New Solution Demonstrates 50 Percent Decrease in Patient Receivables MINNEAPOLIS, Oct. 12
MINNEAPOLIS, Oct. 12 /PRNewswire/ -- mPay Gateway, the leader in patient payments, today announced an agreement with Allscripts, the leader in software, services, information, and connectivity solutions for physicians and hospitals, to provide its point-of-care patient payment technology to Allscripts practice management and revenue cycle management clients nationwide.
The U.S. health care payment system is shifting to a consumer-driven model, making patient payments the fastest growing portion of a provider's revenue stream. However, many practices write off as much as 50 percent of patient payments as bad debt, contributing to industry-wide losses of $300 billion per year.
Allscripts Patient Payment Assurance(TM) powered by mPay Gateway dramatically reduces patient payment issues by addressing payments at the point of care.
"Customers using Allscripts Patient Payment Assurance now have the opportunity to decrease administrative hassles typically associated with patient payments," said Lee Shapiro, president of Allscripts. "This technology allows providers to calculate the patient responsibility and obtain payment authorization before the patient leaves the office. This eliminates billing hassles and ultimately enhances the provider-patient relationship."
Using technology from mPay Gateway, Allscripts Patient Payment Assurance provides point-of-care collection of credit card and debit card payments, which all but eliminates the need for patient billing. The solution enables providers to calculate how much the patient owes, based on their own rates and the patient's insurance, and obtain payment authorization before the patient leaves the office. The patient's payment card is charged only after the clinic settles the claim with the insurance company. Clinics that are utilizing the solution have realized 50 percent decreases in patient receivables.
"We are excited to extend our offering to the tens of thousands' physicians and other health care providers who already use Allscripts awarding-winning practice management and revenue cycle management solutions," said Brian Beutner, chief executive officer for mPay Gateway. "Practices using mPay Gateway are actually preventing overdue and uncollectible patient accounts. In fact, we have seen practices cut their patient payment receivables in half by utilizing our technology."
Medical groups using Allscripts practice management and revenue cycle management solutions employ more than 110,000 physicians nationwide.
About mPay Gateway, Inc.
mPay Gateway is a Minneapolis, Minn.-based company that develops financial technology products and services to support health care's complex and unique payment environment. mPay Gateway empowers health care providers with a payment solution that enables collections from patients at the point of care, regardless of the patient's third party payer affiliation or the provider's practice management solution. mPay Gateway is a PCI-certified acquiring card processor. For more information, please visit www.mpaygateway.com.
SOURCE mPay Gateway
