Have you heard about an emerging method by which payers send payments to providers via existing credit card networks? These “virtual payments” enable the recipient to process them just like a credit card transaction.
Although virtual payments do not meet the requirements for the Affordable Care Act electronic remittance advice (ERA) and electronic funds transfer (EFT) mandate, virtual payments are less expensive for payers than paper checks. As payers face increasing cost pressure from ACA, especially regarding medical loss ratio requirements,…
Retail and restaurants aren’t the only aggressive adopters of mobile payments technology today. Across the healthcare landscape, from dental practices to emergency rooms, mobile payment options are turning up with a surprising degree of speed.
But in recent months, the number of hospitals turning to mobile payments is particularly notable.
Just last month, InstaMed, a prominent healthcare payments network, launched InstaMed Go, a payment app designed specifically for healthcare, allowing healthcare providers to increase patient payments by “securely collecting at every patient…
InstaMed, the leading Healthcare Payments Network, is excited to announce the launch of its billion transaction infrastructure. InstaMed has been working on this massive, bi-coastal infrastructure expansion for 18 months to support its rapidly growing network. The InstaMed Network simplifies the healthcare payments process for 1,500+ hospitals, 70,000+ practices/clinics and 100+ billing services; connects to 3,000+ payers; and integrates with 60+ practice management systems.
With this infrastructure expansion, the InstaMed Network now supports the following:
Billions of Transactions
The InstaMed Network is now…
Member Payments solution continues to grow momentum one year after launch
PHILADELPHIA, PA (July 29, 2014) – InstaMed, the leading Healthcare Payments Network, announced today that its Member Payments solution, launched one year ago, is rapidly transforming the healthcare payments experience for consumers, providers and payers. Member Payments enables consumers to pay all of their healthcare providers directly from their payer’s member portal as soon as claims are adjudicated. Consumers can easily make payments from a secure digital wallet…
Millions of dollars in premium payments paid to payers on the InstaMed Network
PHILADELPHIA, PA (June 11, 2014) – InstaMed, the leading Healthcare Payments Network, has announced today the success of its Premium Payments solution, which enables payers to transform the consumer premium payment process by delivering a secure place for consumers to easily understand and conveniently pay their premiums. Millions of dollars have been paid to payers on the InstaMed Network with the Premium Payments solution.
With Premium Payments,…
InstaMed, the leading Healthcare Payments Network, will present an educational session on healthcare consumerism for health plans at the AHIP Institute on June 12, 2014 in Seattle, WA. Consumerism is a growing trend in healthcare that is transforming the way that health plans interact with their members and provider networks. As healthcare reform adds millions of new consumers to the U.S. healthcare system and as deductibles continue to rise, consumer confusion related to payment is becoming a growing problem and…