FORT LAUDERDALE, Fla., Aug. 29, 2018 (GLOBE NEWSWIRE) -- Liquid Payments, Inc., a financial technology innovator in the medical payments space, announces integration with Heartland Payment Systems (HPS), a Global Payments Company and leading worldwide provider of payments technology and software solutions. Designed for healthcare providers and medical billing agents, the Liquid Payments hybrid solution combines traditional point-of-sale payment terminals with an e-commerce platform, enabling faster and easier collection of patient payments, especially those hard-to-collect, post-insurance adjudication balances owed.
“Implementing the Liquid Payments solution is one of the smartest things we’ve done for our practice,” said Sandra Agel, practice manager at First Rehabilitation of North Palm Beach. “The platform is extremely easy to use. It’s helped us get a better handle on patient payments, significantly improving our revenue and collections. The Liquid team is wonderful to work with, and we’re thrilled to be the beneficiary of this cutting-edge technology.”
“At Liquid Payments, we are guided by the core principles: Simplicity, Clarity and Transparency,” said Liquid Payments CEO, Shashi Kapur. “In doing so, we strive to help connect healthcare providers with their patients through a better payment experience. Integration with an industry leader such as Heartland enables us to expand our solution offering and increase our market reach.”
According to economists from MIT, Northwestern University and the University of Chicago, medical debt in the U.S. is staggering at approximately $75 billion. Given the rise in high-deductible insurance plans, and as patients bear more of the cost of their healthcare, an already difficult collections effort has become even more challenging for healthcare providers. Traditional provider-payment processes offer no real remedy and are riddled with frustration, such as time-consuming and costly paper statement processes, operational inefficiencies, confusion and inconvenient payment options for patients.
Liquid Payments offers an innovative alternative and specializes in helping healthcare providers take greater control over patient payments by improving services and lowering costs. In the integrated solution, Liquid Payments’ web-based portal drives the point-of-sale terminal, enables payment card capture through tokenization, and processes all payments through Heartland.
The Liquid PCI and HIPAA compliant payment-card capture, along with SMS technology, allows healthcare providers to auto-charge patient balances owed, set up automatic recurring payment plans, send payment links to collect balances due, and more. Patients enjoy simple, convenient payment options and better communication. By digitalizing payments, Liquid Payments also provides efficiencies in remittance to providers, resulting in increased revenue, improved cash flow, reduced costs, as well as decreased write-offs.
About Liquid Payments
Based in Fort Lauderdale, Liquid Payments, Inc. (LQ), is a financial technology innovator in the healthcare space. LQ solutions are deployed in multiple medical payments sectors including healthcare cost-sharing entities and healthcare practices and is currently working on various applications of AI- (Artificial Intelligence) based engagement tools.
To learn more about Liquid Payments, visit www.liquid-payments.com.