Case Studies

Financial Services Company Leads Industry with Streamlined Payment Processing for Healthcare

One of the world's largest financial services companies (The Client) was under pressure to quickly enhance and automate medical payment processing for some of its premier healthcare clients. Specifically, the Global Treasury Services and Products Solutions division had a new go-to-market strategy that turned their attention to the $5 trillion healthcare industry that represents a $2 billion market for payment processing. The Client wanted to capitalize quickly on protecting and serving this valuable book of business by offering an innovative solution that would help customers collect their revenue easier and faster.

North Highland recognized The Client's challenge and leveraged its deep healthcare expertise and contacts to help develop and launch an innovative, end-to-end payment solution in an accelerated timeframe. The goal was to develop quickly a solution that would create efficiencies for its customers, enabling improved pricing, and establishing a first mover advantage.

As a result of this engagement, The Client has launched a patent-pending solution to solve the growing challenges and inefficiencies faced by hospitals and healthcare providers in their billing and collections processes. As of 2009, no other financial institution in the world offers a comparable, fully-integrated solution to address the diversity of payment vehicles for post-service billing. The process is uniquely designed to make the transition from paper to electronic billing and collections effortless for the healthcare provider. The estimated annualized revenue for The Client from this new product is estimated to be over 10 times its initial investment.

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