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mPay Gateway Customers Reduce Patient Collection Costs
Practices Dramatically Reduce Need to Send Multiple Statements Though Use of mPay Gateway's Powerful Patient Payment Software
Minneapolis (December 16, 2010) — mPayTM Gateway today announced that several Minneapolis-area healthcare practices have successfully reduced their collection costs using mPay Gateway's point-of-care payment system. mPay Gateway's software eliminates the need for practices to send expensive patient statements to collect patient-responsible monies.
"Using mPay Gateway has allowed us to fundamentally change our billing practices," said Corrina Truedson, office manager of Bodyworks Physical Therapy in Edina, Minn. "Now sending a patient a statement weeks after the visit is the exception, rather than the rule."
"We're excited at the success these practices have had and how their patients are embracing the transparency we provide," said Brian Beutner, chief executive officer of mPay Gateway. "Currently, patient payments are the fastest growing portion of a providers' revenue stream, but with the lowest collection rate; our technology is addressing this growing patient payment problem"
Since implementing the mPay Gateway software in its urgent care clinic, Blaine, Minn.- based Express HealthCare has reduced the cost of patient collections and increased their collection rates. "We have reduced the number of statements we must create and
send from well over 1,000 each month to a few hundred," said Brigid Hartmann, business office manager of Express HealthCare. "As a small, independent practice, the savings are significant."
Twin Cities Pain Clinic expects to increase its use of the mPay Gateway software, based on the product's positive financial impact. "With patients' deductibles resetting in January, we are expanding the use of mPay Gateway to see further reduction in our statement costs," said Christa Olive, clinic administrator at the Edina, Minn. practice. "Patient acceptance of our new process has been over 93%."
mPay Gateway simplifies the administrative side of patient encounters by providing practices easy-to-use tools that address patient payment obligations at the time of service. mPay Gateway's point-of-care patient payment software calculates the patient responsible amount, authorizes payment at the time of service, and automatically collects the outstanding patient obligation after the insurer has settled the claim.
About mPay Gateway, Inc.
mPay Gateway develops financial technology products and services to support health care's complex and unique payment environment. mPay Gateway empowers health care providers with a single-source payment solution that enables collections from patients regardless of the patient's third party payer affiliation. mPay Gateway is a PCI certified acquiring card processor. For more information, visit www.mpaygateway.com.