Why Software as a Service?
Traditional IT models, where equipment management, applications development, and system maintenance are managed in-house find it difficult to keep pace with the accelerating demands for business information. SaaS offers a solution to staying on the leading edge of IT while mitigating the demand for increased security, more complex applications, and a rapidly changing technology infrastructure.
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Adopt a Banking Mentality
Whether you currently love them or loathe them, financial institutions have the most extensive payment management expertise of any group of organizations in the world. They can serve as an example of how healthcare providers should handle payments, especially cash payments, in a systematic, streamlined process.
To read more about adopting a banking mentality toward payments, click HERE.
Aggregation Model vs. Biller Direct
Providing online bill payments to retail customers will cost the banking industry around $903 million in 2008 as banks outsource the providing of user interfaces and customer service to third parties. This is opposed to biller direct online payments in which customers pay the biller directly and the costs are offset by gains in productivity and work efficiency.
