< Back to Articles

How FinTech Can Contribute To Healthcare

How FinTech Can Contribute To Healthcare

The subject of fast & easy access to healthcare in most countries is a controversial one, to say the least. Add the frustration of high costs with some unexpected complications and the result is an off-putting experience to a very crucial aspect of life.

Traditional healthcare processes demand that customers navigate mundane payment systems that are prone to errors and high queueing times, which eventually overwhelms the people in current need of health coverage and discourages new ones from understanding which plan is right for them.

With health services quickly catching up with the rest of the digital world, opportunities arise quickly and the modernization of healthcare is almost inevitable; specifically enabled by FinTech companies. FinTech entities are bringing innovative financial models to every table, and healthcare is no exception. The use of artificial intelligence (AI), Machine Learning (ML) and similar technologies are progressively eliminating the inefficiencies and knowledge gaps associated with traditional healthcare services, and the mere ability to provide a seamless flow of information between patients and healthcare providers is in and of itself a huge time-and-effort-saving mechanism.

Data-centric FinTech solutions that simplify & streamline health payment processes have a great impact on the industry, using technology to accelerate healthcare data much faster and in greater quantities. Another example is healthcare-oriented, mobile-based health savings accounts and remittances. Combinations of innovative tech can be used as well, such as empowering blockchain-based FinTech platforms with AI tools to create an all-encompassing futuristic solution to data processing automation and the generation of recommendations for patients. Platforms like Simplee that provide tailored health payment options to match patient preferences is a good example of a FinTech service that focuses on patient satisfaction.

Patient engagement is where the future is heading; a future that compels healthcare networks and associated services to create personalized payment plans that deliver value and comfort to healthcare consumers, allowing to rebuild trust between them and their health services providers. FinTech has been facilitating processes for some time now, and it’s high time that healthcare benefits from the fast and reliable nature of digitized payment networks.

 

Tags

Health, Healthcare, Simplee, Medicine, artificial intelligence, AI, machine learning, ML, Blockchain, e-payment

related articles

12 November 2020

Financial Health is What FinTech Should Be Empowering

16 September 2020

Setting Digital Banking Transformation Priorities During a Pandemic

9 August 2020

Can Blockchain Technology Affect Banking and FinTech?

9 July 2020

The State of Biometrics in 2020 and Beyond

9 July 2020

Regulatory Technology is the Unsung Hero of Digital Transformation

9 July 2020

Bridging the Digital Divide with APIs

4 June 2020

The Impact of IoT on FinTech & Banking

5 May 2020

How is Banking Changing with COVID-19?

5 May 2020

Customer Service Transformation has become a must in a Digital World

21 April 2020

How FinTech can relate to the Healthcare Industry

6 April 2020

FinTech’s Critical Role in the Battle Against the Coronavirus

6 April 2020

6 Benefits of Blockchain Technology in Finance

10 February 2020

Are Baby Boomers or Gen Z the next banking customers?

10 February 2020

Humanizing Services through Smart Banking Technologies

10 February 2020

MSME Lending & FinTech: What to Expect in 2020

13 January 2020

How Digital Innovation can Transform the Future of Banks

13 January 2020

Banking Experts Forecast Key FinTech Trends in 2020

23 December 2019

How FinTech is Changing the Finance Industry.

23 December 2019

6 FinTech Trends That Will Transform Banking In 2020

8 December 2019

FinTech Trends To Keep An Eye On In 2020

26 November 2019

How many digital Middle Eastern companies have unlocked their full innovative potential?

31 October 2019

Top Five MENA Venture Capital Investments in Q3 2019

22 October 2019

Singapore FinTech Festival 2019: A Meeting of the Minds

17 October 2019

Digital Banking vs Physical Branches: Competition Not Mandatory

8 October 2019

Mastercard partners with R3 to create Blockchain-enabled cross-border payment solutions

29 Sept 2019

BEBA presents the Digital Assets & Artificial Intelligence: Shaping the Future event

9 Sept 2019

Five Technologies Expected to Reshape FinTech in 2020

25 July 2019

Egypt’s First Artificial Intelligence Faculty launched at Kafr El Sheikh University

23 July 2019

VisionBanker startup aims for radical change in eye care using Blockchain

FinTech Newsletter

Sign up to our newsletter to stay up-to-date on the latest fintech news and events.

Subscribe