Payment Methods

The Doctor is in … On Your Smartphone

Needles are painful, no matter how you cut it. Healthcare payments, however, don’t have to be. InstaMed Go, is a new payments solution that will help providers reduce the payment pain of healthcare payments.

InstaMed’s core business claims to help providers reduce time it takes to collect payments and the costs that healthcare providers pay to collect monies owed. With its new  payments app, InstaMed Go, patient payments can now be collected from any location – from ER, to home visit, or in the doctor’s office – and automatically posted to practice management systems, decreasing wait times for forms to clear or be sent on to insurance claims. InstaMed Go also promised to help reduce settlement and disbursement costs with electronic payments.

Since many hospitals and doctors offices have already taken advantage of tablet technologies, they are able to support the InstaMed Go app into their devices. InstaMed reports that Colorado, Aspen Valley Hospital, has seen the benefit of being able to collect payment on site. “We were missing the opportunity to collect during the visit, which meant that we had to collect in the back office, requiring multiple statements and follow-up calls. [InstaMed Go] empowers us to collect during the visit and ensure the patent responsibility is paid before they ever leave the hospital” said Terry Collins, CFO of Aspen Valley Hospital.

CEO and President of InstaMed, Bill Marvin, explains, “the growing use of mobile in healthcare offers providers new opportunities to collect patient payments in more places than ever before and as healthcare organizations go mobile, they need to be aware of the compliance and security risks”.

InstaMed company was founded in 2004 and has raised over $53.6.  The company processes billions in healthcare payments each year for over 1,500+ hospitals, 60,000+ practices and 100+ billing services. InstaMed Go is an independently certified and accredited network that can handle both healthcare and payment transactions and is compliant with PCI, EHNAC standards, HIPPA, and PCI-DSS.

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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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