Leaders to brainstorm the future of ‘medical banking’

Vanderbilt Accelerator Summer Business Institute teams up with HIMSS Medical Banking Project to promote the G7 Roundtable

Media Contact:
Amy Wolf
Senior Public Affairs Officer
Vanderbilt University
(615) 322-NEWS | amy.wolf@vanderbilt.edu

Jun 15, 2010

NASHVILLE, Tenn. – As many people know, some of the biggest “pains” in health care have nothing to do with treatment and everything to do with the confusion surrounding paying for care. HIMSS Medical Banking Project is an organization that creates innovative ideas and partnerships to help make “medical banking” easier and more effective for health care organizations, financial institutions and patients.

HIMSS Medical Banking Project is creating a new group of thought leaders called the G7 Roundtable with the mission of “designing the healthcare financial network of the future.” The group will consist of healthcare providers, healthcare insurance carriers, banks, government, consumers, technology firms and employers—seven stakeholders. The first G7 Roundtable will be held in August at Vanderbilt University.

Now they’re turning to students from the Vanderbilt Accelerator Summer Business Institute to create a forward-thinking marketing plan for the G7 Roundtable to encourage companies to sponsor or join the group and generate ways to get monetary value from the organization’s cutting-edge research.

The Accelerator Summer Business Institute is an intense month-long business boot camp run by the Vanderbilt Owen Graduate School of Management. In the program, college students and recent graduates from across the country are immersed in a competitive business environment, working to create the winning solution to real challenges from top local and national companies. The students hone essential skills in marketing, sales, finance, real estate, research and corporate strategy, while participating companies receive the brain power, creativity and proposals from at least eight teams of highly motivated millennials.

“With some $35 billion spent in administrative redundancy in the United States each year on processing payments in health care, the time for transformation is now,” said John Casillas, senior vice president of HIMSS Business-Centered Systems and HIMSS Medical Banking Project. “The G7 Roundtable will benefit from the ideas of the Accelerator students as electronic financial transactions become an integral part of electronic health records.”   

The HIMSS Medical Banking Project will launch on Thursday, June 17, at the Pinnacle Tower downtown. Final presentations will take place Friday, June 25, from 2 p.m. until 5 p.m. at the Vanderbilt Owen Graduate School of Management’s Averbuch Auditorium.

Other Accelerator projects include:

  • Nashville Music Business Council & Nashville Entrepreneur Center: The future of the music business in Nashville is evolving beyond media conglomerates to smaller, more nimble companies that leverage technologies with the goal of delivering better value to fans. The Accelerator challenge is to develop an “Accelerator”-type program for entrepreneurs interested in the business of music.
  • Bridgestone Americas, Incorporated: Bridgestone has worked for years to connect its brand with the best of American sporting events. The Accelerator challenge is to design a unique customer rewards program that combines these sports connections with the customer. This is Bridgestone’s second time working with Accelerator students.
  • Lexus: Lexus has created a new hybrid vehicle that is fuel-efficient and luxurious. The Accelerator challenge is to evaluate the vehicle and its target audience and create a forward-thinking marketing plan for that audience. This is Lexus’ second time working with Accelerator students.
  • MyWerx: MyWerx is a new Nashville-based intellectual property firm with a software product designed to simplify the intellectual property process. MyWerx’s mission is to not only help protect an artist’s work, but also to make it easy for people to know who owns or licenses a work. MyWerx is turning to students at the Vanderbilt Accelerator Summer Business Institute to create a viral marketing strategy to help artists learn about the MyWerx product.
  • Oasis Center: The Oasis Center works to help young people overcome serious challenges that prevent them from transitioning into a healthy adulthood.Oasis Center desires to build life skills, entrepreneurial thinking and significance within its youth population. The current brand is more reflective of a “place” – and Oasis Center is becoming more about a “movement.”  The Accelerator challenge is to create a brand concept that reflects this expanded movement; connects with young people and inspires others who would want to help Oasis Center.

For more information on Accelerator visit the Owen website. To follow the progress of the Accelerator students and their projects, check out Accelerator on www.facebook.com, search for Vanderbilt Accelerator Summer Business Institute.

Vanderbilt Owen Graduate School of Management is ranked as a top institution by BusinessWeek, the Wall Street Journal, U.S. News & World Report, Financial Times and Forbes. For more information about Owen, visit www.owen.vanderbilt.edu.