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 #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.

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

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 #18: The Year of the Anti-Regulator?

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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Podcasts

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

Episode 256 – Banking on Fintech, with Anthony Sharett, Pathward

In this episode, Anthony Sharett, President of Pathward, joins Glenbrook’s Bryan Derman to share insights on the evolving partner banking space, the importance of risk and compliance frameworks, and Pathward’s mission of financial inclusion. Tune in as they also discuss potential policy and regulatory changes due to implications of major discrepancies in the banking-as-a-service arrangement between fintech platform Synapse and its banking partners.

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Episode 255 – Glenbrook’s On-Demand Learning Launch and Behind the Scenes with the Payments Education Team

Debbie Bartoo and Russ Jones join Yvette Bohanan to discuss Glenbrook’s focus on payments education and share some of the fun and fascinating things that have happened in facilitating workshops for 34,000 (and counting) payments geeks. Listen in to hear behind-the-scenes insights from their workshop experiences and highlights from the latest offering, On-Demand Learning, as Glenbrook continues to evolve payments education with the changing industry landscape.

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News

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

How Core Values Shape Our Relationship With Cash

"What drives our choices when it comes to using cash versus other forms of payment? For Dr Julia Pitters many influences come into play when we make that decision: from the sense of trust and security that make cash appealing through to concerns surrounding the...

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