CBA ACQUIRES WHITECOAT

HIGHLIGHTS

  • CBA has acquired digital healthcare services directory Whitecoat.
  • Now online payments and claims for healthcare service can be easier for all Whitecoat users.

The Commercial Bank of Australia (CBA) has acquired Whitecoat which is Australia’s largest digital healthcare services directory. Now CBA is set to expand its presence in the healthcare sector. Whitecoat platform connects patients (users) with more than 300,000 healthcare service providers. Patients can also make payments and claims for healthcare on the platform.

Mike Vacy-Lyle, CBA Group executive for business banking, told media that this acquisition supported Whitecoat’s focus on healthcare as a growth sector. He was giving all attention to a strategic priority to provide the best digital services and experiences to Whitecoat customers.

CBA will also integrate the digital payments and claims solution into practice management platforms for Australian healthcare practitioners. This integration will be followed by new steps to increase efficiency via streamlined back-office administration, payment reconciliations, practice management software integrations, real-time reporting, and the ability to process various claims.

Mr. Vacy-Lyle added that health payments market in Australia has been estimated to be around Australian $ 180 billion. Australia had one of the best healthcare systems in the world and CBA intended to bring the best payment systems to it. Many banks all over the world are trying to gain a foothold in the healthcare space.

Integration of Whitecoat into CBA aims to provide the best integrated digital solution in the market. Healthcare service providers and bank officials can now differentiate their customer proposition in the healthcare sector, and grow in business banking at the same time.

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