MINNEAPOLIS, July 18, 2017 (GLOBE NEWSWIRE) -- ABILITY® Network today announced its acquisition of Secure Bill Pay, a leader in the fast-growing healthcare payment software market. Secure Bill Pay provides an all-in-one set of tools to enable providers to facilitate patient payment throughout the revenue cycle.
The significant increase of high-deductible health plans means patients are responsible for a larger proportion of their payment for healthcare services. Providers must increasingly focus on improving their ability to capture patient payments to avoid lost revenue or onerous collections and write-offs, while improving accounts receivable. At the same time, they need to ensure they are providing capabilities that meet patient payment preferences, such as mobile and online bill pay, and payment plans.
“Secure Bill Pay’s healthcare payment applications together with ABILITY’s existing revenue cycle management applications create a comprehensive offering,” said Mark A. Pulido, chairman and CEO of ABILITY. “In bringing together Secure Bill Pay’s healthcare payment tools and ABILITY’s all-payer eligibility and claims capabilities, we will be able to provide customers with an end-to-end suite of revenue cycle management applications.”
Similar to ABILITY, Secure Bill Pay provides software to providers of all sizes and all sites across the continuum of care, including acute, post-acute and ambulatory. Secure Bill Pay offers applications that allow providers to accept and manage 100% of patient payments in one platform, helping them get paid more efficiently with a comprehensive suite of management and reporting capabilities. Their offerings include:
- Online Bill Pay applications that provide custom branded and customized 24-hour access for patients to make payments via computer or mobile device, with an option to request a payment plan or set up a card on file for future use.
- Point of Service applications to capture one-time payments, establish automated recurring payments, or process any type of transaction, including credit/debit and HSAs, eCheck, check scanning or cash. The application can also integrate with registration and patient responsibility estimate data.
- A back office application, to collect, manage, reconcile and post transactions, including electronic refunds.
Secure Bill Pay applications also seamlessly integrate with electronic medical record, practice management, and patient portal systems – including some of the largest, most well-known players in the market – enabling uninterrupted workflow across systems and reduced complexity for customers.
“As we continue to advance our mission of helping providers simplify the administrative and clinical complexities of healthcare, Secure Bill Pay is a perfect fit for ABILITY,” said Pulido. “Their offerings and business model complement ABILITY’s applications and go-to-market capabilities, and together we will accelerate development of advanced applications to solve our customers’ toughest challenges in capturing payment from patients.”
ABILITY provides applications and analytics that are integral in helping with revenue cycle management, clinical management and performance improvement via a powerful, integrated, cloud-based SaaS platform.
“The strength and reach of ABILITY’s customer-facing organization and the company’s commitment to helping means we will be able to reach even more providers with a more complete set of applications,” said Karen Hauer, co-founder, president & CEO of Secure Bill Pay. “With deep healthcare and technology expertise, both organizations are focused on simplifying complexity. We are so excited to join the ABILITY team.”
Secure Bill Pay is based in Eagan, MN. All of the company’s employees will join ABILITY. Terms of the transaction were not disclosed.
About ABILITY® Network
ABILITY Network is a leading information technology company helping providers and payers simplify the administrative and clinical complexities of healthcare through innovative applications and data analytics. ABILITY is headquartered in Minneapolis with principal offices in Boston and Tampa.
Media Contact ABILITY Network Jennifer Marso Phone: 612.277.3953 Email: Jennifer.firstname.lastname@example.org
Source:ABILITY Network Inc