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.

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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. 
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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:

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How do we optimize our payments acceptance strategy?

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

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What organizational structure and capabilities best support our goals?

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What are industry trends that may impact our payments strategy?

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What is the role of B2B networks in healthcare?

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

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How do we manage such a large roster of suppliers?

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

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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.

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Resources

Articles

Glenbrook shares our perspectives on activities in the industry.

Payments Post #17: Cutting Costs

Payments Post #17: Cutting Costs

In this Payments Post, we discuss the DOJ bringing a lawsuit against Visa that alleges the company operates an illegal monopoly in the debit card space. Does the argument have merit in our non-legal minds? And if so, what could the DOJ’s move mean for an evolving payments landscape?

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Payments Post #17: Cutting Costs

Payments Post #16: The Apple Drops

It’s time for another edition of Payments Post and (surprise!) we’re thinking about the Visa Flexible Credential again. Now that Apple has plans to open up the NFC chip and Secure Element to third party developers, we’re scratching our heads. Who benefits from this newfound NFC access? What opportunities can fintechs unlock? How will conventional financial institutions react? And to tie it all back, does the VFC still matter?

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Payments Post #17: Cutting Costs

Payments Post #15: BNPL Battles

In this month’s Payments Post, we revisit the prime use case for Visa Flexible Credential (VFC): BNPL. How are buy now pay later providers positioning themselves in the current environment, how are consumers using their tools, and how are regulators and issuers responding?

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Podcasts

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

Episode 250 – Fanning the Flames: Ten Years of Apple Pay

Yvette Bohanan and Russ Jones celebrate the 10-year anniversary of the announcement of Apple Pay by reflecting on its origins, challenges, and successes. The episode highlights key features like tokenization, encryption, and biometric authentication, emphasizing Apple Pay’s focus on security, privacy, and convenience. Tune in to take a look back at Apple Pay’s significant impact on the payments industry and a look forward to its continued expansion.

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Episode 248 – The Ins and Outs of Payouts with Manish Vrishaketu, Tipalti

Manish Vrishaketu, Chief Customer and Operations Officer at Tipalti, joins us for this episode to dive into why payouts have been overlooked for so long, what makes them challenging to master, and what is happening that may make things better and easier for a “niche” specialization in our industry that happens to be incredibly important for every company on the planet.

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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?