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Preferred Health Technology and Visa Inc. Team Up on Comprehensive Point-of-Service Medical Payments Solution
Date:3/5/2009

tion of patient responsibility on a pre-agreed payment schedule.

"The business of health care is becoming increasingly complex. Today, providers need solutions to speed their accounts receivable collection, reduce administrative costs, and improve their cash flow management," said Mary Dees Griffith, president and COO of PHT.

"We believe the functionality of A-Claim and PHT's alliance with Visa will create greater efficiencies and cost savings for many providers, and increased convenience for their patients. The reach, reliability, security and flexibility of Visa's transaction-processing platform, coupled with the breadth and popularity of Visa's payment products, were key factors in our decision to choose Visa as the preferred payment brand for A-Claim."

With the shift from managed care programs to consumer-directed health care and high-deductible health plans, more patients are becoming responsible for paying a larger portion of their overall health care costs. With rising co-payment and deductible amounts, health care providers are faced with the challenge of collecting all -- or a higher percentage of -- patients' receivables after the patient has left the provider's office.

"With health care providers collecting only an estimated 50 percent of patient receivables each year, incorporating a system like A-Claim, along with a pre-authorized payment process, can make a significant impact on their business and improve their bottom line," said Stacy Pourfallah, senior business leader, health care products, Visa Inc.

"In turn, patients enjoy the confidence that only the actual amount owed will be processed to their Visa payment card once the claim is finalized. This approach also helps consumers better manage their health care spending by using the payment method of their choice."

About PHT

Preferred Health Technology Inc., headquartered in Carro
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SOURCE Preferred Health Technology Inc.
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