SwervePay, LLC, an innovative patient-centric payment solution in healthcare, declared its acquisition of StatPayMD to further offer healthcare customers with the data, tools and transparency required to handle their financial responsibility.
StatPayMD (formerly Symbiosis Health) is a graduate ofBlueprint Health, a healthcare IT accelerator in the city of New York, and most recently deployed at MATTER in the state of Chicago. StatPayMD makes it easy for sufferers to understand “out-of-pocket” costs before and at care. With SwervePay’s payment tool, sufferers can better interact around cost of care, understand payment options, and pay their bill on the go and in a path that is convenient for them. SwervePay gives an innovative suite of devices for making patient payments – no mobile apps, no paper, merely one-click payments through text message. The portal-free platform also alleviates manual tasks in the revenue cycle process for contributors and health systems.
The majority of negative reviews for healthcare contributors often stems from surprises in one’s medical bills, not due to bad patient care. Even though 92% of insured users are both able and willing to pay their out-of-pocket medical expenses, 15 cents of every dollar is lost on claims processing, payments, billing and revenue cycle management, totaling an approximate of $300 billion loss for the healthcare industry each year (McKinsey). To solve this issue, educating sufferers about their insurance policies and giving convenient payment choices requires to be an integral part of the patient experience.
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