Celent Launches Healthcare Banking Research Service
Celent has announced a new Healthcare Banking research service and an inaugural report titled "Healthcare Transactions: What’s in the Forecast for Financial Institutions". The report addresses the complexities of healthcare transaction processing as well as the opportunities the market presents to financial institutions.
Successful institutions stand to gain not only on the transaction processing side of their business but also on the credit side through stronger relationships with both providers and payers.
Until recently, the healthcare sector appeared to be unattractive due to its glacial adoption of automation and lack of adherence to transaction standards. Today, the forecast is brighter. Adoption of electronic transaction processing is growing, and both financial institutions and nonfinancial competitors are staking out territory to capture both mind share and market share.
“Only those financial institutions with dedicated resources, proven domain expertise, sophisticated services, and scale will win. FIs that have a stake or aspire to gain a stake in the healthcare sector must offer value-added services along the revenue cycle value chain and prove that they can play a critical role in exceptions handling,” said Alenka Grealish, co-author of the report and Managing Director of the Banking team.
Financial institutions won’t tackle this market alone. “Leaders will expand their offerings by partnering with or acquiring the more innovative third party vendors and clearinghouses and integrating their technology with existing lockbox, cash management, and treasury offerings,” adds Madhavi Mantha, co-author of the report and senior analyst.
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