While recently on the Healthcare Information and Management Systems (HIMSS) site I came across a project I had not heard of: The Medical Banking Project.
Medical Banking involves the integration of banking and credit resources with health care. According to the site, the HIMSS Medical Banking Project facilitates partnerships between financial institutions and health care organizations to improve health systems. The HIMSS Medical Banking Project “drives lower health care costs by researching and facilitating cross-industry models that optimize banking resources for health care.”
This “self-funded and pragmatic think tank comprised of industry leaders, legal analysts, writers, and studio production experts” encourages education on this topic and financial improvements throughout the industry in such areas as reduced paper in payment channels by using green technology, real-time payment processing, health-wealth programs, linking online banking to health portals for consumer convenience, mobile health, and other areas.
The project provides research assistance to its member organizations and helps them develop strategic plans. HIMSS says that “Medical Banking offers a new strategy to give $35 billion in annual administrative waste back to caregivers.”
Has your hospital taken advantage of the help HIMSS offers through this project? If so, in what way? Have you seen improvements because of this alliance? I’ll look forward to your comments.