Fifth Third: Banks Emerge as Vital Partners in Navigating Healthcare’s Digital Transformation

PYMNTS.com October 4, 2024

The healthcare landscape is as complex and slow moving as it is vital.

But in an industry notorious for its slow tech adoption, healthcare providers are being pushed to overhaul their payment systems as digital-first solutions become the norm. Against this backdrop, the critical role of collaboration between banks and healthcare providers has taken on a new significance.

Banks have a “360-degree view into the wellbeing of healthcare providers and what they need,” Adam Keck, senior vice president, director of managed services solutions at Fifth Third Bank, told PYMNTS, including payment activity, working capital management and asset management.

In today’s dynamic healthcare landscape, payment processes and collections are becoming increasingly complex, driven by factors ranging from the digitization of remittances...

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