Who Should Join? (from the website) ”Bankers, healthcare organizations, large employers, IT executives, attorneys, accountants, CFOs, compliance officers, federal and state regulators, lobbyists, treasury and cash management executives, private banking executives, patient accounting managers, health data clearinghouses, financial clearinghouses and others.”
What do the banks base their intelligence and projections on, algorithms so if you have hung around this blog long enough and have seen the word in the middle of the page with a link to Wikipedia, get ready to hear about “the algos” as they are called on Wall Street. This is somewhat a transition from the big focus in the past being inside the clinical area primarily although that portion is still part of the main convention.
You may get an earful here as the press release states part of the financial section of the meeting is to learn about where banks invest with business intelligence and the algorithmic formulas that lead them to their decision making processes. You can read the paragraph above where they are pretty much encouraging everyone to join, even lobbyists.
Small tidbit of information here relating back to the stock market crash, remember the articles n the press about how Microsoft was pushing their new high powered server 2 days afterwards and everyone couldn’t figure that out, well look at Goldman Sachs, they were spending money 2 days later to update their technologies and it is a mix of their investments and prudent programmers that wrote the code to allow investors to work with their proprietary code and created trading software that is highly robotic for investors to use.
One more time it’s the algorithms that control the flow of funds and money today and this effort is being bridged into healthcare at a pretty rapid pace and thus we have Medical Banking to learn about. I call it “high frequency healthcare” modeled after one of the the same methodologies used on Wall Street which is “high frequency trading” where 1/30th of a second makes or breaks a transaction with super powered computers sporting 4 Xeon Intel processors and the right formulas enabling the speed to capture a transaction before others have the same opportunity. Is this the future of clearinghouses with claims, who knows? BD
CHICAGO – (December 10, 2009) – Designing the Healthcare Financial Network of the Future, a centerpiece program that seeks to support overall health improvements by leveraging banking systems, will be offered on March 1-2, 2010 at the Omni Hotel in Atlanta, Ga. The program is held in conjunction with the Healthcare Information and Management Systems Society (HIMSS) Annual Conference & Exhibition at the Georgia World Congress Center from March 1-4, 2010.
The program’s theme focuses on a new, multi-year global strategy tied to HIMSS’ acquisition of the Medical Banking Project earlier this year. The Medical Banking Institute@HIMSS10 is open to all HIMSS attendees interested in the medical banking area.
“Demands on financial systems, both domestic and global, have created new roles for banks, said John Casillas, senior vice president, HIMSS MBProject, Business and Financial Systems. “There is a growing need for banking systems to improve fiscal processes for payers and providers.”
Industry leaders representing payers, providers and other stakeholders will convene in a neutral setting to identify and discuss critical path issues that currently impede cross-industry efficiency. Topics include emerging functions in the new ‘health-wealth’ paradigm to standards and best practices that simplify and automate workflows.
The Institute will feature sessions on health data privacy and security in banking channels as well as:
· Discussion that contextualizes general healthcare trends against medical banking metrics;
· A senior level banking panel that will help healthcare providers and payers to understand how banks are investing in revenue management technologies;
· Case studies that show the emergence of bank-driven community care platforms and more.
Preceding the Institute, the HIMSS Medical Banking Boot Camp will offer attendees an overview on the emerging role of banks and financial institutions in healthcare. The Boot Camp will meet from 1-5 p.m. on Feb. 28, 2010 at the Georgia World Congress Center.
Registration for the Institute and Boot Camp is now open. Hotel reservations can be made through Ambassadors.
Visit the HIMSS Medical Banking Institute Web site for more information.
The Healthcare Information and Management Systems Society (HIMSS) is a comprehensive healthcare-stakeholder membership organization exclusively focused on providing global leadership for the optimal use of information technology (IT) and management systems for the betterment of healthcare. Founded in 1961 with offices in Chicago, Washington D.C., Brussels, Singapore, and other locations across the United States, HIMSS represents more than 23,000 individual members, of which 73% work in patient care delivery settings. HIMSS also includes over 380 corporate members and nearly 30 not-for-profit organizations that share our mission of transforming healthcare through the effective use of information technology and management systems. HIMSS frames and leads healthcare public policy and industry practices through its educational, professional development, and advocacy initiatives designed to promote information and management systems’ contributions to ensuring quality patient care. Visit www.himss.org for more information.