Healthcare CFOs have a new resource to turn to when evaluating the return on investment for implementing smart card technology within their organizations. A new white paper released today from the Smart Card Alliance Healthcare Council outlines some of the major challenges faced by healthcare CFOs and discusses how smart card technology can provide innovative, practical and cost-effective solutions.

"Healthcare CFOs are looking for solutions that can help to reduce costs, but that also increase revenue and improve patient and physician satisfaction. This white paper has been created specifically for CFOs that are weighing the potential benefits of new and emerging technology and looking for solutions that can save time, effort, resources, and, most importantly, lives," said Paul Contino, the chair of the Smart Card Alliance Healthcare Council, and the vice president of information technology at Mount Sinai Medical Center.

The white paper, "A Healthcare CFO's Guide to Smart Card Technology and Applications," is available for download online.

"Most in the industry agree that technology is essential for healthcare reform, not only to meet regulatory requirements, but to streamline administrative activities and reduce costs. As a result, smart card use in the U.S. healthcare sector has grown significantly over the past few years," said Randy Vanderhoof, executive director of the Smart Card Alliance. "This white paper outlines key areas where smart cards can help healthcare providers reduce cost, improve processes, increase revenue and improve patient care."

Included in the white paper are an overview of smart card use worldwide and discussion about how smart cards can be used in healthcare to:

  • Reduce cost
  • Improve patient identification and workflow
  • Reduce claims denials and increase revenue capture
  • Provide authenticated and authorized access to healthcare information
  • Assist with HIPAA compliance, privacy and security requirements
  • Improve facility, network and HIPAA security
  • Provide immediate access to life-saving information
  • Improve patient and physician satisfaction
  • Provide support for a national health information network

Healthcare Council members that contributed to the white paper are BearingPoint, Gemalto, IBM, Mount Sinai Medical Center, Oberthur Technologies, OTI America, Privamed, Secure Services, SMART Association, and TrustBearer Labs.