B2B Payments

TransFirst Modernizes Medical Billing Process

Apple and IBM have nabbed attention lately for their recent initiatives to digitize various aspects of the workday for health care providers. But payment processing servicer TransFirst is doing its own part to modernize the health care industry through more streamlined billing.

In an announcement made Tuesday (May 5), TransFirst revealed a new partnership with medical billing software firm iNtelli-Bill, a unit of American Medical Systems. Their strategic alliance will integrate TransFirst’s payment processing services into iNtelli-Bill’s own tool, HorizonMIS, for physicians that handle their own billing.

According to the firms, the collaboration aims to increase cash flow to medical service providers, often struggling to receive payments as patients often prioritize their medical bills last, after credit cards, car payments, mortgages and utility bills.

iNtelli-Bill CTO Larry Evans said in a statement that the new partnership will increase payment options for payments and save both health care providers and patients time and money. “Physicians may see increased cash flow while reducing the costs associated with collecting patient payments and should see a marked decrease in outstanding patient receivables,” he added.

TransFirst President of Health and Public Services Carl Mazzola said that the collaboration will allow health care providers to get paid “anytime, anywhere” and allow patients to settle their invoice in full or through payment plans.

——————————–

Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

Click to comment

TRENDING RIGHT NOW