18
ASC
MANAGEMENT
4 ways Apple could
transform medical
billing
By Angie Stewart
A
pple could build upon its health technology and fi-
nancial services efforts by entering the medical billing
space, CNBCr eports.
e company seems to be moving in that direction, said Flo-
rian Otto, CEO of the patient billing app Cedar, to CNBC.
Four opportunities for Apple:
1. Apple could help physicians get paid on time, simultane-
ously tackling the problem of medical debt. Nearly 3 in 10
insured Americans have had an unpaid medical debt sent to a
collection agency, which hurt their credit scores.
2. Apple's large sales team is working on introducing iPads in
every hospital, having Apple Pay on those iPads could help
patients pay fees or copays upfront. About 5 percent of patients
use Apple Pay, Cedar found.
3. Patients oen see weeks go by before they get a bill from
their insurer. If Apple makes a serious investment in the medi-
cal billing space, Apple could provide real-time price estimates.
4. Apple could establish a group to negotiate with providers and
payers in an effort to manage prior authorization, a process that
can take months.
"It's one of the questions we asked ourselves before even
starting our company," Mr. Otto told CNBC. "Could Apple
someday come along and solve this problem from a different
angle?" n
It's one of the questions we
asked ourselves before even
starting our company. Could
Apple someday come along
and solve this problem from a
different angle?
