We were extremely pleased by the enthusiastic responses to our offering during the HIMSS conference
Minneapolis, MN (PRWEB) March 24, 2008
mPay Gateway, a Minneapolis, MN company specializing in point of care patient payments, announced today the successful launch of their product into general availability during last month's Healthcare Information Management Systems Society (HIMSS) conference in Orlando, FL.
mPay Gateway delivers web-based software that facilitates point of care electronic patient payments to health care providers. The company's unique approach enables providers to obtain patient payments while the patient is still at their facility, thus reducing bad debt exposure and the need for post-service billing and collection.
"We were extremely pleased by the enthusiastic responses to our offering during the HIMSS conference," said Brian K. Beutner, mPay Gateway's chief executive officer. "Customers, potential customers and channel partners expressed continued support for our offering and confirmed there is an unmet need for our unique service. With consumers now directly paying providers over $250 billion annually, healthcare providers are ready for a single source solution that works for all patients regardless of payer affiliation."
The average physician practice in the US today writes off fifty cents of every dollar billed to patients after the patient leaves the office due to inefficient collection processes and confusing insurance plans. mPay Gateway's product simplifies the patient-provider encounter and enables the provider to collect from the patient when the services are rendered.
mPay Gateway provides a virtual POS terminal for accepting credit and debit cards for patient co-payments and other known charges.
Additionally it allows the provider to run an authorization amount based on a patient liability estimate produced off of the system. Much like the rental car and hotel environment, where the customer's card is not charged until after the customer leaves, the mPay Gateway system allows the provider to hold the authorization until the provider has a final remittance advice from the third-party payer.
"The fact that more and more consumers have a deductible on their insurance plans is adding to the complexity of payment adjudication," said Beutner. "mPay Gateway makes health care consumerism work just like other retail transactions."
mPay Gateway is working with financial services companies, as well as healthcare information software and support providers to distribute mPay Gateway's integrated and comprehensive management software to physicians, hospitals, and other health care providers.
mPay Gateway was formed in January 2004 by former executives of eBenX (a pioneer in technology to support transactions between health plan sponsors and payers) to develop financial technology solutions addressing the complex payment requirements unique to the health care environment. For more information please visit http://www.mpaygateway.com.