Solution Enables Health Systems to Meet Consumer Expectations for Mobile Payments While Complementing EMR Functionality.
Sphere, Powered By TrustCommerce, a leading provider of end-to-end integrated payments and security software, announced a new collaboration with VisitPay, the leader in patient financial engagement. Together, they have launched a mobile payments solution called Text to Pay, which offers healthcare providers the ability to securely offer and accept patient payments through text messages. This innovative solution complements existing payment channels already in place to give patients an additional, convenient way to pay their healthcare bills.
Offering mobile-enabled tools for patients to manage and self-service their medical expenses is essential for healthcare providers. With the rise of high-deductible health plans and co-pays, patients today are responsible for a greater percentage of their healthcare bills. Further, consumers’ perceptions of their healthcare experience are heavily influenced by the level of transparency and convenience provided by the billing experience. People manage their lives through their mobile devices and healthcare is no different. Consumers expect to manage their healthcare needs anywhere, anytime.
Read More: Carson Group Announces Elimination of Technology Costs for Its Partners
Consumers are already demonstrating their preference for mobile channels. Up to 60 percent of VisitPay platform logins are now made through a mobile device, and rapid adoption of this new Text to Pay solution is expected. “Our patients are looking for mobile payment solutions,” commented Mike Weed, senior vice president of financial operations at INTEGRIS Health. “It is important that healthcare financial leaders meet consumer expectations for a contemporary financial experience.”
To meet this demand, Text to Pay combines Sphere’s leading secure payments platform with VisitPay’s patient-centric expertise in a first of a kind solution to enable health systems to take payments over SMS without exposing any sensitive card or patient information, and utilizing a card token already collected from the patient. Without needing to download another app, consumers can pay single visits or multiple visits at a time, using credit, debit, or ACH. Payments are posted automatically to the corresponding visit in the billing system, ensuring convenience and efficiency for the provider revenue cycle team.
Read More: H&R Block Advances Transformation Strategy With New Vice Presidents
“Through our partnership with Sphere we can help health systems offer convenient and secure payment channels to their patients,” said Kent Ivanoff, chief executive officer of VisitPay. “Mobile access to the VisitPay platform already exceeds traditional desktop usage in some regions of the US. Text to Pay is an important solution for health systems looking to meet consumers where they are, without disrupting the core EMR environment.”
“As the payments ecosystem continues to expand and extend to new frontiers, security has to be first and foremost,” said Anthony Lucatuorto, chief revenue officer of Sphere. “We have deep experience working within EHRs like Epic and are excited to offer this complementary solution that will help our clients by integrating with their existing platform in a secure and compliant way.”
Sphere and VisitPay serve many of the most recognized large, integrated health systems composed of acute facilities, ambulatory service, and every physician specialty. VisitPay’s clients represent a total of $60 billion in annual net patient revenue. Sphere processes over $25+ billion in payment volume annually.
Read More: Three ISACA Credentials Rank Among 10 Highest-Paying Tech Certifications
