Levine, whose resume includes time with lenders including Bank of America, Citi and JPMorgan, will become U.S. Bank’s new head of healthcare for payments: merchant and institutional (PMI) sales distribution, the bank said in a Tuesday (June 23) news release.
“Healthcare is a priority area for U.S. Bank, with significant opportunity to help clients simplify complex payments, improve working capital and create better experiences for the people and organizations they serve,” said Peter Geronimo, the bank’s executive vice president and head of PMI sales distribution.
“Eric brings deep sector expertise, a strong treasury and payments background, and a client-first mindset that will help us accelerate growth and deliver more value to healthcare clients,” added Geronimo, who joined U.S. Bank from Citi in February.
According to the release, Levine has upwards of 20 years of experience in global payments, treasury solutions and the healthcare and pharmaceutical sectors. He joins U.S. Bank from Bank of America, where he helped provide global payment solutions to large pharmaceutical and medical device companies, and held top payments roles at Citi and JPMorgan.
In this new job, he will be in charge of promoting U.S. Bank’s focus on aligning cross-bank teams to bring “tailored solutions” to the healthcare industry, including hospital systems, payers, medical device manufacturers and life sciences companies, the release added.
“I’m excited to join U.S. Bank at a time when healthcare organizations are looking for more integrated, efficient and secure ways to move, manage and protect money,” Levine said. “U.S. Bank has the scale, expertise and client focus to help healthcare organizations navigate today’s complexity while preparing for what comes next.”
In other healthcare payments news, recent PYMNTS Intelligence and Visa Direct research explores why healthcare insurance payouts remain slower than many consumers expect, even once insurance has signed off on a claim.
The research finds a two-speed payout system, with core claims like reimbursements and coordination-of-benefits refunds heavily dependent on traditional rails. More than 90% of insurers use ACH for core claims, with almost as many still using paper checks.
“By contrast, non-claims payouts, such as wellness incentives, settlements and medical loss ratio rebates, are more likely to use faster options,” PYMNTS wrote recently.
“That gap shows that many insurers already have access to real-time payment capabilities, but those capabilities have not yet reached the claims workflows members may care about most.”
