Is the Affordable Care Act an Opportunity for Payments Players?
Trillions are spent each year on health care in the U.S., and the Supreme Court's decision to uphold the ACA might only increase that number. For Trey Jinks, head of health care payments at TSYS, that spells opportunity for payments firms.
As a greater number of consumers taps into the nation’s health care infrastructure, Jinks says there are a few key areas where payments companies can step in to provide crucial services to health care providers. Beyond better compatibility with electronic records, perhaps the number one item on the list is fraud prevention; while fraud among all card transactions is well below one percent, fraud in health care is perhaps hundreds of times greater.
There’s also an opportunity to make the buying experience in health care more similar to a traditional retail experience, something that startups like Drchrono are already capitalizing on.
Listen to the full interview between TSYS’ Jinks and MPD CEO Karen Webster below.
For more information, visit www.tsyshealthcare.com
Group Executive from TSYS Healthcare
Trey leads TSYS' efforts in the burgeoning market of healthcare payments and incentives. With more than 25 years of experience in the payments industry, he has held a series of leadership roles in the company that include research and development, interchange and accounting, and international strategic planning.