 3-day Institute will be held in Nashville, TN, March 11-13, 2009 and will feature Keynote speeches from the Chair of the Healthcare Financial Management Association, the Executive Director of the Automotive Industry Action Group and other VIPs.
“We’re energized about our mission to convert digital savings into charitable resources by linking banking and healthcare systems,” said John Casillas, MBProject founder and chair of the Institute. “It rids the system of a lot of paper and that’s a ‘green message’ that we haven’t stressed enough. Translated into everyday language, medical banking systems can save 2 million trees and avoid using 103 million gallons of gas every year. It's good for the environment.”
“Banks want to move paper out of the financial system and so the medical banking movement really fits this initiative,” said Maureen Turo, president of the Medical Banking Institute and Vice President of Healthcare Strategy at The Bank of New York Mellon. “As we look at industries where we can re-engineer our systems to make an impact, healthcare is a primary target.”
“Finding smart ways to effectively link and digitize cross-industry workflow is essential,” said June St. John, Chair of Education and Programming for the Medical Banking Institute and SVP, Healthcare Product Manager at Wachovia Treasury Services. “We organized this institute to highlight opportunities for banks to help electronify the paper chase in healthcare. The Institute's educational programming is timely and addresses a critical need in healthcare today - creating the potential for quantum leaps in efficiency for all the stakeholders – payors, providers, employers, banks and consumers.”
Some of the key features of the Institute include:
- BancTec Networking Reception & Gala provides a venue for high value interactions and networking for our guests.
- Payor, provider, bank and large employer panels will connect the dots and explain how new medical banking systems can benefit their operations.
- The Joint Taskgroup for Value In Health, a collaborative of MBProject and the Automotive Industry Action Group (AIAG), convened executives from the financial services, healthcare, automotive industry and State Government to create a "Medical Banking Tool Kit for Employers" that will be highlighted at the session.
- The 2009 International Journal of Medical Banking will feature prominent thought leadership and will be distributed at the event.
- More to be announced soon…
Educational Grantor: BancTec
BancTec helps clients around the world simplify the process of managing their information. Specifically related to healthcare, BancTec’s RemitCycle 360 information platform exchange provides a HIPAA-compliant payment system that processes Electronic Remittances (835 transactions) and facilitates processing explanation of benefits (EOBs) and money transactions from health insurers to healthcare providers electronically. Implementing the RemitCycle 360 system improves collections, materially reduces administrative expense and dramatically improves bill to post. To learn more, please visit www.BancTec.com
Make plans to attend ASAP! Registration is available at: www.mbproject.org/7mbi2009_registration.php
Sponsorship opportunities are available at: www.mbproject.org/7mbi2009_sponsorship.php
White Papers are still being accepted for publication in the 2009 International Journal of Medical Banking. Please see the manuscript guidelines at: www.mbproject.org/7mbi2009_whitepapers.php.
About the Medical Banking Project...
MBProject is a pioneering authority that coined the term “medical banking” to denote the emerging global convergence of banking and healthcare systems to improve health costs, quality and access. Our educational forums, workgroups and pilot programs showcase visionary ideas and initiatives that inform policy, commerce and academia. Supported by a diverse constituency, MBProject conducts research and outreach that defines and facilitates medical banking, and this supports our mission to convert digital savings into charitable resources. Our work demonstrates how banks can improve healthcare programs for consumers, care givers, health plans and employers. For more information please go to: www.mbproject.org.