Author: Vellis Team

When it comes to getting the most value for your money, banks and credit unions often offer the best rates for buying foreign currency online. Locking in your exchange rate before your trip can protect you if rates change later. Using your bank’s ATM abroad can also reduce withdrawal fees.

Currency exchange rates show the value of one country’s currency in relation to another. These rates fluctuate constantly, driven by how people and markets perceive a currency’s strength. The 24/7 Forex market enables currency trades in pairs, like EUR/USD, influenced by economic data, political events, and speculation.

First things first, the straightforward definition of capitation in healthcare can be outlined as a payment model where healthcare providers receive a set amount of money per patient for a specific time period, no matter how many services that patient actually uses.

Nowadays, maintaining regulatory compliance in general is a must-do protocol. PCI compliance in healthcare refers to adherence to the Payment Card Industry Data Security Standard (PCI DSS) for securely processing, storing, and transmitting patient payment card information.

For a concise understanding, bundled payments are a healthcare payment model in which providers receive a single, predetermined amount to cover all services related to a specific treatment or condition over a defined episode of care.

In today’s world, a fee-for-service in healthcare can neatly be explained as a payment model where providers are reimbursed for each individual service, test, or procedure they perform.

Patient financing is a financial solution that enables individuals to spread the cost of medical care over time, making it more manageable and less immediate. By offering structured payment plans or credit-based options, it helps ease the strain of out-of-pocket expenses that might otherwise delay or prevent treatment.

Healthcare payment automation is transforming how payments are processed – making them faster, more accurate, and easier to manage for everyone involved. By reducing manual work and improving transparency, it’s helping doctors, hospitals, and patients spend less time on paperwork and more time on care.

Healthcare spending in the U.S. is climbing faster than inflation. In 2023, costs rose by 7.5%, outpacing the 4.6% rise in 2022. Healthcare accounted for 17.6% of GDP in 2023, and projections suggest this will reach 19.6% by 2031. Out-of-pocket costs are also growing, with $1,425 per person in 2022 compared to $677 in 1970.

Focusing on stabilizing operations, improving affordability, and protecting patient data – the healthcare finance trends for 2025 are urgent priorities for an industry grappling with growing costs.