Bank Services
"Not since the creation of the individual retirement account in the mid-1970s has such a potentially huge mountain of money landed in the lap of the financial services industry."
-- Wall Street Journal, 01/27/06
The Wall Street Journal was referring to the tremendous opportunity made available through the creation of Heatlh Savings Accounts, which have breathed new life and created renewed interest in all types of Consumer Driven Health Plans (CDHP).
This rapid growth in CDHP participation is leading financial services firms to reasses their role as a stakeholder in the growing CDHP market. There have been some early CDHP adopters who have attempted to offer specialized consumer-oriented finanical health services. These have ranged from simple, bare-bones programs to more complicated, comprehensive platforms.
One thing they have in common, however, is that they were pieced together using legacy systems that were not originally built to accommodate CDHP accounts. The overwhelming success of CDHP in the last few years has overwhelmed these patchwork systems, which were temporary solutions at best.
A CDHP Banking Model That Actually Works
Financial institutions that integrate with the DPI-Suite, however, are provided a platform that was created exclusively for CDHP. The DPI-Suite provides a proven system of seamless integration among ALL stakeholders, including an exlusive role for banks.
Although this is by no means an all-inclusive list of services, let's take a look at the two most common banking services in the CDHP model: