Columbus, Ga., Sept. 23, 2005 - Staggering increases in the costs of corporate health benefits and other economic factors are driving a new consumerism in the form of consumer-directed health plans that's resulted in a window of opportunity for financial institutions to enter the healthcare sector, says Bob Borneman, vice president of healthcare product development for TSYS Prepaid.
"Because corporations' average cost of healthcare has doubled since 1999, consumers are being asked to share more of the burden for the cost of their healthcare.In response, we're seeing a proliferation of health-savings accounts and related services," Mr. Borneman
"Now that they have more accountability for their healthcare payments, consumers realize that they are more comfortable dealing with their banks than their health plans," Mr. Borneman
says."Banks can leverage this opening by linking debit cards to these healthcare accounts, which will create new revenue opportunities."Mr. Borneman
will discuss these trends and the technology requirements for banks that are evaluating healthcare strategies at the 13th Annual ATM & Debit Forum
, an event hosted by SourceMedia Conferences.The ATM & Debit Forum
will be held Sept. 25-27 at Miami's Sheraton Bal Harbour Beach Resort.For more information about the conference, see www.sourcemediaconferences.com.Mr. Borneman
is a 16-year veteran of the healthcare industry, with experience in claims and related healthcare-transaction processing for healthcare providers and payers.After working for healthcare technology firms such as ProxyMed, MedUnite, Equifax Healthcare EDI and others, Mr. Borneman joined TSYS Prepaid in 2004 to develop the company's emerging healthcare initiative.He holds a bachelor's degree from the University of Georgia (Athens, Ga.) and a master's degree from Georgia State University (Atlanta, Ga.).