The Reality of Virtual Payment Systems
Tony Kong featured on Executive Insight
Date : May 4, 2015

Our healthcare system loses billions of dollars each year on antiquated billing systems that waste paper and threaten personal security. New technology encourages optimized financial performance for both payers and providers by allowing flexible and varied payment options.

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"The payment landscape is shifting in its ease of use and portability," observed Peter Caparso, chief commercial officer, BlueSnap. Implementation of next-generation payment solutions would help hospitals and medical centers reduce costs while increasing efficiency and improving customer service.

Patients will grow impatient if healthcare can't keep up with the evolving payment technology being adopted in other industries. Patients expect to pay their bills how, and when, they want. "The healthcare payments system is a complex ecosystem," said Tony Kong, director in West Monroe Partners' Healthcare practice. "Everyone wants it to be more efficient and convenience is driving adoption."

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