PatientPay is the leading end-to-end patient payment solution focused on the complex financial challenges facing specialty healthcare. PatientPay partners with specialty care medical groups and revenue cycle management (RCM) companies to capture patient payments during every step of care.
Consumers are becoming the largest buyer of healthcare in the United States, so specialty services such as labs, radiology and anesthesiology rely on PatientPay to get paid more, faster and drive down the cost to collect. PatientPay drives a dramatic increase in patient payments through statements that align with patient Explanation of Benefits (EOB), flexible payment options, custom communications and a natural workflow for the billing staff.
Its solutions yield greater patient payment collections than traditional methods while driving down the cost to capture these payments. In addition, PatientPay gives patients a simple way to manage their healthcare-related financial obligations. The billing, payment, and reporting services are HIPAA and PCI Level 1 compliant, and reduce call volumes as well as time-intensive, error-prone, manual back-end efforts to process and reconcile traditional patient paper billing methods used today.
Medical groups who use PatientPay can realize a collection success rate that’s up to two times higher than the industry standard, expect up 50 percent savings per payment over traditional billing methods, and get paid on average in 14 days.
PatientPay was founded to bring to healthcare consumers the same type of payment solutions they use in retail and e-commerce environments. In 2012 PatientPay was granted three patents (U.S. Patent Nos. 8,155,983, 8,204,764 and 8,214,233) for its innovative process that underpins its solutions, which can be integrated with any healthcare management software. The company is headquartered in Durham, NC.
Where We Are
Thomas Furr, Chief Executive Officer/Founder, Prior to founding PatientPay, Mr. Furr was the chief strategy officer as well as a member of the Board of Directors at MobileSmith Health a publicly traded software-as-a-service (SaaS) company that provides business applications to the healthcare sector. Mr. Furr previously served as chief operating officer of MobileSmith Health where he was also responsible for a number of acquisitions to build out the product offering for MobileSmith Health. Mr. Furr sold his first company, Kinetics, Inc., to MobileSmith Health in 1995. He was a co-founder and president of Kinetics, Inc., one of the first online commerce providers for the small business industry with channel partners including Wells Fargo, First Union Bank, and Netscape.
David Bond, Strategic Advisor to the CEO, was most recently President/COO of A4 Health Systems, a healthcare company that developed a practice management and an integrated Electronic Health Record system. A4 Health Systems was sold to Allscripts (NASDAQ: MDRX) in March 2006. He was named President of the HealthMatics division for Allscripts and remained in that position until March 2008. Previously he held executive positions with Medic Computer Systems, a publicly traded company that developed a practice management system that was sold to Misys, PLC.
Vikram Natarajan, Chief Technology Officer, was most recently CTO of Medfusion, Inc. While at Medfusion, Vikram spearheaded the development of consumer facing clinical and revenue cycle applications. He has over a decade of experience leading teams in building healthcare interoperability, web and mobile solutions. Prior to Medfusion, Vikram worked in Telehealth, clinical research and in other early stage Health IT companies.
Pete Heydt, Senior Vice President, Pete is a veteran leader in the healthcare payment technology market. He’s served as VP of Sales and Sr VP of Sales and Business Development for organizations such as Bottomline Technologies, Patientco, and Payspan. With 23 years in the software industry, he’s passionate about helping healthcare organizations leverage technology and communications to impact better financial outcomes for providers, payers, and patients.