TransEngen® Announces Partnership with Oklahoma Hospital Association
December 3, 2012
TransEngen®, Inc a leading provider of transaction processing solutions for healthcare, announced it has entered a partnership with the Oklahoma Hospital Association (OHA) to provide its patient payment solution to more than 130 hospitals affiliated with the OHA.
Under the agreement, TransEngen will offer all OHA member institutions preferred pricing for its Revenue Maximizer suite of patient payment solutions. TransEngen, which deploys its Revenue Maximizer solution to more than 35,000 providers nationwide offers a HIPAA compliant, PCI certified payment tool that instantly estimates what a patient owes at check in, accepts all forms of payment and even integrates with leading hospital management systems allowing for efficient and secure auto posting of patient payments. The agreement is timely, as many patients will have their deductibles reset at the beginning of the year, thus paying a larger portion of their medical bills during this period.
“We have been looking for solutions that help our hospitals accelerate patient payments, decrease the number of patient statements, and reduce bad debt. We are excited about our partnership with TransEngen because it addresses all these issues and gets our members paid faster,” said J. Shelby Faust, Executive Vice President, OHA.
As high-deductible health plans have grown so too has the amount of money most providers receive from patients. According the Medical Group Management Association (MGMA), the typical medical facility now collects about 25% of their overall revenues from patients. As that number has increased it has become more important for providers to collect payment from patients during the visit instead of billing the patient post insurance adjudication, which oftentimes leads to high levels of debt and write offs.
TransEngen® is the nation’s leading provider of healthcare technology solutions designed to help physicians collect money from patients. TransEngen delivers an intelligent transaction-based engine that simplifies the patient payment process allowing healthcare providers to efficiently assess patient financial responsibility at the point of care. For further information, visit www.TransEngen.com
Oklahoma Hospital Association
Established in 1919, the Oklahoma Hospital Association represents more than 130 hospitals and health care entities across the state of Oklahoma. OHA's primary objective is to promote the welfare of the public by leading and assisting its members in the provision of better health care and services for all people.
We are not a billing company.