Fifth Third Bank and Health iPASS Announce Strategic Relationship

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Health Express powered by Health iPASS to Simplify Managing Patient Payments

"In addition to its contactless capabilities, Health Express brings transparency for the patient and peace-of-mind for the provider during a time of uncertainty.”

Fifth Third Bank, National Association, today announced a strategic relationship with Health iPASS, to offer a comprehensive set of tools for Fifth Third’s healthcare clients.

With Health Express powered by Health iPASS, Fifth Third can help existing and prospective clients that operate medical practices to streamline both time-of-service and residual patient payments. The full product suite includes touch-free virtual check-in for patients and payment assurance with card-on-file.

“With so many healthcare practices reevaluating their revenue cycle policies and procedures in this economic environment, we are aiming to help providers adapt their patient payment collection strategies,” stated Bridgit Chayt, senior vice president and director of Wholesale Payments at Fifth Third Bank. “In addition to its contactless capabilities, Health Express brings transparency for the patient and peace-of-mind for the provider during a time of uncertainty.”

This announcement follows an investment in Health iPASS earlier this year by Fifth Third Capital Holdings, an affiliate of Fifth Third Bank.

“This relationship with Fifth Third Bank represents a landmark moment for Health iPASS regarding our strategic growth plan as a company,” remarked Rajesh Voddiraju, Founder and CEO of Health iPASS. “The continued support of Fifth Third Bank is instrumental not only to our success as an emerging financial solution, but also in the larger movement towards better healthcare price transparency, improved patient collections, and ultimately better healthcare outcomes.”

About Health iPASS: Health iPASS gets your practice paid. High deductible healthcare plans are making it tougher to collect from patients, resulting in a significant reduction of provider operating income. Health iPASS transforms patient bad debt into guaranteed revenue, decreasing patient A/R in a way that your patients love. Our innovative product suite is designed to engage at every step of the patient journey, from pre-arrival with virtual check-in and appointment reminders to final payment with point-of-service collection and text-to-pay. Throughout the process, we provide patients with peace-of-mind through price transparency, so they know what they owe. Health iPASS is committed to delivering better check-ins for patients and better revenue for medical practices.

About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of June 30, 2020, Fifth Third had $203 billion in assets and operated 1,122 full-service banking centers and 2,456 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2020, had $405 billion in assets under care, of which it managed $49 billion for individuals, corporations, and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at http://www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC.

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Imran
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Shandi Grant
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