|By Business Wire||
|January 13, 2011 09:03 AM EST||
TSYS Merchant Solutions announced today that First Paid Healthcare Solutions, its suite of payment services that helps healthcare providers more efficiently collect patient payments, is now available in the Puerto Rican market. With the assistance of Puerto Rico-based Paytech Corporation, TSYS Merchant Solutions is actively marketing First Paid to doctors, clinics and other healthcare providers in the territory.
First Paid is a specialized web-based solution that helps cut costs, streamline the payment process, clearly outline patient expenses and eliminate paper.
First Paid also leverages a real-time calculator that determines what a patient owes for healthcare services at the time of treatment. The software confirms patients’ coverage and benefits, determines out-of-pocket status, calculates charges based on contracted rates with insurance providers, and produces an easy-to-read estimate of the patient’s financial responsibility for the visit. Patients can then pay for services in full with a credit card, debit card or check, or set up an installment payment plan on the spot. The suite of services integrates with TSYS Merchant Solutions’ processing platform to handle payment acquiring, routing and settlement.
“First Paid is the first product in Puerto Rico that allows healthcare providers to efficiently collect patients’ out-of-pocket expenses,” said Candido Alfonso, chief executive officer & president of Paytech. “In our market, the medical industry has focused on electronically billing insurance plans, but First Paid is solely focused on helping healthcare providers collect the expenses not covered by insurance.”
“Streamlining the collections process saves both time and money for healthcare providers,” said Diana Mehochko, president of TSYS Merchant Solutions. “And by making the entire process more efficient and easier for patients to understand, providers can maintain focus on providing quality healthcare instead of addressing patients’ payment concerns.”
TSYS Merchant Solutions is a long-time provider of processing services to healthcare providers. Today, more than 7,000 practices rely on TSYS Merchant Solutions to efficiently and economically accept card-based patient payments.
About Paytech Corporation
Paytech Corp. has been a real-time e-commerce processor and gateway since 1997 and was founded with the vision of providing a one-stop shop for electronic transactions. The company provides services to merchants, healthcare providers, financial institutions, government institutions and non-profit organizations of all sizes. For more information, visit www.paytechco.com.
About TSYS Merchant Solutions
TSYS Merchant Solutions, LLC, formerly First National Merchant Solutions, LLC, is a top 10 payment processor providing unmatched service and solutions to businesses across North America. For more than 50 years, customers have relied on our expertise and dedication to meet their long-term business and processing needs.
For more information, visit www.fnms.com.
TSYS (NYSE: TSS) is reshaping a new era in digital commerce, connecting consumers, merchants, financial institutions, businesses and governments. Through unmatched customer service and industry insight, TSYS creates a better experience for buyers and sellers globally, supporting cross-border payments in more than 85 countries. Offering services in credit, debit, prepaid, mobile, chip, healthcare, installments, money transfer and more, TSYS makes it possible for those in the global marketplace to conduct safe and secure payment transactions with trust and convenience.
TSYS’ global headquarters are located in Columbus, Georgia, with other local offices spread across the Americas, EMEA and Asia-Pacific. TSYS serves approximately 400 clients in 85 countries, including relationships with more than half of the Top 20 international banks. For more information, please visit us at www.tsys.com.
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