"By partnering with TransEngen under this new program, acquirers can provide clients with a cutting-edge payments solution and gain a competitive advantage in the healthcare vertical."
(PRWEB) May 10, 2011
TransEngen, Inc., an innovator in transaction processing technology for healthcare, announced today the launch of a new partner program aimed at ISOs, Banks and Processors. Called the Merchant Healthcare Multiplier™ Program, this new program allows merchant acquirers to expand their healthcare customer base and keep 100 percent of the card processing residual, while at the same time, provide solutions that will capture significantly more of a healthcare provider’s patient payment volume than traditional POS terminals.
Founded by seasoned healthcare professionals, TransEngen® understands healthcare provider office workflows and the unique challenges associated with collecting patient payments. “By partnering with TransEngen under this new program, acquirers can provide clients with a cutting-edge payments solution to healthcare providers that streamlines the patient payments process, improves cash flow and increases collections,” says Michael Pileggi, Executive Vice President of TransEngen. “Our program gives ISOs and banks the opportunity to gain a competitive advantage in the healthcare vertical.”
The TransEngen payments solution, called the Revenue Maximizer, integrates multiple offerings on one processing platform, including credit/debit card, electronic check conversion/ACH, Remote Deposit Capture, and online payments via a Patient Payment Portal. It also allows for real-time eligibility/benefit verification and produces an estimate of the patient balance owed to increase point of service collections. The card on file and recurring payment features provide patients with flexible and convenient ways to pay for their care as well as increase a healthcare organization’s efficiency, reducing the potential for patient bad debt and the need for post-service billing and collection.
In addition to being PCI DSS level 1 compliant, the TransEngen payments platform is Health Insurance Portability and Accountability Act (HIPAA) compliant providing the added level of data security required when operating in a healthcare environment. The TransEngen payments platform is interoperable with most providers’ existing practice management systems and is connected to multiple processors including WorldPay™, Heartland Payment Systems®, TSYS Merchant Solutions®, Chase Paymentech™, First Data™, Fifth Third Bank (certification in process) – and the list is growing.
Healthcare organizations comprising over 10,000 healthcare providers of varying specialties and facility types across the U.S. are using TransEngen’s platform. A partnership with TransEngen provides merchant acquirers with the solutions healthcare providers require today to effectively manage patient payments, improve cash flow, and deliver a strong return on investment. This in turn will help acquirers drive sales into the healthcare vertical, improving retention and profitability of both new and existing healthcare business.
Founded in 2006, TransEngen is focused on developing intelligent technology solutions that integrate health and financial transactions into a single process, delivering real-time information at the point of care in order to streamline the health care payment process and facilitate the collection of patient financial responsibilities. The TransEngen platform provides the connectivity between payers, providers and consumers that drive efficiencies to reduce costs, improve cash flow, and reduce patient bad debt. TransEngen is leading the transformation of the healthcare patient payments process, creating valuable new functionality at nearly every transaction stage of the process. For further information, visit http://www.transengen.com.