Healthcare Tech Leader to Offer Patented Service as Part of Effort to Expand Recurring Revenue
Durham, NC (July 9, 2013) - PatientPayTM, a provider of innovative healthcare billing solutions, today announced its patented system has been selected by Greenway Medical Technologies to enhance its leading PrimeSUITE integrated electronic health record/practice management solution by enabling its customers to more easily manage the continuing growth of patient balances, estimated to exceed $1 trillion annually in the United States.
"Greenway is dedicated to constantly delivering innovation — direct from Greenway or through carefully selected strategic partnerships — that enables our customers to thrive in the ever-evolving healthcare landscape. We know that patient balances are a growing and significant challenge, particularly when it comes to collecting, reconciling and posting. After a close examination of the healthcare information technology market, we feel that PatientPay offers a superior product that adds further value to the financial capabilities of our PrimeSUITE solution," said Jared Lisenby, Greenway vice president of business development.
PatientPay eliminates the costly and complicated paper-based billing method used by the overwhelming majority of healthcare providers and drives down the expense and drives up the productivity associated with this activity by up to 50%. Since PatientPay reduces the time to payment in half, healthcare professionals realize improved cash flow and reduced accounts receivables.
The addition of PatientPay to its award-winning suite of software for healthcare organizations fits well with Greenway's accelerating shift from on-premise license sales to a subscription-based revenue model. The web-based PatientPay service quickly and easily integrates within the financial operations of Greenway customers and can be up-and-running immediately.
"Greenway has developed an innovative platform that makes it seamless for its customers to launch new services quickly and efficiently, such as PatientPay," said Tom Furr, PatientPay's CEO. "We are thrilled to be part of this exciting growth initiative and honored to have had our service selected to be a key linkage between Greenway's financial solutions and a healthcare provider's business operations by virtue of PatientPay's automated billing, collecting, reconciling and posting functions, so vital to the efficient financial management of a healthcare provider."
PatientPay is a patented, web-based service for physician groups and their patients to process and manage bills and balances. It handles the time-intensive, complicated and expensive process in minutes not days, at half the cost and with less risk than paper-based payments or traditional online portals. PatientPay, based in Durham, North Carolina, reaches more than 30,000 healthcare providers through its current network of Practice Management Software partners. The online service can integrate with any Practice Management Software to offer a complete online solution that automates billing, collections and posting of patient payments. For more information, please visit www.patientpay.com or call 1-888-730-9374.