Payments processor TransFirst is partnering with PatientPay, an online health care management enterprise, to solve the health care industry’s trillion-dollar problem.
The partnership would aim to tackle the payback problems arising from changing insurance models and increasing deductibles, which not only affect the patient but often tend to be a major headache for service providers, who often have to spend money to build plans around avoiding write-offs.
“The changes that are happening in the way providers are reimbursed means it is absolutely critical that they find effective ways to collect more of what their patients owe. Our collaboration with PatientPay will give providers a valuable solution that can make a tangible difference in their receivables,” said Carl Mazzola, president of TransFirst’s health and public services division.
The two companies would work together to embed TransFirst’s online transaction processing service into PatientPay’s PCI-compliant technology, which until now has provided billing solutions to over 30,000 physicians and would now also let patients make online payments to their providers.
“The alliance with PatientPay creates a payment management solution that could make a significant difference in helping health care providers collect patient payments,” said John Shlonsky, president and CEO of TransFirst.
Using PatientPay’s upgraded platform, patients would also be able to make payments in full or alternatively schedule recurring payments that would automatically charge the patient’s registered credit or debit card, according to a press release.
The partnership comes at a time when health care companies are racing forward to compete with emerging startups, which are Uberizing the ecosystem with their on-demand mobile initiatives.
[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][/vc_column][/vc_row][vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][vc_single_image image=”148412″ alignment=”center” style=”vc_box_shadow_3d” border_color=”grey” img_link_large=”” img_link_target=”_blank” css_animation=”left-to-right” img_size=”full” link=”http://pymnts-com-develop.go-vip.net/whats-hot-today/”][vc_column_text css_animation=””]
To check out what else is HOT in the world of payments, click here.
[/vc_column_text][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][/vc_column][/vc_row]