JP Morgan buys health-care payments firm InstaMed in biggest acquisition since financial crisis

  • 📰 CNBC
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The move by the biggest U.S. bank shows that it views the fast-changing world of payments as a battleground worthy of aggressive wagers.

So last year, J.P. Morgan surveyed the healthcare landscape for ways to ramp up investment, according to Takis Georgakopoulos, the bank's head of wholesale payments. The decision was based on the vast size and complexity of the market: U.S. healthcare spending, pegged at $3.5 trillion in 2017, is projected to reach"One of my favorite stats is approximately 90 percent of all health providers still use paper billing," Georgakopoulos said in an interview.

An illustration: Instead of filling out paper forms at a hospital reception desk and later paying by paper check, a consumer can enter information via an InstaMed app and pay with a credit-card, and information flows between doctors, payers and users seamlessly. With this acquisition, J.P. Morgan will integrate itself into the technological underpinning of the labyrinthine U.S. healthcare system in a way that's unusual for a bank.

"The idea is, you take their platform and our payments expertise and you bring it together as one package to our customers," Georgakopoulos said.While InstaMed has lofty aspirations of improving users' experiences and bringing down costs in American healthcare, the effort is completely separate from, the joint venture formed last year by J.P. Morgan, Amazon and Berkshire Hathaway. That effort is a non-profit charged with reducing costs for the companies' 1.2 million employees.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

jpmorgan first we bail you out, then give you permanent tax breaks and you figure out another way to rip off consumers while your employres can't even afford daycare.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GE is not 'telling the whole story' about its struggling power business, says JP Morgan's TusaGeneral Electric's power business is still struggling, but the company is sugar coating this in communications with investors, according to a top analyst at J.P. Morgan. Boss sultan_rowo what do you have to say about this 😅
Source: CNBC - 🏆 12. / 72 Read more »

Foreign money has fled Chinese stocks by the billions this month. JP Morgan says it's just a 'blip'Since the beginning of May, foreign money has pulled out from the Shanghai and Shenzhen markets through Hong Kong's Stock Connect platform, reportedly amounting to $7.56 billion. Foreign candy has fled Chinese stocks by the billions this month. JP Morgan says it's just a 'blip' Trump is right again. The Chinese will pay for it !
Source: CNBC - 🏆 12. / 72 Read more »

Investors will soon pay zero fees for market trackers, new research suggestsFees for the world's most popular investment funds are in a race to zero, new J.P. Morgan research revealed.
Source: CNBC - 🏆 12. / 72 Read more »