The landscape of healthcare is changing, and for better. The term- ‘Positive Disruptive Innovation’ has made the healthcare providers committed to improving the quality of healthcare solutions while effectively reducing the costs involved. For balancing this financial curve, value-based, state-of-the-art RCM has become a thing of prime importance. A company focused on technological innovation in payment processing to render state-of-the-art billing solutions to the healthcare industry is BillingTree. It is a leader of payment solutions for the new age. Through its technology-driven suite of products and services, the company empowers organizations to increase their efficiency and decrease the costs of accepting payments and patient/consumer communications, while adhering to the most stringent compliance regulations.
Headquartered in Phoenix, Arizona, BillingTree was established to meet the market’s growing demand for a vertically-focused provider of integrated payments solutions. Today, it is the leading provider of these solutions to the Healthcare, ARM, Property Management, B2B, and Financial Services industry verticals.
Journeying to the Top
Incepted in 2003, BillingTree has witnessed constant and spectacular growth over the years. Initially, it was founded mainly as a sales and marketing company with ACH processing. Later, it developed the business model of integration with an ARM software package beginning with CR Software. Within a few years, it added credit card processing, offering its customers an easier, more secure, faster, and cost-effective payment-processing solution. With the announcement of the integration of new digital payment solutions including CareView into its suite in 2018, BillingTree has journeyed to become a leading a fintech innovator. The testimony to its incredible growth in innovation is its Payrazr that offers its customers comprehensive, in-house developed payment solutions and CareView Patient Hub.
The Perfectly Designed Suite
The BillingTree’s CareView HUB is a suite of sophisticated features and services designed to rapidly communicate and accurately capture healthcare-focused patient payments securely through multiple channels.
It empowers the patients with the ability to make a quick, one-time payment against an outstanding bill. They can also enroll their credentials for a more enriching portal-based account management experience where they can view statements, setup payment plans, view payment history, and save virtual wallets. Moreover, with CareView HUB, patients can pay at the point of care with their credit/debit/FSA/HSA card or via cash and check, further enhancing the channels and methods of payment available. It also supports SMS notifications and mobile text-to-pay along with inbound Interactive Voice Response (IVR) to check balances and make payments over the telephone.
Additionally, for the practitioner, this suite allows customer service agents to have a full range of always-on features to capture payments and obtain advanced reporting of transaction activity. It also supports fully customizable data integration within every leading healthcare practice management system. If the healthcare practice doesn’t have its own merchant account to accept credit cards or eChecks, BillingTree offers these with a fast turnaround – getting any practice up and running on the CareView HUB quickly.
“Insurer payments are only part of today’s healthcare revenue cycle. In a world of copays and rising deductibles, nearly every healthcare encounter now requires some type of patient payment. That’s why BillingTree’s CareView solutions are designed to ensure that you receive your fair share in a process that’s quick, effective and convenient – for you AND your patients,” asserts its CEO.
Outshining Peers with Innovation at its Heart
With its focus on cutting-edge comparatively priced payment solutions and technology, BillingTree offers convenience, high service levels, risk mitigation, and compliance above and beyond its peers. Unlike other payment problem solvers, the company offers innovative in-house developed CareView, Payrazr gateway solution, and multiple other fintech solutions in the product suite.
It is dedicated to creating the least resistant payment pathway for the patients. The company has helped in maximizing settlements by allowing clients to move freely between several channels and payment methods, making the whole process more convenient for them. In addition, BillingTree’s customers can maximize the timely collection of balances by using their end-to-end suite of payment options and solutions.
Catalyst to the Growth of BillingTree
Edgars “Edz” Sturans is the CEO of BillingTree, joining in 2014. Prior to BillingTree, he served as a VP of Global Product Services at FICO®, which acquired CR Software. Under Edz’s guidance, the company has experienced significant growth, welcoming new clients and expanding its payment offerings across the ARM, Auto Finance, Student Loan Rehab, Credit Union, and Healthcare industries.
Accolades and Recognitions
Three years back, BillingTree began surveying the healthcare industry on payment technology challenges, trends, and opportunities for revenue cycle management professionals in its annual industry study. It has now become a benchmark for the changes in the industry, a copy of the recent survey results is available at https://mybillingtree.com/collateral/2017-collections-operations-and-technology-survey-report/. BillingTree was also included in the Beckers Hospital Review’s 160 healthcare revenue cycle companies to know 2017. The company has also been accredited with ‘A+’ rating by the highly reputed Better Business Bureau (BBB). It strongly complies to PCI-DSS 3.2, HIPAA (ePHI).
BillingTree is all set to continue its growth trajectory with the CareView integration solidified within their growing product portfolio to focus on the healthcare payment needs. The company expects to process more than $4.00 billion in payments in the U.S. this year.