Payments in Healthcare

Implementing a payments strategy that fits your organization’s needs while following strict industry requirements can be a challenge, but the right partner can help you answer key questions and make data-driven decisions.

$

Healthcare organizations must effectively navigate complex payments ecosystems.

Hospitals and other healthcare providers must overcome a number of challenges when creating and implementing a payments strategy: managing ‘money in’ and ‘money out’ use cases, accepting a variety of payment methods, dealing with multiple payers (insurance, government, and individuals), and so on. 
$

Organizations must build long-term, scalable solutions.

On top of the complexities of payments, organizations must also thoroughly understand and manage their strategy within an ever-changing industry — dealing with external factors like:

  • Regulatory Mandates
  • Escalating Costs
  • Data-Privacy Rules (HIPAA, etc.)
  • Economic Changes
  • An Aging Population 
  • Evolving & Modernizing Patient Preferences
  • Increasing Numbers of Uninsured Patients

How We Can Help

Glenbrook can help answer questions like:

$

How do we optimize our payments acceptance strategy?

$

What should we outsource vs. take on in-house?

$

What organizational structure and capabilities best support our goals?

$

What are industry trends that may impact our payments strategy?

$

What is the role of B2B networks in healthcare?

$

What payment methods should we accept? Where can we leverage virtual cards?

$

How do we manage such a large roster of suppliers?

$

What vendors could we work with, and which ones should we work with?

$

How do we optimize payments sending strategy?

Our Clients

Large Practices

Large Hospitals

Claims Clearing Houses

Insurance Associations

Insurance Providers and Other Payers

Related Services

Research

We can help healthcare organizations make data-driven decisions through in-depth interviews, custom surveys, and mixed-method approaches.

Product Strategy

We can help healthcare organizations assess and develop their payments product roadmap and recommend partners and vendors that would be most suitable.

Market Analysis

Even the most innovative payments products are doomed to fail without product-market fit, and that applies to healthcare payments, too. We help healthcare organizations evaluate key markets and establish a go-to-market strategy that will be most successful for the product and the business.

Training / Education

If you’re implementing new systems and processes within your payments ecosystem or want to get more efficient within your existing environment, it’s important that your team understands payments within a healthcare context. Glenbrook can design a customized workshop for any team that could benefit from some extra payments knowledge in their day-to-day roles.

Healthcare Case Studies

A practice management solution evaluates embedded finance

A software company offering practice management solutions to medical practices was interested in integrating payments and pursuing a Payment Facilitator model. They asked Glenbrook to provide an economic, technical, and operational roadmap for its journey into payment facilitation.

Read More

Resources

Articles

Glenbrook shares our perspectives on activities in the industry.

Payments Post #18: The Year of the Anti-Regulator?

Payments Post #18: The Year of the Anti-Regulator?

In this Payments Post, we’re thinking about the tension that’s emerged in the regulatory space as a result of the recent change in government with an eye on the controversial CFPB. Read our (not legal advice!) thoughts on what we see playing out in Washington, and what it might mean for the payments industry.

read more

Podcasts

Glenbrook speaks with industry leaders to share a variety of perspectives on the latest payments trends and activities.

Episode 260 – Scams, Stings, and Swindles in Payments #2 – David Maimon, SentiLink

David Maimon, head of Fraud Insights at SentiLink, joins Yvette Bohanan for another episode to raise awareness about different fraud tactics and their impacts.

In this conversation, Yvette and David explore the intricacies and implications of Credit Profile Numbers (CPNs) and synthetic identity fraud, as well as “zombie debt” and assumed identity fraud. Listen in to hear the implications of these fraud schemes and how industry professionals can get ahead of them.

read more

News

Glenbrook objectively curates the news to keep you abreast of important daily headlines in payments.

Ready to see how Glenbrook can support your healthcare organization to be as efficient and effective as possible?