PatientPay creates patient payment solutions that help patients, practices, hospitals and revenue cycle management providers better control expenses in today’s healthcare environment.
Its solutions yield greater patient payments than traditional methods for collecting while driving down the cost to capture these payments while giving 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.
PatientPay solutions are the only ones to match patients’ Explanation of Benefits (EOB) with provider charges, eliminating confusion when trying to determine their responsibility. Providers who use PatientPay can realize a collection success rate that’s 3.5 times higher than the industry standard, expect up to $4.00 savings per payment and get paid on average in less than 14 days.
PatientPay is designed to serve the needs of individual practices, multi-location physician groups and major hospital networks, as well as companies providing revenue cycle management services.
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, was most recently the Chief Strategy Officer and Board member at Smart Online, Inc. a publicly traded Software-as-a-Service (SaaS) company that provides small business applications via a private label distribution channel strategy through Fortune 1000 companies. Prior to this position, Tom was its Chief Operating Officer. Tom sold his first company, Kinetics, Inc., which was one of the first Internet commerce providers for the small business industry, to Smart Online in 1995. Before founding Kinetics, Furr managed both national and international sales channels for leading software companies.
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 Heath 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.
Anil Kamath, Chief Technology Officer, was most recently CTO of Smart Online, Inc. While there Kamath, one of its original employees, drove the technology strategy and development efforts including white label platform and database architectures used by large organizations such as JPMorgan Chase and Amway. In addition, Kamath participated in documenting and testing IT risks and controls for Sarbanes-Oxley compliance. Prior to working at Smart Online, Anil worked at A4 Health Systems and Imonics.
Paul Boemer, Executive Vice President, has built business units, divisions and whole companies that delivered meaningful benefits to their customers and measurable results to their stakeholders. He has more than three decades of experience in the healthcare accounting and payments industry. He was with FIS, a global leader in financial services technology and outsourced services, rising to the position of Senior Vice President, Healthcare and Government Solutions, and has been a consultant to a number of organizations in electronic processing and payments.