Clarity. That seemed to be the watchword at the panel discussion on medical banking I hosted Monday at TEXPO 2012, the annual treasury management conference hosted by the Dallas Association for Financial Professionals.
Appearing with me were my Systemware colleague Andrea Chiappe and Laurie Masscurro from Bank of Oklahoma Financial. We had a tough act to follow — luncheon speaker Boone Pickens – but we managed to attract an audience of bankers and others interested in “Lessons Learned in Remittance Processing Implementations.”
All three of us talked about clarity, beginning with a bank’s overall goal. That’s to generate a file their customer can post, even though systems vary. Obviously, the cleaner (or clearer) banks can make the end result the better. And for clear communication, we talked about the importance of investing time in learning exactly what medical people are talking about. [Read more…]
These days, Big Data is huge. In news stories, consultant studies and conference sessions, everyone seems to be talking about how the analysis of large amounts of data is going to change our businesses and even our lives. In just a few days:
- Forbes.com said, “The PC changed the world now the Data movement is doing the same.”
- The Motley Fool recommended its “Top 10 Big Data Stocks.”
- CBS News fretted, “In the world of Big Data, privacy invasion is the business model.”
- And tech firms raced to make Big Data-related announcements at the Strata Conference 2012, where speaker after speaker addressed the topic. [Read more…]
Today we are pleased to announce a truly trailblazing product: the Systemware Digital Mail Gateway. This new solution will enable corporations as well as print and mail providers to transform, package and deliver customer communications to consumers through digital mail providers, thus increasing consumer adoption of physical mail suppression substantially reducing print and mail costs.
As the electronic substitution of traditional mail continues to accelerate, we see the emergence of digital postal mail providers as an exciting opportunity to leverage our core capabilities to address the need for secure digital delivery of important documents such as statements, monthly bills, explanation of benefits (EOBs), policy notices, and much more to consumers. [Read more…]
The transformation of medical banking now well under way will only accelerate in the coming years with the implementation of the sweeping changes prescribed by the Patient Protection and Affordable Care Act.
Under the law, health plans must adopt electronic processing protocols by July 2013, and a series of other provisions will take effect through 2018. So it’s no surprise that HIMMS estimates the banking industry is investing more than $100 million a year in technologies to process claims and other transactions for providers of health services.
Banks clearly have recognized that the lock boxes that doctors and hospitals routinely use for process efficiency and risk mitigation can also help improve the flow of critical information and financial transactions. From their position in the direct path of the standard process — and with the appropriate technology solutions – banks see they can move from mere cash management into healthcare transaction processing. HIMSS goes as far as to suggest that banks can adapt their online and mobile banking platforms to also accommodate the transfer of patients’ electronic medical records from one health care provider to another. [Read more…]
Digital mail has arrived, and with it plenty of excitement about a technology that promises electronic home delivery that is faster and more secure at a fraction of the cost.
With digital mail, a user’s bills, statements, notices and other customer correspondence land in an online mailbox. There they can be viewed, the bills paid and the letters, statements, bills, etc. stored without the user having to go to the website of each and every bank, utility, insurer, etc. with whom they deal. It’s more secure than traditional mail, and more selective. The technology can even screen out junk mail.
Electronic substitution of traditional mail is accelerating with the volume of first-class mail dropping by 25 percent since 2006, and Postal Service officials expect it will continue to fall by 50 percent over the next five years. Business mail users are shifting from traditional hard copy distribution models to a variety of new ways to digitally communicate with their customers, while lowering costs. Consumers are attracted to greater convenience, faster service, and more control. Even the embattled U.S. Postal Service is considering how it can go digital. [Read more…]
The future of hospital financial management was the focus of the 2012 Annual HIMSS Conference and Exhibition at the Venetian Sands Expo Center in Las Vegas.
Attendees were able to experience digital technologies firsthand through real-world case studies that demonstrated how these financial tools have sped revenue cycles for profit and non-profit providers alike. As always HIMSS was a huge event with well over 1 million square feet of exhibit space and hundreds of sessions to attend over the event’s five days. [Read more…]
