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.

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 healthcare platform maximizes return on payments acceptance strategy

With a legacy approach to payments in place, this client enlisted the help of Glenbrook to determine a more efficient and effective way to manage their payments ecosystem.

A national healthcare services company builds an omnichannel payments strategy for retail pharmacy customers

This client engaged Glenbrook to execute a two-phase project that would help them understand and assess the options available to their organization for a new payments strategy.

A large hospital optimizes its approach to payment acceptance across business units

From patient care down to the cafeteria, this client walked away from the project with a deep understanding of their payments ecosystem and concrete action items to optimize their payments strategy.

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.

Resources

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Articles

Glenbrook shares our perspectives on activities in the industry.

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?

Payments Post #14: Wallet World – WWDC, VFC, Tokens, and the Future of the “Card”

In this month’s Payments Post, Glenbrook takes a look at recent changes to the Apple Wallet announced at WWDC, the Visa Flexible Credential (VFC), tokenization, and the future of card transactions.

Visa Payments Forum Deep Dive: Visa Flexible Credential

Glenbrook’s Samantha Gordon unpacks the Visa Flexible Credential, one of many new products announced by Visa at their annual Payments Forum earlier this month.

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Podcasts

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

Episode 247 – From the Vault: Multiplayer Fintech Builds a Winning B2B Service – Robin Gandhi, TripActions (Episode 146)

It’s September 2024, and this month, we’re focusing on business-to-business payments. B2B payments are difficult because so much information must be exchanged for them to process efficiently. But there’s more to it than that.

For this episode, we pulled a favorite from our vault – number 146, a discussion between George Peabody and Robin Gandhi. Since this aired in March of 2021, Robin has moved to a post as Chief Product Officer at Nium, and TripActions has rebranded to Navan. But the underlying ideas discussed regarding B2B are still important – and this idea of multi-player fintech and what it means for B2B payments is quite relevant.

Episode 246 – Going Real-Time with Dimitri Dadiomov, Modern Treasury

In this episode, we go deep on the state of real-time payments with Modern Treasury’s Dimitri Dadiomov to understand whether we might be reaching the elusive “tipping point” for real-time payments in the U.S. and which players and what kind of use cases might be driving the growth.

Episode 245 – Shining a Light on the Dark Web with Dr. David Maimon, SentiLink

In this episode, Dr. David Maimon, Head of Fraud Insights at SentiLink, joins Glenbrook to share his insights on the dark web and talk fraud trends and the psychology of fraud and those who perpetrate it.

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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?

Reach out to us today