Published: 2009-10-26 17:02:42
Author: Heartland Payment Systems | October 12, 2009
Heartland Payment Systems® (NYSE: HPY), one of the nation’s largest payments processors, announces the release of ConfirmPaySM, powered by TransEngen™. TransEngen’s leading technology streamlines the healthcare payment process and improves revenue cycles.
ConfirmPay is an integrated payments portal and healthcare eligibility verification system that allows healthcare providers to confirm patient insurance eligibility and payment responsibility in real time ― at the point of care. This new product enables healthcare providers to better manage their patient receivables and cash flow by bringing benefits transparency to the point of care and simplifying the payment process.
ConfirmPay streamlines workflow ― enabling practice administrators to spend less time verifying a patient’s eligibility. Using a web-based portal, personnel can retrieve eligibility and benefit information including remaining deductible balances, co-pay and co-insurance amounts ― as well as estimate the amount a patient will pay based on specific CPT and HCPC procedures and services performed.
ConfirmPay also enables a provider to obtain a form of payment from the patient at the point of care for future processing through a secure card-on-file feature. For added flexibility and efficiency, healthcare providers can import patient demographics, organize patient payment history, arrange recurring billing and other payment plans and export daily transaction reports into their practice management or patient billing systems.
According to William Collins, senior director at Heartland, ConfirmPay helps alleviate healthcare providers’ cash flow concerns related to delayed or unpaid patient payments.
“Instead of waiting for a claim to be adjudicated to determine a patient’s payment responsibility, providers can now know that information in minutes and accept a patient’s payment at the point of care,” Collins explained. “Patients benefit from easy-to-understand statements that eliminate the surprise of receiving invoices from providers months after receiving care.”
ConfirmPay processes all electronic payments including ACH and credit/debit cards, as well as paper checks, by converting them to electronic fund transfers.
For more information, email ConfirmPay@e-hps.com or visit Heartland at Booth #439 at the Medical Group Management (MGMA) 2009 Annual Conference. The conference is being held October 11 – 14 at The Colorado Convention Center in Denver, CO.
About Heartland Payment Systems
Heartland Payment Systems (NYSE: HPY), the 5th largest payments processor in the United States, delivers credit/debit/prepaid card processing, payroll, check management and payments solutions to more than 250,000 business locations nationwide. Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. For more information, please visit HeartlandPaymentSystems.com, MerchantBillOfRights.com, E3Secure.com and CostOfABurger.com.
About TransEngen, Inc.
Founded in 2006, TransEngen has developed a technologically advanced and integrated platform capable of processing both healthcare and financial transactions. The platform provides the end-to-end connectivity between payers, providers and consumers that drive efficiencies to reduce costs, streamline payments and reduce provider collection efforts for patient self-pay responsibilities. With solutions directed at both payers and providers, TransEngen is leading the transformation of the healthcare payments process, creating valuable new functionality at nearly every transaction stage of the process and delivering real-time information at the point of care. For further information, visit www.transengen.com.
Forward Looking Statements
This press release may contain statements of a forward-looking nature, which represent our management's beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors. Information concerning these factors is contained in the Company's Securities and Exchange Commission filings, including but not limited to, the Company's annual report on Form 10- K or Form 10-Q as applicable. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.