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.

——————————–

Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. In the December 2019 Mobile Card App Adoption Study, PYMNTS surveyed 2,000 U.S. consumers for a reveal of the four most compelling features apps must have to engage users and drive greater adoption.

Click to comment

TRENDING RIGHT NOW