Singular Payments & Zipmark Team Up to Streamline Billing and Collections of Patient Payments for Medical Professionals
ST. AUGUSTINE, FL (PRWEB) July 02, 2013 -- Leading merchant services provider Singular Payments and Zipmark, a provider of secure digital check technology that is intended to remove paper from the process of paying by check, announced today the release of PatientPayToday. The web-based portal is a product the two firms have developed in collaboration with one another to address the costly, time consuming and inefficient process of billing and collections of outstanding balances after a patient has received treatment from a medical professional.
Singular Payments boasts an extensive portfolio of medical, dental, veterinary, optometry and chiropractic practices for which it provides payment processing services that take place in the office at the time treatment is actually provided. Charles Yancey, President at Singular Payments, stated, “We believe PatientPayToday is a natural extension of the services we currently provide our clients, and rounds out our offering to medical professionals by offering a cost-effective solution for handling the invoicing and collection of payments once a patient has left the office.”
According to the Centers for Medicare & Medicaid Services, it is expected that patients will pay $340 billion in healthcare expenditures in 2016 and $449 billion in 2021. Singular Payments’ release of PatientPayToday addresses the demand for a product that aids in the facilitation of invoicing and collection of patient payments that are not paid at the time services are rendered.
Vaden Landers, Chairman & Managing Partner of Singular Payments commented, “The product is very easy-to-use, there is no cost to set it up, and it can be implemented by any practice in minutes by simply connecting a ‘Pay Now’ button to the practice’s existing web site, uploading a current bill file, and sending email notification of bills that are due to all applicable patients. All that’s left at that point is for the patient to choose his or her preferred method of payment, and complete the transaction. It really is incredibly simple and straightforward.”
Zipmark and Singular Payments previously partnered on the development of an Electronic Bill Presentment & Payment (EBPP) solution for utilities, towns and municipalities in order to collect utility bill payments (water, sewer, electricity, etc.) as well as payments for various license applications and renewals (marriage, hunting, fishing, etc.). Following that project, they made the decision to re-purpose the EBPP solution to address the challenges of handling outstanding patient balances after receiving significant interest from medical professional clientele.
Jay Bhattacharya, CEO at Zipmark said, “Partnering with Singular Payments on the development of a patient payment platform was a natural fit for Zipmark. We are focused on expanding Zipmark’s adoption within the healthcare industry and Singular’s track record is quite impressive. We’re confident that Zipmark’s value propositions including increased adoption of electronic payments, and improved cash flow for businesses will resonate well with medical practices.”
PatientPayToday can dramatically reduce the costly, time consuming and overly cumbersome process of handling payments made on balances due following treatment and once all insurance payments have been applied. It is available now and requires no additional hardware or software.
For more information, please contact Vaden Landers at Singular Payments at 877-829-2170, x. 7008, via email vlanders(at)singularpayments(dot)com, or visit the Singular Payments website at http://www.SingularPayments.com.
About Singular Payments
Singular Payments is a leading provider of electronic payment solutions within the Dental, Veterinary, Optometry, Medical, Specialty Retail, Utility & other Electronic Bill Pay verticals. Singular Payments currently processes nearly $1 billion in annual sales for businesses owners all across the country. The company prides itself on being one of the most highly recommended and endorsed merchant services providers in the industry today.
About Zipmark
Zipmark's goal is to remove barriers between businesses and their money by bringing the checkbook into the 21st century: reducing the amount of time and money it takes to make a check payment, eliminating the possibility for bounced checks and taking all risk out of the equation for payer and payee alike. Zipmark was launched in 2010 by Jay Bhattacharya and Jake Howerton, and is based in New York City. Please visit http://www.zipmark.com.
Zipmark's investors are Village Ventures, Contour Venture Partners, NYC Seed, High Peaks Venture Capital and the New York City Investment Fund.
Vaden Landers, [email protected], 877-829-2170, [email protected]
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