Banks See Healthcare Opportunity

By Mark Brousseau

Why do banks want to be at the table in the discussion about healthcare automation? Because it’s a good business to be in, Al Briand, division head, BNY Mellon Treasury Services, said today at the Seventh National Medical Banking Summit in Nashville, TN. “The reality is that it boils down to the business case being there for the healthcare transaction model,” Briand told attendees. “Now, we’re going to investigate whether we can play an even bigger role beyond transaction processing.”

Briand noted that BNY Mellon has deemed healthcare as a growth market from a business and strategy perspective. “The opportunity is there to invest,” he said, noting common elements of need underlie the traditional bank cash and payments business and that of healthcare transaction support. “The synergies of healthcare and treasury management element provide servicing efficiencies.”

Briand said standardization is the key to unlocking the power of technologies such as those for medical banking. “Standards allow technology to be leveraged in a very valuable way,” he said. “Standardization is really the key to accelerating the progress of medical banking and addressing the complexity in the healthcare and banking areas. A lot of different parties need to be involved.”

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