The landscape of healthcare is changing. We live in a time of vast movement, where innovation in healthcare technology is changing the way we approach medicine. Telemedicine is one such innovation – a digital patient management system revolutionizing the doctor-to-patient interaction. A telemedicine EHR creates a system where patients are able to seek consultation from the comfort of their homes, as opposed to spending time in a waiting room to see the doctor.
New avenues of healthcare technology such as telemedicine require an experienced and innovation-driven infrastructure that can properly handle the new workflow. One of our providers, Upstate Concierge Medicine, needed a financial solution that could enable its telemedicine platform. They needed a way to create a monthly medical payment system that would allow patients to see doctors without an in person appointment. As their electronic health record (EHR) solution, we partnered with Upstate’s financial partner Integrity Payment Systems, an innovative financial solutions company, to achieve Upstate’s goals.
The Situation, Innovating the Medical Payment System
When we look at the way billing is managed in healthcare now, we see the majority of it being fee-for-service. A patient visits a provider for care, and they are billed for each specific treatment during the visit. This fee-for-service type structure has been a staple in healthcare, and though it has its benefits, it did not work for Upstate Concierge.
Upstate Medicine Concierge created a healthcare platform based on telemedicine to provide care to its patients. They provide on-call telemedicine to workers at 90 companies in the Albany area and the Northeast. Telemedicine doesn’t just help manage patient load. By providing an electronic way to provide patient care, it reduces the frequency of in-house encounters, therefore saving time and costs. Less in-house patient encounters equate to reduced costs for everyone.
“The value proposition for [telemedicine] is the ability to expand their geographic reach, take on more lives, treat patients simply and affordably through telemedicine, but when things are more complex, you can filter them back into your hospital system,” Upstate Concierge Medicine CEO Keith Algozzine said. “There’s also the cost savings to treating people where they are rather than at a hospital.”
The telemedicine platform of Upstate Concierge required a monthly recurring payment system which enabled patients to see doctors on hand from the comfort of home, versus going in for an appointment. At the time, Upstate did not have a method of recurring payments through Integrity, to facilitate the telemedicine platform.
Collaboration with Integrity Payment Systems, Innovative Financial Provider
After much consultation, Bizmatics partnered with Integrity to enable Upstate’s telemedicine capabilities. Integrity is a financial solutions provider that creates secure payment gateways for its clients, and created a way for Bizmatics to provide a payment solution for Upstate.
“Integrity is able to extend services for PrognoCIS’ providers beyond application integration, and into being a real business solution,” said Vinay Deshpande, Co-founder and CEO of Bizmatics. “This comprehensive payment solution of Integrity’s enables us to extend PrognoCIS to new business models such as subscription payment plans for a telemedicine provider network. In some of our practice management situations, Integrity is the only payment technology solution to satisfy the provider’s needs.”
Integrity enabled Upstate to accept monthly credit card payments from patients, directly through Upstate’s website. The information is then stored with Integrity, allowing for a secure system of financial transaction.
The partnership with Integrity creates a system where Upstate can provide its telemedicine capabilities without having to rely on the old fee-for-service system.
Further Spurring Innovation in Healthcare
As healthcare continues to change and grow, it is important to stay at the forefront of innovation. By working with partners that share our vision and goals, we are able to provide better care to a wider audience.
Upstate’s telemedicine platform is at the forefront of revolutionizing the doctor-to-patient interaction. They are able to provide care in a fresh and exciting way, unseen by the industry the past. With telemedicine, they are able to reduce the frequency of in-house patient encounters, while maximizing care to a larger target audience.
By working with a financial solution like Integrity, that is willing to take on the task of telemedicine, we are pushing the boundaries of patient management for ourselves and our providers. Integrity’s ability to adapt to providers who provide cutting edge healthcare technology showcases their ability as an innovation-driven company. We are eager to keep collaborating with them as a financial partner in the years ahead.
Providing the best care at the best cost is perhaps the chief goal at Bizmatics. Our work with Upstate Concierge and Integrity is but a step forwards toward a better healthcare system in the US.
About Integrity Payment Systems
Payment Technology. Business Solutions. Delivered with Integrity.
Integrity is a full service payment solutions provider with merchant customers in all 50 states leveraging a suite of products and services including EMV technologies, terminals, POS integrations, and secure payment gateways. Integrity is headquartered in Des Plaines, IL. Learn more at integritypays.com.
About Upstate Concierge Medicine
Upstate Concierge Medicine is the premier provider of concierge telemedicine services. As just the 5th healthcare organization to be accredited for online patient consultations by the American Telemedicine Association, UCM connects local doctors to local patients 24/7/365 using every day technology such as phone, text, video and email. UCM can diagnose, prescribe medications, order labs/x-rays and even refer to local pcp’s and specialists. Their business to business solutions allow healthcare organizations/practices, businesses, and colleges health centers to leverage their providers, technology and expertise to provide telemedicine services under their brand. UCM works with healthcare organizations to expand their geographic reach, increase revenue and decrease costs all while providing high-quality affordable care to their patients. https://www.upstatevipmedicine.com/telemedicine-for-healthsystems-practices-providers/
About Bizmatics Inc.
Bizmatics, Inc. Electronic Healthcare Solutions. More than a Great EHR.
Bizmatics Inc. is the developer of PrognoCIS Electronic Health Record (EHR) software, billing, and practice management services. PrognoCIS is more than just an EHR. Bizmatics is headquartered in San Jose, CA. Learn more at: http://prognocis.com
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