The payment processing landscape is changing dramatically across the healthcare industry. Integrity is working with our healthcare clients to adapt to new requirements, keep their patient information safe, and receive payment promptly. For example, our partnership with Bizmatics, Inc. created an innovative financial solution for Upstate Medical Concierge Medicine that facilitates their telemedicine platform.
Integrity understands the complex payment ecosystem and the security concerns of the healthcare industry. Concierge programs of premium care and increased access like telemedicine require a monthly billing system that can securely keep credit card data on file to process renewals. As adoption of Healthcare Spending Accounts (HSA) and Flexible Spending Accounts (FSA) grows, medical offices will need to process payments through the branded credit cards used to access funds.
In office point of care, electronic records management, and practice management systems are increasingly using both terminals for card present payments and invoice billing for recurring or card not present payments. Payments made through practice or hospital websites require eCommerce solutions tailored to healthcare. Payment processing in healthcare settings require a few additional considerations including privacy and coordination with electronic health records.
Above and beyond PCI compliance and payment data security measures, patient data must always be kept confidentially and carefully. The Health Insurance Portability and Accountability Act (HIPAA) was passed in 1996 and covers health care professionals, insurance companies, and any business entity that might handle patient information in an administrative capacity. Anyone handling billing is included in these privacy rules.
The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009 mandates the use of updated electronic health records to improve efficiency in healthcare. HITECH legislates the creation of a national network of health records which plugs into a variety of government programs, including Medicare and Medicaid’s Electronic Health Record Initiatives. Healthcare professionals continue to catch up with the changing technology required to stay up-to-date and in compliance with legislation.
If you also factor in insurance companies, the need to coordinate billing and electronic health records becomes clear. Electronic health records will include all of the codes necessary to bill through insurance, Medicare, and Medicaid. Contracts between healthcare providers and benefit providers can vary from state to state, hospital to hospital, and practice to practice. Billing can become complex when healthcare practitioners need to figure out how to breakdown billing between insurance companies and the patient’s responsibility.
Software solutions are available to safely store patient information and securely process payments. Our partners Bizmatics Inc. have developed PrognoCIS, a powerful set of tools providing medical billing services with electronic health record management. This streamlines payment collections so healthcare practitioners can concentrate on treating patients. By combining electronic health record keeping with revenue cycle management and billing services, Prognocis can securely manage payments and collections.
Integrity understands the specialized needs of the health industry. We provide fast, reliable payment processing across the industry including general practitioners, dentists and orthodontists, small group practices, and large hospital systems. We make it easy for your patients to pay with a credit card and our business management tools keep your books in order.
Contact us today for more information about healthcare industry payment processing and cash flow management.
About Bizmatics Inc.
Bizmatics, Inc. Electronic Healthcare Solutions. More than a Great EHR.
Bizmatics Inc. is the developer of PrognoCIS Electronic Health Record (EHR) software, billing, and practice management services. PrognoCIS is more than just an EHR. Bizmatics is headquartered in San Jose, CA. Learn more at: http://prognocis.com