The healthcare payments industry is rapidly changing, and innovation is inevitable. Healthcare consumerism is on the rise and complex payment issues continue to affect provider organizations.
John Rubinetti, Senior Vice President & General Manager of the Commercial Middle Market Segment of Fiserv weighs in on these pertinent topics and discusses payment trends that will stick around well into 2022.
Q. With the rise of healthcare consumerism comes the need for quick, seamless, digitized experiences. How is Fiserv keeping up with these demands?
- Fiserv is focused on helping clients deliver seamless, integrated payments experiences in-person and online. We work with our clients to understand the business problems they are trying to solve and help them with solutions that enable them to accept payments efficiently, help lower payment costs, and digitize their operations.
Q. What do you find is the most challenging obstacle healthcare facilities face when they reach out to your organization?
- Our healthcare clients often have labor-intensive, manual payment collection processes that are not integrated into their patient management systems. This can create payment collection issues, longer time-to-revenue and reconciliation challenges. Fiserv offers a range of solutions that help healthcare providers address these challenges.
Q. In what ways are you able to leverage Fiserv’s business expertise to solve complex payment issues in healthcare?
- At Fiserv, we work with our clients to help them think through the entire patient experience, rather than the payment component only. We’ve seen that making payments a seamless part of the overall experience helps our clients focus on what they do best – run their business.
Q. How is partnering with HealthPay24 a strategic move not only for Fiserv, but also for healthcare facilities?
- Fiserv and HealthPay24 working together enables us to bring a full payments and patient management platform to healthcare facilities and providers.
Q. What healthcare payment trends do you think will stick as we move into 2022?
- We think patients will continue to want a more ‘consumer payments’ experience from their healthcare providers – seamless, integrated, and digital.