By Mark Brousseau
The banking landscape has fundamentally changed over the last year – and the medical banking market has changed along with it, June St. John, senior vice president, healthcare product manager, Wachovia Treasury Services, said today during the Seventh National Medical Banking Institute in Nashville, TN. As evidence of the market turmoil, St. John pointed to accelerating bank consolidation and the dwindled market capitalization of the remaining banks.
“The medical banking participants have changed, the players have changed, and the capital available for medical banking projects has been reduced,” St. John told attendees. “We have reduced capital to spend, and we really need to be coalesced as group to what is important in medical banking.”
St. John said it is all about, “how we continue to transform the medical banking products and services we offer. We need to continue to do the good work of migrating from paper to electronic, and bridge the divide between what banks can offer their constituents in healthcare, and what their constituents can do with those products and services to positively impact their organizations.”
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