Paymentus Enhances Healthcare Billing and Payments Capabilities to Support Hospitals, Health Networks, and Patients
October 04 2022 - 9:00AM
Business Wire
Newly Certified Real-Time Posting
Integration with Epic MyChart and Enhanced Payment Functionality
Support Streamlined, Flexible Healthcare Payment Experience
Paymentus Holdings, Inc. (NYSE: PAY) provider of an
industry-leading, integrated Electronic Bill Presentment and
Payments (EBPP) platform continues to expand its solution set for
healthcare providers by certifying real-time bill posting on one of
the most widely used patient portals, Epic MyChart, as well as
expanding payment options for patients.
Healthcare bills are the single largest source of personal debt
in the United States, outweighing all other debt combined1. At the
same time, healthcare is the most difficult industry in which to
make a payment, according to a recent study by US Bank. Patients
want more digital payment options, including app-enabled instant
payments and the option to pay via payment apps like PayPal and
Venmo.
Paymentus enhanced its current payments platform integration
with Epic, the leading provider of electronic health records, and
MyChart, the portal used by more than 150 million patients
nationwide to access important health information. The new enhanced
integration enables patients to check a payment due date and
complete a payment in the same MyChart environment they use to
check their health records. Plus, with real-time payment posting,
patients will know instantly that their payment has been received,
while providers will benefit from improved reporting functionality
and revenue flow.
At the same time, Paymentus’ EBPP platform includes expanded
flexible payment options for patients offered by third-parties,
including offering PayPal Credit* and multiple payment plan options
for any balance. These fee-free and interest-free payment options
are designed to provide patients increased control over their
finances by allowing them to manage increasingly tight budgets
while staying up to date on their healthcare services and payment
obligations.
“The healthcare system can be overwhelming for patients.
Delivering clear billing and payment information directly through
the MyChart portal and expanding the universe of payment methods
and options for patients helps mitigate the confusion often
associated with healthcare bills and reduces missed payments and
collection issues that can impact healthcare services,” said
Dushyant Sharma, Founder and CEO of Paymentus. “Patients can focus
on their physical health and providers can improve their
operational processes to recognize more revenue, faster, with fewer
complications. It’s a win-win situation.”
The Paymentus Instant Payment Network® (IPN)
delivers one of the most comprehensive and flexible billing and
payment experiences for healthcare providers and their patients.
Advanced billing and communications features drive action, increase
adoption, and encourage on-time payments through the most
cost-efficient payment methods. These features can improve patient
satisfaction while optimizing revenue and minimizing payment delays
and delinquencies for healthcare providers.
With advanced engagement solutions, patients can personalize how
billing information is presented, reducing confusion regarding
costs and payment obligations. Billing notifications, pushed
through text and email, feature click-to-pay functionality to
streamline and encourage on-time payments. The IPN provides more
ways to pay than any other payment solution, including ACH, secure
IVR, text, email, and chat, as well as with popular digital wallets
from PayPal/Venmo, Apple Pay and Google Pay.
Paymentus’ integrations with leading electronic health record
systems, as well as a host of real-time and batch patient databases
simplifies the end-to-end patient journey. A comprehensive payment
dashboard delivers real-time payment insights, including data on
all payment methods and channels. Robust analytics enhance revenue
forecasting and instant posting of payments supports faster revenue
recognition.
About Paymentus Paymentus is a leading provider of
cloud-based bill payment technology and solutions for more than
1,700 billers and financial institutions across North America. The
company was named the industry’s best-in-class provider of EBPP
solutions by Aite-Novarica in February 2022. The Paymentus
omni-channel platform provides consumers with easy-to-use,
flexible, and secure electronic bill payment experiences through
their preferred payment channel and type. Paymentus’ proprietary
Instant Payment Network®, or IPN, connects IPN
partners’ platforms and tens of thousands of billers to Paymentus’
integrated billing, payment, and reconciliation capabilities. For
more information, please visit www.paymentus.com.
*PayPal Credit is subject to credit approval
Epic and MyChart are registered trademarks of Epic Systems
Corporation.
1 Fierce Healthcare
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version on businesswire.com: https://www.businesswire.com/news/home/20221004005164/en/
Media Contact: Tony Labriola tony@thinkinsideout.com
Investor Contact: Paul Seamon pseamon@paymentus.com
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