PHILADELPHIA & NEWPORT BEACH, Calif.--(BUSINESS WIRE)--InstaMed, the leading Healthcare Payments Network, announced today that it has launched the InstaMed Healthcare Payments Account, which revolutionizes the way providers get paid from payers and patients. With the InstaMed Healthcare Payments Account, providers of all sizes, from solo physician practices to large hospitals, get paid faster and through more channels to increase payments, reduce bad debt and cut collection costs.
“The InstaMed Healthcare Payments Account is a new concept in the healthcare industry that transforms the flow of money to providers,” said Bill Marvin, President and CEO of InstaMed. “By delivering a simplified approach to the complexities of getting paid in healthcare, we are enabling providers to collect more payments, get paid faster and operate more efficiently.”
About the InstaMed Healthcare Payments Account
Any healthcare provider can register for an InstaMed Healthcare Payments Account free of charge. Once activated, the account enables providers to collect more patient payments by accepting all payment types at every patient interaction point. Additionally, providers can receive Integrated ERA/EFT® (electronic remittance advice/electronic funds transfer) from payers for free. The Integrated ERA/EFT® transaction enables providers to get paid faster and reduce the time to post and reconcile payer payments. With an InstaMed Healthcare Payments Account, providers also collect, post and reconcile every payment in one place and use InstaMed’s robust reporting tools to easily access claim and payment details.
About InstaMed
InstaMed simplifies every healthcare clearinghouse and payment transaction for providers and payers, all in one place. InstaMed enables providers to collect more money, get paid faster and reduce the time and costs to collect. InstaMed allows payers to cut settlement and disbursement costs with electronic payments. InstaMed’s single, integrated network simplifies the healthcare payments process for 400+ hospitals, 60,000+ practices/clinics and 100+ billing services; connects to 3,000+ payers; and integrates with 50+ practice management systems. InstaMed processes tens of billions in healthcare payments each year at a rate of more than $1,000 per second. Visit InstaMed on the web at www.instamed.com.
