TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
September 18, 2023
Source: Pymnts
U.S. Bank says it wants to give smaller medical practices the same financial help as their larger counterparts.
The bank on Thursday (Sept. 14) announced a program to offer banking, payments and wealth management services for healthcare practices with up to $25 million in yearly revenue.
“While banks have traditionally focused their healthcare services on hospitals and large medical systems, more than 50% of practitioners are in small-to-midsize practices,” U.S. Bank said in a news release.
“These practices need services that will simplify their finances and operations, so their practitioners can spend more time on patients and less time on administrative tasks,” the company added.
According to the release, the bank will add 50 new positions around the country to launch the program, with each client served by a team led by a healthcare banker.
U.S. Bank has also hired Joe Persichetti, a veteran of Huntington National Bank and Bank of America who has spent nearly 20 years dealing with healthcare banking, to lead the program.
The program is happening at a time when players on both sides of the healthcare field need help streamlining the patient experience.
“The Digital Platform Promise: How Patients Want to Streamline Healthcare Payments,” a PYMNTS and Lynx collaboration, examined the embrace of digital payments and other tasks in the previous year.
The study found that innovations such as unified healthcare platforms are helping relieve some of the problems consumers said they frequently run into, from understanding their insurance coverage to paying deductibles.
“Zooming in on the data, we learned that 21% of consumers found the actual process of paying difficult,” the study said. “Another 18% said that medical bills were confusing in ways that hampered efficient payment, with 13% unable to decipher the costs for specific services and 9% finding inconsistencies between the costs outlined on medical bill statements and those detailed within the online patient portal.”
The launch of U.S. Bank’s small-to-midsized healthcare practice program comes three months after the lender introduced a card, expense and travel management solution designed for middle-market companies.
The new U.S. Bank Commercial Rewards Card also provides rebates for business expenses to companies with yearly revenue of $10 million to $150 million.
“Emerging middle-market businesses have similar needs and opportunities as their larger competitors, but the traditional, complex corporate card and expense solutions weren’t designed for them,” Head of Middle Market Bankcard Product Dan Skaggs said in a news release.
“That’s why we created a solution tailored for emerging middle-market companies that is easy to implement and includes features many large firms benefit from today.”

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