Discover Global Network, the payments brand of Discover, will facilitate payments for TYDEi’s new healthcare vendor management system, thereby digitizing and streamlining payments in an industry where 85 percent of healthcare purchasing is done manually via paper checks. This partnership will contribute to improved solutions addressing the nearly $40 billion in waste and inefficiencies associated with healthcare invoicing.1
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“Our combined efforts have generated the first payment solution truly crafted to benefit the healthcare facility.”
TYDEi’s solution offers an industry-first solution for hospitals to connect with their suppliers. It reduces common frictions in hospital purchasing by moving the procurement process to a block-chain enabled platform that reduces costs and risks for hospitals. The partnership with Discover Global Network will enable TYDEi’s payments platform, offering hospitals a streamlined and secure way to pay for and track payment for supplies. Currently, Day Kimball Healthcare (Putnam, CT) and Lighthouse Surgery Center (Hartford, CT) use the TYDEi platform.
“The healthcare payments sector is a trillion dollar market and Discover’s entrance into this space continues to showcase how our payment solutions can benefit many different industries,” said Megan West, director of business development at Discover. “TYDEi is offering an innovative solution and through our partnership is able to provide a seamless payments experience for their customers.”
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“This partnership represents an incredible leap forward in healthcare payments by providing automation, digitization and a trusted payment network in one platform,” said John Hatchell, co-founder and CEO, TYDEi Health. “Our combined efforts have generated the first payment solution truly crafted to benefit the healthcare facility.”
“As a large ambulatory surgery center our purchasing, supply chain, and inventory management is outdated and time-consuming,” said Dr. Michael Joyce, CEO, Lighthouse Surgery Center. “TYDEi and Discover Global Network are solving the right problem at the right time. They allow us to streamline our system and improve our productivity with the best payment platform in the healthcare industry.”
Discover Global Network has more than 280 million cardholders, more than 60 million merchant acceptance locations and 1.8 million ATM and cash access locations. Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 25 alliance partner networks across the globe. The network supports payments through unique payment solutions in industries such as healthcare, transportation, higher education, government, insurance and gaming.
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