Fifth Third Bank, National Association, announced a strategic relationship with Health iPASS, to offer a comprehensive set of tools for Fifth Third’s healthcare clients.
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With Health Express powered by Health iPASS, Fifth Third can help existing and prospective clients that operate medical practices to streamline both time-of-service and residual patient payments. The full product suite includes touch-free virtual check-in for patients and payment assurance with card-on-file.
“With so many healthcare practices reevaluating their revenue cycle policies and procedures in this economic environment, we are aiming to help providers adapt their patient payment collection strategies,” stated Bridgit Chayt, senior vice president and director of Wholesale Payments at Fifth Third Bank. “In addition to its contactless capabilities, Health Express brings transparency for the patient and peace-of-mind for the provider during a time of uncertainty.”
This announcement follows an investment in Health iPASS earlier this year by Fifth Third Capital Holdings, an affiliate of Fifth Third Bank.
“This relationship with Fifth Third Bank represents a landmark moment for Health iPASS regarding our strategic growth plan as a company,” remarked Rajesh Voddiraju, Founder and CEO of Health iPASS. “The continued support of Fifth Third Bank is instrumental not only to our success as an emerging financial solution, but also in the larger movement towards better healthcare price transparency, improved patient collections, and ultimately better healthcare outcomes.”
Health iPASS gets your practice paid. High deductible healthcare plans are making it tougher to collect from patients, resulting in a significant reduction of provider operating income. Health iPASS transforms patient bad debt into guaranteed revenue, decreasing patient A/R in a way that your patients love. Our innovative product suite is designed to engage at every step of the patient journey, from pre-arrival with virtual check-in and appointment reminders to final payment with point-of-service collection and text-to-pay. Throughout the process, we provide patients with peace-of-mind through price transparency, so they know what they owe. Health iPASS is committed to delivering better check-ins for patients and better revenue for medical practices.
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