SANTA ANA, Calif.--(BUSINESS WIRE)--Capario, a leading provider of revenue cycle management solutions that connect healthcare payers and providers nationwide, today announced the launch of its integrated patient pay solution. Through its relationship with TransFirst, a leading provider of transaction processing services and payment enabling technologies, healthcare providers will be able to leverage Capario’s eligibility verification functionality to identify and collect patient co-pays and deductibles, and bill and collect payments from patients after insurance has paid its portion.
Capario identified a need for a patient payment solution due to the difficulties providers face when determining a patient’s financial responsibility and collecting from patients at the time of service and once they leave the office. According to a recent report entitled “Perspectives on Patient Payments” by MGMA Connexion, 30 percent of patients leave the physician’s office without paying. For unpaid bills turned over to a collection agency, providers recover on average $15.77 for every $100 owed.
Integrated with the Capario portal, this service provides both front- and back-office staff with the ability to easily capture payments, controlling each step of the patient revenue cycle. From pre-service collections to final patient billing, Capario’s new patient pay solution allows providers to:
- Collect patient payments quickly through the Capario portal at check in and check out with credit card swipe technology;
- Create paper or electronic statements to be sent to patients after insurance has paid;
- Maintain a practice-branded patient payment portal where patients can easily view their statements and pay their balances online;
- Accept and post checks received in the mail using ACH check conversion, eliminating a trip to the bank;
- Offer the option of extended payment plans or recurring payments to patients as necessary; and
- Establish a protocol around collecting past and current patient account balances at the time of service in order to reduce the number of A/R days.
“With this solution in place, customers can use a single, easy-to-use Web portal to complete each step of the revenue cycle,” explains Jim Riley, president and CEO of Capario. “For many practices, collecting from patients has become a real problem and this solution streamlines that process. In addition, our patient pay solution furthers Capario’s vision to simplify the healthcare reimbursement process, making it easier for providers to get paid faster, easier and more accurately.”
About Capario
For more than 20 years, Capario has provided industry-leading technology solutions to help providers get paid more quickly and more accurately. Capario operates a single, nationwide, real-time, open network that powers its revenue cycle management solutions. Capario has connectivity to more than 5,000 payers and is directly connected to more than 74,000 providers and an additional 200,000 providers via vendor partners. Based in Santa Ana, Calif., Capario is accredited by the Electronic Healthcare Network Accreditation Commission (EHNAC) and the CAQH® Committee on Operating Rules for Information Exchange (CORE®) for Phases I and II. Capario is a privately held company owned by Marlin Equity Partners. To learn more, visit www.capario.com.
About TransFirst
A leading provider of secure transaction processing services and payment enabling technologies, TransFirst offers innovative products and services designed with financial institution, independent sales organization, healthcare, e-commerce, government and merchant customers’ unique needs in mind. By collaborating with our customers and utilizing strong industry knowledge, we help them grow their businesses. Founded in 1995, TransFirst continues to attain significant market share and world-class expertise in growing profitable industry segments. Built on a platform of personal service, customer commitment and flexible pricing, TransFirst is headquartered in Hauppauge, New York, and has operations facilities in Aurora, Colorado; Broomfield, Colorado; Omaha, Nebraska; Overland Park, Kansas; Franklin, Tennessee; Cypress, California; and executive headquarters in Dallas, Texas. Company-wide, TransFirst currently processes approximately $30 billion in annual sales volume for more than 175,000 merchants and financial institution partners. For additional information, please call 631.840.6900 or visit www.TransFirst.com.
About Marlin Equity Partners
Marlin Equity Partners is a Los Angeles, California-based private investment firm with over $1 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs in special situations. Marlin invests in businesses across multiple industries that are in the process of undergoing varying degrees of operational, financial or market-driven change where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company's outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 30 acquisitions. For more information, please visit www.marlinequity.com.