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January 14, 2022

On the wires

Waystar Accelerates Patient Consumerism in Healthcare Payments

“Waystar’s patient financial experience solutions, including the industry-leading PatientWallet®, drives patients’ digital adoption of the payment process with personalized omnichannel engagements. Waystar orchestrates patient payment journeys at scale by annually generating $4B in out-of-pocket estimates, processing $5B in patient payments and actively managing 30M+ patient digital wallet accounts with more than $1B in patient payment plans. Providers across all healthcare settings use the Waystar platform to simplify payment complexity, representing 40% of the U.S. patient population and 500,000 providers.”

January 4, 2022

On the wires

InComm Healthcare Partners With Connect America to Offer Personal Emergency Response Services, Remote Patient Monitoring, and Medication Management Benefits

InComm Payments , a leading payments technology company, today announced that it has partnered with Connect America , North America’s largest provider of personal emergency response services (PERS) and a recognized innovator in connective health solutions, to incorporate PERS, remote patient monitoring (RPM), and medication management into InComm Healthcare’s multi-wallet benefit card. The unique multi-wallet benefit card allows health plans to deliver multiple supplemental benefit and wellness incentive programs to their members via one card.”

December 9, 2021

On the wires

Plastiq and PayGround Partner to Help Patients Better Manage and Pay Healthcare Bills

Plastiq , the smart payments platform that enables businesses to better manage payments and cash flow, and PayGround , a patient payment app that allows payment to any medical provider, announced its strategic partnership to provide patients with an integrated solution to manage and pay all of their healthcare bills in one app. Plastiq Connect APIs enable PayGround to seamlessly integrate Plastiq’s payments capabilities into its mobile app, allowing patients to create their PayGround Digital Wallet and pay their medical bills through their preferred payment method; either credit card, HSA, FSA, or even linking their bank account all from within the PayGround app.”

September 15, 2021

On the wires

Zelis to Acquire Healthcare Transparency Leader Sapphire Digital

“Zelis, a leading payments company in healthcare, announced today it entered into a definitive agreement to acquire Sapphire Digital (“Sapphire”), the healthcare industry’s leading platform for provider selection, patient access, price transparency, and digital consumer navigation. More than 100 million people rely on Sapphire to help them price, select and access care with confidence. As part of the transaction, the Sapphire leadership team will join Zelis to help lead the combined company’s healthcare consumer solutions business.”

July 15, 2021

On the web

EQT-Backed Waystar Buys Patientco in Payments Software Deal


“Health-care payments software provider Waystar has agreed to buy Patientco in a deal that bolsters its ability to collect payments from patients who have become responsible for an increasing share of health-care bills in the U.S. The deal, which could be announced as soon as Thursday, is valued at more than $450 million, said people familiar with the matter who asked not to be identified because it was private. Waystar, backed by private equity firm EQT and Canada Pension Plan Investment Board , is a so-called revenue cycle management company that helps health-care providers including doctors and hospitals collect money from health insurers and the government for the services they provide.”

June 8, 2021

On the web

Hospital System Upgrades Payments Tech to Improve Collection, Security

American Banker

“Hospital data is as confusing as it is sensitive. An automated system for collecting payments can simplify the process while also making it more secure. An additional benefit of automating payments is it improves collection efforts by allowing patients to settle their bills even when the health care provider’s call center is closed. Emory Healthcare of Atlanta has used technology from RevSpring the past three years to collect payment card data while also keeping it out of scope from the Payment Card Industry Data Security Standard.”

May 27, 2021

On the wires

InComm Payments Introduces First-to-Market Healthcare Benefits Solution

InComm Payments , a leading global payments technology company, today announced it has partnered with Visa to launch a first-of-its-kind innovative healthcare benefits solution. The Dual Network Benefit Card combines the closed-loop, UPC-restricted-spend OTC Network® and open-loop Visa network in a single card, which will enable health plans to further simplify their supplemental benefits and incentives offerings. This hybrid solution allows health plans to deliver benefits such as dental, vision, hearing and other programs across a wide variety of providers through the Visa network while continuing to offer curated catalogs and directed benefits – such as over-the-counter (OTC) medications, supplemental benefits and healthy foods – through merchants in the UPC-restricted-spend OTC Network.”

May 5, 2021

On the wires

CarePayment Patient Financing Now Available in Epic App Orchard Marketplace With New MyChart Integration

“CarePayment, a leading patient financing company offering a 0.00% APR solution to help patients pay for their healthcare, is now available through Epic’s App Orchard marketplace to help providers deliver a seamless financial experience for patients through MyChart. CarePayment has implemented with more than 100 hospitals and health systems that utilize the Epic Platform, including some of the largest academic medical centers and integrated delivery networks in the United States.”

April 14, 2021

On the wires

WEX Signs Definitive Agreement to Acquire Benefitexpress

WEX (NYSE: WEX), a leading financial technology service provider (the “Company”), today announced the signing of an agreement to acquire benefitexpress, a leading provider of highly configurable, cloud-based benefits administration technologies and services. benefitexpress significantly expands WEX’s offerings in benefits administration by adding a complementary suite of solutions to WEX’s Health offerings, including employee enrollment and decision support tools for employees, benefits administration, and important value-added services, such as Affordable Care Act compliance, dependent verification services, and other benefit administration services.”

April 6, 2021

On the wires

B.well and Mastercard Partner to Give Consumers Secure, Mobile Control Over Their Digital Health Information

b.well Connected Health today announced a partnership with Mastercard to provide individuals a simpler and more secure way to prove their identity online and in-person when accessing healthcare services.  The b.well platform brings together patient data across providers, insurers, pharmacies, and a patient’s own apps and devices, so people can share their information, manage their medications, understand their costs, and receive personalized health insights and alerts. Now, with the introduction of Mastercard’s ID Verification service, b.well users will also be able to securely verify their identity in real time using their mobile phones.”

April 2, 2021

On the web

BofA Acquires Health-Care Tech Startup Axia in Payments Push


Bank of America Corp. acquired the health-care technology company Axia Technologies Inc. as the financial giant continues to build out its products for helping merchants take payments. The deal for the startup, which does business as AxiaMed, comes on the heels of the bank’s decision to dissolve its merchant-services joint venture in favor of building a proprietary platform, Bank of America said Friday in a statement. Terms weren’t disclosed.”

March 9, 2021

On the web

Health-Care Billing Tech Firm Cedar Cares Valued at $3.2 Billion


“Health-care billing technology provider Cedar Cares Inc. said it has raised financing that values it at $3.2 billion, more than four times its value in a funding round last year. The $200 million investment was led by Tiger Global Management , with participation from Andreessen Horowitz , Thrive Capital and Concord Health Partners . Cedar’s clients include hospital networks, which use its technology to make it easier for patients to make payments online. Customers can receive text alerts and interact with chat bots to streamline the billing process.”

October 14, 2020

On the web

Nym Health raises $16.5 million for its auditable machine learning tools for automating hospital billing


“A little less than two years after raising its seed round, the Israeli-based Nym Health has added another $16.5 million to its cash haul so it can roll out its technology developing auditable machine learning tools for automating hospital billing…Billing has been a huge problem for healthcare systems in the U.S., thanks to complicated coding that needs to be entered to ensure insurance providers pay for the services medical professionals give to patients.”

February 18, 2020

On the wires

I2c and SmartHealth PayCard Deliver First of Its Kind Credit Card to Help U.S. Consumers Better Manage Healthcare Costs


i2c Inc. , a leading provider of payment and open banking technology, today announced its partnership with SmartHealth PayCard , a leading FinTech pioneer committed to changing the culture of healthcare payments. Enabled with the agile processing of i2c, SmartHealth PayCard provides the first credit card dedicated solely to healthcare, making it easier for consumers to manage their medical expenses in today’s environment of high deductibles, high co-pays and costly medical emergencies. SmartHealth PayCard is also designed for immediate payment to healthcare providers.”

October 29, 2019

On the wires

Mastercard Launches Integrated Product Suite to Optimize Healthcare Partner Technology

“Bringing its scale and advanced technology to healthcare, Mastercard is transforming its business by moving beyond cards and reimagining how its technology and capabilities can benefit the healthcare ecosystem. These solutions build upon Mastercard’s established role in healthcare – helping businesses provide their employees with convenient, reliable access to healthcare funds through Mastercard-branded Flexible Spending Account (FSA), Health Savings Account (HSA), and Health Reimbursement Arrangement (HRA) cards.”

October 28, 2019

On the web

August 2, 2019

On the wires

Zelis and RedCard to Combine in Landmark Healthcare Technology and Payments Transaction


“Zelis Healthcare  and RedCard Systems today announced a definitive agreement to merge their respective organizations, forming the next generation leader in healthcare payments optimization. The combination of Zelis and RedCard will create the healthcare industry’s first payments optimization platform with market-leading technology and solutions to price claims, pay claims and explain claims, all at enterprise scale on a claim-by-claim basis. The strategic combination of the two technology companies creates a differentiated leader with end-to-end capability across the healthcare payments ecosystem, encompassing claim cost management and payments solutions. Financial terms of the transaction were not disclosed.”

May 17, 2019

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