Situation

A large hospital under a well-known university came to Glenbrook for support in analyzing and restructuring the entirety of their payments acceptance strategy across departments. While patient and customer experience were important considerations for the new strategy, understanding the financial implications was also essential.

Glenbrook leveraged our extensive knowledge of payments in healthcare and a range of tools to deliver a strategy that made financial and operational sense for the organization across a variety of categories, vendors, and departments.

Approach

To ensure maximum efficiency and effectiveness throughout the project, Glenbrook developed a five-phase approach that allowed us to pause, reflect, and recalibrate, culminating in three key deliverables: a detailed and data-driven gap analysis, strategic recommendations, and an overview of financial implications for the organization.

First, Glenbrook gathered data and resources from the client and conducted detailed interviews with key stakeholders to set a baseline of knowledge for our research and recommendations. This effort helped us synthesize the client’s payment needs and identify gaps in the current payments strategy. 

Glenbrook then created a roadmap with the steps necessary for the client to establish industry-leading capabilities. Recommendations were prioritized as short- and long-term initiatives, and specific vendors were suggested. An example of high-level recommendations are shared below:

Lastly, Glenbrook equipped the client with the necessary data to make educated decisions on vendors and implementation processes that would make the most financial sense for the organization. The cost of each phase of the roadmap was calculated, and benefits were thoroughly outlined to help the client conduct its own cost-benefit analysis before taking steps toward an optimized solution.

Impact

From patient care down to the cafeteria, this client walked away from the project with a deep understanding of their current payments ecosystem and concrete action items to optimize their approach. Furthermore, the client gained important insights about payment in healthcare and how to ensure their environment is as compliant as it is effective.