REDMOND, Wash.--(BUSINESS WIRE)--Paymentus Holdings, Inc. (NYSE: PAY) provider of an industry-leading, integrated Electronic Bill Presentment and Payments (EBPP) platform continues to expand its solution set for healthcare providers by certifying real-time bill posting on one of the most widely used patient portals, Epic MyChart, as well as expanding payment options for patients.
Healthcare bills are the single largest source of personal debt in the United States, outweighing all other debt combined1. At the same time, healthcare is the most difficult industry in which to make a payment, according to a recent study by US Bank. Patients want more digital payment options, including app-enabled instant payments and the option to pay via payment apps like PayPal and Venmo.
Paymentus enhanced its current payments platform integration with Epic, the leading provider of electronic health records, and MyChart, the portal used by more than 150 million patients nationwide to access important health information. The new enhanced integration enables patients to check a payment due date and complete a payment in the same MyChart environment they use to check their health records. Plus, with real-time payment posting, patients will know instantly that their payment has been received, while providers will benefit from improved reporting functionality and revenue flow.
At the same time, Paymentus’ EBPP platform includes expanded flexible payment options for patients offered by third-parties, including offering PayPal Credit* and multiple payment plan options for any balance. These fee-free and interest-free payment options are designed to provide patients increased control over their finances by allowing them to manage increasingly tight budgets while staying up to date on their healthcare services and payment obligations.
“The healthcare system can be overwhelming for patients. Delivering clear billing and payment information directly through the MyChart portal and expanding the universe of payment methods and options for patients helps mitigate the confusion often associated with healthcare bills and reduces missed payments and collection issues that can impact healthcare services,” said Dushyant Sharma, Founder and CEO of Paymentus. “Patients can focus on their physical health and providers can improve their operational processes to recognize more revenue, faster, with fewer complications. It’s a win-win situation.”
The Paymentus Instant Payment Network® (IPN) delivers one of the most comprehensive and flexible billing and payment experiences for healthcare providers and their patients. Advanced billing and communications features drive action, increase adoption, and encourage on-time payments through the most cost-efficient payment methods. These features can improve patient satisfaction while optimizing revenue and minimizing payment delays and delinquencies for healthcare providers.
With advanced engagement solutions, patients can personalize how billing information is presented, reducing confusion regarding costs and payment obligations. Billing notifications, pushed through text and email, feature click-to-pay functionality to streamline and encourage on-time payments. The IPN provides more ways to pay than any other payment solution, including ACH, secure IVR, text, email, and chat, as well as with popular digital wallets from PayPal/Venmo, Apple Pay and Google Pay.
Paymentus’ integrations with leading electronic health record systems, as well as a host of real-time and batch patient databases simplifies the end-to-end patient journey. A comprehensive payment dashboard delivers real-time payment insights, including data on all payment methods and channels. Robust analytics enhance revenue forecasting and instant posting of payments supports faster revenue recognition.
Paymentus is a leading provider of cloud-based bill payment technology and solutions for more than 1,700 billers and financial institutions across North America. The company was named the industry’s best-in-class provider of EBPP solutions by Aite-Novarica in February 2022. The Paymentus omni-channel platform provides consumers with easy-to-use, flexible, and secure electronic bill payment experiences through their preferred payment channel and type. Paymentus’ proprietary Instant Payment Network®, or IPN, connects IPN partners’ platforms and tens of thousands of billers to Paymentus’ integrated billing, payment, and reconciliation capabilities. For more information, please visit www.paymentus.com.
*PayPal Credit is subject to credit approval
Epic and MyChart are registered trademarks of Epic Systems Corporation.