A Medical Banking Road Map for America

Dear Friends,

Banks have a historic opportunity to reduce healthcare costs, yet this opportunity can be squandered if medical banking stakeholders fail to address the growing momentum to implement healthcare IT in America.

HHS is moving fast, expecting a report back in 60 days, following a “tipping point” conference (NHII Cornerstones for Electronic Healthcare) held on July 20 - July 23, 2004. Under the leadership of David Brailer, PhD., our newly appointed National Health Information Technology Coordinator, numerous groups provided a consensus-based road map to implement a national healthcare information infrastructure (‘NHII’) in America. Noticeably absent from the dialogue was financial institutions.

The Medical Banking Project attempted to influence dialogue in the areas of technology and incentives, (i.e., utilizing banks to accelerate adoption of NHII). We focused our message on two ways in which banks can help:

• Credit.  MBProject defined an “asset financing for healthcare IT exchange program” and to date, has received $200 million in commitments. During the Incentives workgroup, we suggested a government-insured program to attract private capital. The final recommendation to HHS suggested that a government funding plan should require matching contributions. The program we outlined fits very well within this framework.
  
  
• Technology.  Harvesting decades of banking investment in technology and best practices to implement NHII has garnered national appeal. Casillas was interviewed by CNBC discussing one application of this intriguing area. Another recommendation coming out of the event was that HHS should consult banks, for example, to assist NHII efforts.

I spoke to Dr. Brailer about the banking stakeholder and he asked us to contact his offices for follow-up. We will leverage our work from the past 3 years (12 HIPAA Policy Roundtables over 24 months, 2 Telebriefings and 2 full-day Institutes) to develop this report. Yet it is critical that an ongoing forum be implemented. To accomplish this, MBProject has organized:

>> Five online workgroups... to facilitate ongoing exchange among medical banking stakeholders. The current areas targeted are:

 

• Healthcare Credit Practices (to form incentive programs and review credit policy)
• Workflow Automation (to develop models utilizing ebXML, interoperability, technology)
• HIPAA Compliance (includes all relevant statutes and regulations)
• Cyberwar (bioterrorism risks/opportunities in medical banking)
• Charity (using the same banking IT to implementing a public trust program)

 

>> A Face-to-Face Learning Forum...The 3rd National Medical Banking Institute (planned for Feb. 2005 in Nashville, TN) will offer an exciting venue for dissemination of workgroup subject matter and findings and policy dialogue.

 

>> A Pilot Program...Plans are underway for a pilot program that demonstrates how banking technology can be utilized to support NHII objectives.

We offer a dynamic, 3 Step Plan to move forward:

1.   Join the Medical Banking Project!   By becoming a member you will receive access information to the online workgroup area(s) you select. Our immediate goal is to conclude initial workgroup formation by August 15, 2004.

2.   Attend Your Online Meetings!  Each workgroup will develop a paper outlining how their specific area can assist in NHII adoption. MBProject will host two online meetings per workgroup through December 2004. A schedule will be published in late August. The working papers will be used to coordinate action at our upcoming Institute.

3.   Attend our Institute in February 2005!  Using the working conference model employed by Dr. Brailer at “Cornerstones for Electronic Healthcare”, the National Medical Banking Institute will provide a face-to-face forum for workgroups to develop recommendations that will be used as a Final Report to Dr. Brailer, NCVHS and HHS. The Proceedings will be formalized in a report: "Medical Banking Road Map For America ", and will show how the banking stakeholder can accelerate NHII adoption in America. The Institute will convene in February, 2005.

We look forward to working with you!