Wednesday, December 27, 2006

How banks will help improve healthcare

How banks will help improve healthcare: "Lately, financial leaders have begun to investigate how to use their transaction expertise to transform another industry: healthcare. While bringing their own houses to an unprecedented level of automation, financial institutions have long cast a covetous gaze at healthcare’s inefficient billing, collecting and reimbursement. Now, as the employer-based health insurance model continues to deteriorate, consumers are shouldering an increasing percentage of costs and playing a growing role in healthcare decision-making. Such consumer engagement means the healthcare sector is paying closer attention to goals such as transparent pricing, standardized quality measures and electronic medical record-keeping.

But as mass media outlets focus on skyrocketing premiums, they’ve largely missed a strong underlying shift--that financial institutions may soon wield heavy indirect influence in healthcare through their custodianship of health savings accounts. "

Their first priority will be to digitise medical records . And if payment to the doctor is conditional on his having electronic medical records, all doctors will fall in line very quickly !

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