TAMPA,
Fla., July 2, 2024 /PRNewswire/ -- Greenway
Health, a leading health information technology and services
provider, announced the launch of Greenway Health Pay powered by
InstaMed, giving practices and patients tools to simplify the
patient payment process, provide clear cost information up-front,
and experience frictionless patient payment options. The Greenway
Health Pay offering provides a secure, HIPAA, and PCI compliant
solution to practices and patients.
In the last decade, the use of high deductible health plans
(HDHP) with HSA accounts has more than doubled (link) and more than
quadrupled for those without HSA accounts. These HDHP plans can
have out of pocket maximums of $6,900
(individual) or $13,800 (family),
putting a much higher cost burden on the patient and shifting more
of a practice's outstanding receivables away from standard
insurance payments. For the first time ever, patient receivables
are now a larger portion of open A/R than insurance for many
practices (link).
This shift means practices are increasingly faced with the added
responsibility of educating patients on coverage and costs.
Additionally, manual outreach for patient collections and bad debt
creates more strain on practice resources. All of this presents
challenges while trying to use inadequate, ineffective
solutions.
Greenway Health Pay aims to alleviate confusion and frustrations
for patients and practices by providing easy access to cost
information, convenient payment methods and simple payment plans.
Ready to use with both of our Greenway's EHR platforms, this new
suite of solutions includes on-demand payment options, flexible
payment plans for pre-payment or existing balances, electronic
statements, and balance information. Patients will be able to
breeze through the process with the ability to have a saved payment
method or "card on file." Having the tools to provide upfront
information and the means to accept payment at all stages of the
visit allows practices to improve overall collections and
streamline disparate A/R collections processes.
Greenway Health Pay will give patients visibility and access to
electronic statements and up-to-date account balances. Patients
will have access to multiple contactless payment options through
text, email, online, card on file or their patient portal. Greenway
Health Pay will provide peace of mind with secure payment options
and simple setup of payment plans for upcoming expenses or
outstanding balances.
"With the growing financial responsibility of patients as
consumers, coupled with expectations for flexible payment options,
the patient payment space presents tremendous opportunity for
innovation", said David Cohen, Chief
Product and Technology Officer at Greenway Health. "We believe that
combining convenience and flexibility with safety and security in a
consumer-friendly package will also result in improved collections
– and financial wellness – for both providers and their
patients."
Greenway Health is a leading health information technology
service provider specializing in electronic health records with its
flagship Intergy and Prime Suite products. Greenway and its
award-winning solutions have been ranked highly in the Best in KLAS
awards by KLAS Research, an independent research organization that
assesses healthcare vendor performance through independent feedback
from users. Additionally, Greenway Health's revenue cycle solution,
Greenway Revenue Services, was named the 2023 North American
Customer Value Leadership Award in Frost & Sullivan's Best
Practices Award.
To learn more about Greenway Health and how its solutions
benefit providers, visit https://www.greenwayhealth.com.
About Greenway Health
Greenway Health provides
electronic health records (EHR), practice management, and revenue
cycle management solutions that help practices in multiple
specialties grow profitably, remain compliant, work more
efficiently, and improve patient outcomes. Its team of clinical,
financial, and technology experts serves as trusted advisors,
committed to enabling successful providers, empowering patients,
and building healthier communities. Greenway works with thousands
of providers across multiple specialties, translating into millions
of lives touched daily by its solutions. For more information on
Greenway and its holistic solutions, visit www.greenwayhealth.com,
call 877-537-0063, or follow Greenway on Facebook, Twitter, and
LinkedIn.
About InstaMed
InstaMed, by J.P. Morgan, powers a
better healthcare payments experience and connects consumers,
providers and payers for every healthcare payment transaction. As
part of J.P. Morgan Healthcare Payments, InstaMed solutions are
integrated into an end-to-end suite of payments, treasury and
banking solutions serving healthcare organizations of all sizes.
InstaMed's patented, private cloud-based technology securely
transforms healthcare payments by driving electronic transactions,
processing payments and moving healthcare data seamlessly, and
improving consumer satisfaction. Consumers, providers and payers
benefit from InstaMed's exclusive focus on healthcare, robust
analytics and proven scale.
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SOURCE Greenway Health