Patientco Payments Hub integrates with revenue cycle software to provide payment processing capabilities to RCM vendors and reduce PCI scope
ATLANTA–(BUSINESS WIRE)–Patientco, the market-leading healthcare payment technology company that optimizes the payment experience for healthcare providers and their patients, announced today the launch of Patientco Payments Hub. The platform integrates with existing RCM vendor technology and enhances the payment processing and settlement value that vendors bring to their provider customers, offering them a competitive advantage in the market with comprehensive healthcare-specific patient payment processing.
While other industries like banking and retail utilize industry-specific payment platforms, healthcare still has not widely adopted such technology. As such, many providers leverage separate RCM and payment processing vendors, impacting customer retention, satisfaction and market share for RCM vendors. Patientco’s healthcare payment technology has helped over 500 hospitals and practices nationwide more effectively address patient payments, and Patientco Payments Hub will open this experience to the RCM vendor market.
“Payments in healthcare are more complex than other consumer industries because of the volume and varying types of patient data that accompany every transaction. It’s very difficult for many vendors to manage PCI compliance, HIPAA regulations, and interoperability with healthcare information systems if they do not specialize in payment technology,” said Joshua Silver, co-founder and vice president of product development at Patientco. “Patientco Payments Hub offers a solution to this, with the platform built specifically for RCM vendors looking to add payment technology to their solution without the burden of managing the complexities, security, and regulations that go along with payments.”
Patientco Payments Hub provides RCM vendors a competitive edge through their existing technology with the following key features:
- Processing of all payment types, including cash, debit, credit and check with various payment methods including via phone, online or mobile;
- Automated reconciliation with guaranteed accuracy;
- Easy and fast implementation; and
- Improved payment efficiency and optimization through streamlined workflows and payment experiences.
- Reduced PCI scope
- HIPAA compliance
“There are many revenue cycle solutions in the market today providing valuable functionality like estimation and eligibility. However, most require the provider to leave the application to process payments through a payment system that is not designed and optimized for the complexity of healthcare,” said Bird Blitch, co-founder and chief executive officer at Patientco. “With Patientco Payments Hub, we’re partnering with leading revenue cycle vendors to improve the payment process from start to finish, increasing value for both the RCM vendors and their clients.”
To learn more about Patientco Payments Hub, visit Patientco at HIMSS16 at the Georgia HIMSS booth #2065 and online at https://www.patientco.com/paymentshub/.