DALLAS, Jan. 26, 2021 /PRNewswire/ -- SmartHealth
PayCard, LLC™ (SHPC), a healthtech payment solutions leader, and
SYNERGEN Health, an innovator in healthcare revenue cycle
management solutions, today announced a partnership to help
healthcare providers expand their patients' options to pay for
their out-of-pocket medical costs.
SHPC's Mastercard® credit card, designed exclusively for
healthcare expenses, will integrate with SYNERGEN Pay, SYNERGEN
Health's billing and payment collection platform, to enable
patients to apply for and quickly access a revolving credit line of
up to $30,000 to take care of
balances owed to their providers.
"SYNERGEN Pay was designed to help providers collect payments at
any time, from anywhere, while providing a range of convenient
payment choices for their patients," said Sunil Konda, vice president of product, SYNERGEN
Health. "SmartHealth PayCard will add great value to this platform
at a time when providers are faced with falling revenues and are
increasingly struggling to collect on outstanding balances as
patients are dealing with higher uncovered healthcare costs."
SYNERGEN Pay is a secure, simple-to-use, patient statement
delivery and online payment portal that streamlines patient
collections from pre-visit scheduling to post-visit follow up.
SYNERGEN Pay currently handles over 150,000 statements per month,
which has resulted in an increase in patient collections by
approximately 300%. The payment portal provides an enhanced patient
user experience with an intuitive statement format and is easily
accessible from a computer or mobile device.
According to a study in the American Journal of Public Health,
medical issues contribute to two-thirds of consumer bankruptcies.
Meanwhile, the Healthcare Financial Management Association
estimates that hospitals alone carry more than $56 billion of bad medical debt.
"We're committed to providing innovative payment solutions that
make healthcare more accessible and affordable for consumers while
improving business outcomes for providers," said Jeff Blankinship, co-founder of SmartHealth
PayCard. "We're very pleased to be teaming up with SYNERGEN Health
to help SYNERGEN Pay platform users apply for and quickly obtain a
line of credit from SmartHealth PayCard to take care of their
healthcare costs quickly, seamlessly and flexibly."
SmartHealth PayCard was launched in 2019 to give consumers a
flexible option to take care of healthcare expenses while enabling
providers to focus more resources on patient outcomes and
relationships, reduce administrative costs related to billing and
collections and improve practice cash flow.
SmartHealth PayCard is one of several payment financing options
available to SYNERGEN Pay users. From SYNERGEN Pay, patients
can view their statement balances and payment options. They are
then presented with a link to find out more information about
SmartHealth PayCard and how to apply for the card. After an
approval process that takes minutes, patients will receive an SHPC
Mastercard number, which they can use to make payments on the web,
phone, or interactive voice response systems anytime through a
fully integrated SYNERGEN Pay payment portal to any health
practitioner that accepts Mastercard regardless of provider
network.
About SmartHealth PayCard, LLC and The SmartHealth PayCard
Mastercard
SmartHealth PayCard is committed to providing financial
solutions to simplify and make healthcare affordable. We seek to
introduce transformative change to healthcare that benefits
patients, healthcare providers and society at large.
The SmartHealth PayCard Mastercard credit card is a convenient,
hassle-free way to pay for healthcare for people and their pets. It
provides a revolving credit line that can be used immediately to
pay for deductibles, copays, co-insurance and a wide range of other
healthcare costs. SmartHealth PayCard members can also save up to
85 percent on prescriptions at pharmacies nationwide. Additional
non-veterinary benefits include up to $5,000 in Accident Medical Expense coverage and
$5,000 in Accidental Death
insurance. For more information, please visit
smarthealthpaycard.com and watch this brief video
overview.
About SYNERGEN Health
Founded in 2011, SYNERGEN Health is a pioneer in the technology
and data-driven revenue cycle transformation for the U.S. health
care industry. SYNERGEN Health provides complete revenue cycle
services, advanced analytics, payment solutions, machine learning,
robotic process automation, consulting services and other software
solutions. For more information, visit: www.SYNERGENhealth.com.
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SOURCE SmartHealth PayCard