As a leader focused on elevating the healthcare experience, you work hard to ensure your organization has the right financial technology it needs to thrive amid evolving market and regulatory conditions.
TOP 3 CHALLENGES FOR TODAY’S HEALTHCARE EXECUTIVE
Whether you’re a healthcare provider, a pharmaceutical or medical device manufacturer or a benefits administrator, you face similar financial challenges: digitalizing your payments to optimize operations and revenue; giving consumers financial tools to access healthcare; and keeping aligned with evolving industry regulations.
DIAGNOSING THE ISSUES
From payment technologies and industry regulations to consumer expectations, you’re navigating a lot of change.
In an ever-evolving industry, you need to ensure your business is on top of the digital payments technology that drives efficiency, profitability and customer satisfaction.
EMBRACE THE FUTURE NOW
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25
%
For enterprise technology finance leaders, the top 3 investment priorities are:
Modernized systems
50
%
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A digital-first payments strategy allows you to eliminate paper and replace manual processes.
Digitalizing your payments operations
Business process outsourcing
ESG strategy
Streamline reimbursement
Improve customer experience
By adopting innovative technologies that streamline payments, you can make it easier for your customers to pay and get paid, improving their overall experience.
Faster reimbursement
As costs and regulations increase, innovative financial technology can give you the flexibility to optimize revenue, stay in compliance and differentiate your business.
We understand all the regulation, payment complexity and operational efficiency challenges you’re up against. With FIS®, you have a trusted partner on your journey to a fitter, healthier business now and into the future.
There's a way forward.
BREATHE NEW LIFE INTO YOUR HEALTHCARE ORGANIZATION
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Offering modern payments
Strengthening business resiliency
Improve collection rates
Data and analytics
Cloud solutions
YOU NEED
1
2
3
Source:
PYMNTS
%
70
Releasing capital for innovation
How can you improve efficiency in your function to reduce cost and have more cash for innovation?
There’s so much data, how do you make actionable insights from it?
Making smart decisions
How do you stay ahead of payment innovation, with growing markets and customer expectations changing?
Having flexible payment options
Automating manual processes
AS THE HEALTHCARE INDUSTRY CONTINUES TO EVOLVE, WHAT’S KEEPING YOU UP AT NIGHT?
A.
Ensuring customer satisfaction
B.
Streamlining finances through technology
C.
Mitigating non-compliance and fraud
D.
All the above
E.
Ability to support new financial products
F.
Cost pressure/Need to reduce OpEx
G.
You're not alone
90% percent of large healthcare organizations have an AI and automation strategy
Consumers are using a variety of alternative payment methods. Digital wallets lead the way and are projected to rise to 52.5% of transaction value in 2025.
Source: 2021 FIS Readiness Report, June 2021
A digital-first culture
But using manual processes to manage vendors and customer reimbursements is inefficient and prone to errors.
But legacy payment systems aren’t equipped to meet the expectations of today’s healthcare consumers.
Emerging payments technologies
But staying competitive requires flexibility to weather constant changes in regulations and technology.
Greater business agility
Select your answer below...
70% of consumers are interested in a unified digital platform for managing medical bills
Source:
Solutelabs
Digital solutions can reduce healthcare costs by up to 25% while improving patient outcomes
Source:
McKinsey & Company
50% of payers’ IT capital budgets are spent on technology innovation
Your peers are also concerned about how to tackle these issue – and they are preparing for the future with technology investments.
You're not alone
Source: Global Banking and Finance Review
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
You're not alone
Source: Forbes (2021) A Challenge For Video Streamers Will Be Keeping Subscribers.
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
You're not alone
Source: 2022 Global Payments Report
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
You're not alone
Source:
FIS 2022 Global Payments Report
%
70
Consumers are using a variety of alternative payment methods. Digital wallets lead the way and are projected to rise to 52.5% of transaction value in 2025.
Your peers are also concerned about how to tackle these issue – and they are preparing for the future with technology investments.
You're not alone
Source: Global Banking and Finance Review
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
While 70% of business leaders say subscription business models will be key to their prospects in the coming years, 22% are unsure how to proceed.
You're not alone
Source: Forbes (2021) A Challenge For Video Streamers Will Be Keeping Subscribers.
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
With 64% of consumers saying they would downgrade or cancel a subscription service to pick up another, providers must provide a customer experience that distinguishes them from competitors.
You're not alone
Source: 2022 Global Payments Report
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
The global e-commerce market is projected to grow more than 50 percent through 2025 to reach over $8 trillion in transaction value.
You're not alone
Consumers are using a variety of alternative payment methods. Digital wallets lead the way and are projected to rise to 52.5% of transaction value in 2025.
Your peers are also concerned about how to tackle these issue – and they are preparing for the future with technology investments.
You're not alone
You're not alone
You're not alone
You're not alone
Schedule Your Complimentary Assessment
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
85% of pharmaceutical and medical companies plan to raise their investment in patient-centric capabilities
63% of healthcare providers are looking to streamline the number of third-party software solutions in their tech stacks
In 2021, the average breach costs for healthcare organizations increased by 29.5% to $9.32 million