PatientPay and Higher Standards Partner on Healthcare-Focused Payment Acceptance Solution

PatientPay and Higher Standards have partnered on a payment acceptance solution for healthcare organizations.

With this collaboration, healthcare facilities that use Higher Standards’ payment processing solution for all types of businesses and organizations will have access to PatientPay’s platform for acute, ambulatory and specialty care, the companies said in a Tuesday (June 18) press release.

“Our partnership with PatientPay, and their expertise in healthcare payments, will help us deliver solutions more tailored to the nuances of healthcare,” Bill Ernst, president of Higher Standards, said in the release.

Higher Standards supports 4,500 processing merchant accounts, with 35% of those accounts being in healthcare, according to the release.

PatientPay’s platform helps specialty care medical groups and facilities drive patient payments, the release said. It provides explanations of benefits (EOBs), flexible payment options and custom communications.

With this platform, healthcare facilities enable a streamlined billing experience for patients, increased payment rates, automated payment plan processes and lower collection costs, per the release.

“Our ability to accelerate the time to collect payments and reduce paper statements by up to 50% is one of the reasons our partners depend on us,” Tom Furr, CEO of PatientPay, said in the release. “We’re proud to partner with Higher Standards to provide their healthcare clients the ability to streamline the payments process to vastly increase patient payments.”

PYMNTS Intelligence has found that consumers encounter several pain points when paying for healthcare-related services or products.

Twenty-one percent of consumers said they found the actual process of paying difficult, 18% said that medical bills were confusing in ways that hampered efficient payment, and 16% said insurance covered less than they expected, according to “The Digital Platform Promise: How Patients Want to Streamline Healthcare Payments,” a PYMNTS Intelligence and Lynx collaboration.

In a partnership announced in August 2023, PatientPay integrated with PointClickCare’s electronic health record (EHR) platform to enhance the payment process and offer a faster and more seamless experience for both patients and healthcare providers.

That integration enables PatientPay’s patient payments platform to provide long-term and post-acute care (LTPAC) facilities with a single platform to manage payments, enabling them to improve payment efficiency.