HealthPay Group Focuses On Convergence of Healthcare and Financial Services

HPG says it "fills the unique need in the marketplace for professionals who can assist both the healthcare and financial services industries navigate the business need to reduce costs and improve profitability while providing the right mix of personal banking products, health plans and investment choices to consumers."

The HealthPay Group was formed to address the unique needs of healthcare and financial services," said Paul Musser, Practice Leader of HealthPay Group. "The complexities of this emerging market can be vast and difficult to manage. Because of this, our team is focused solely on the convergence of these two industries as opposed to other professional consulting practices that offer services addressing a broad market scope. Our consultants have worked in the corporate trenches and bring real market experience in healthcare and banking."

The boutique consulting group specializes in consumer directed healthcare research, strategy/product development, revenue cycle management, and program implementation. Additionally, HealthPay Group consultants have experience navigating the complex legal and regulatory environments of both the banking and healthcare industries, and their impacts on product design, marketing and communications.

Recently, HealthPay Group consultants helped a large health plan develop and deploy its first set of consumer directed financial service programs- both Health Savings Accounts (HSAs) and Health Reimbursement Arrangements (HRAs) to market. They also assisted a large provider in an analysis of the billing and collection area of its revenue cycle management initiative to determine more optimal methods of collecting payment. HealthPay Group has also assisted a large medical practice evaluate its merchant bank options and identify areas to drive down costs.