PayGround Expands into Digital Health Markets
PayGround can now serve as a payment API (application programming interface) to enable secure ecommerce across a wide range of healthcare-related businesses. These secure transactions are empowered by the company’s iFrame.
PayGround’s iFrame technology allows any healthcare provider to seamlessly present their patients’ outstanding balances and collect payments using PayGround. The iFrame can be embedded directly into the provider’s workflow and delivers a robust solution in processing credit card and ACH transactions without compromising security and user experience.
Safe and secure payment integration in the complex healthcare segment has been difficult to achieve, but substantial growth in the digital health market in the last three years has led to new solutions as investors discover the value of healthtech. In fact, the first half of 2020 saw a record $5.4 billion in venture funding as well as advances in virtual care delivery like telehealth and remote monitoring.
With a partner like PayGround who understands these complexities and relationships, payments can easily be integrated back into the billing system via the iFrame solution while protecting patient health and identifiable information.
“PayGround can now serve the ever-growing digital health space,” says PayGround Director of Product Stephanie Hanson. “We’ve seen throughout the COVID-19 pandemic, healthcare delivery has moved considerably virtual. Telehealth, wearable health tech, personalized medicine and mobile health are here to stay — and all need a healthcare-specific payment partner.”
Integrating PayGround with an EHR/PM system enables providers’ offices to accept payment at the point of care and immediately and automatically post the payment to the patient’s account — a process that is typically a manual one.
In addition, patients can pay through the PayGround website or mobile app. Because payments are automatically posted and tracked at the encounter level, medical providers save staff time — up to three full days per month — that was previously spent manually managing and posting payments.
Connecting to PayGround offers easy access to a robust payment solution that can be embedded within a company’s platform with minimal effort. PayGround can accelerate an organization’s time to market with the partners it currently supports, and potentially expand its offerings with billing solutions it’s not yet integrated with.
“We know for PayGround to become the digital wallet for healthcare, our solution must be omnichannel to reach consumers at scale,” says PayGround CEO Drew Mercer. “That’s why we’re excited to bring the power of PayGround’s platform beyond the ambulatory and acute provider markets, to now be the embedded payment solution for any organization delivering patient care.”