Repay and VBA partner for B2B healthcare payment offerings
With the pandemic raging, the healthcare sector came into focus which also meant the sector showed some shortcomings, one of which included streamlining of payments.
This week, Repay, the Atlanta-based B2B payments processing company has teamed up with Virtual Benefits Administrator (VBA) to link their technology offerings.
According to the press release, “the two-way integration between the platforms will enable insurance companies to pay healthcare providers, including licensed healthcare facilities, programs, agencies, and doctors, for services rendered directly from the VBA system”. This would make it easier for administrators to collect premiums or other expenses incurred by members and automatically update on VBA.
“Several technologies and innovations have come to market, helping to streamline payment processes across the banking and financial industry. Healthcare is in a unique position and primed to follow suit,” said Darin Horrocks, Senior Vice President, B2B, at repay.
VBA’s VP, Jessica Lockhart said, “Repay payment technology is an important enhancement for VBASoftware that will provide more visibility into the payment and disbursement process between payers and providers,” and also added that, “Clients with this enhancement will enjoy increased efficiency thanks to the elimination of lengthy multi-step legacy processes and improved payer-provider relationships.”
Repay’s platform also provides Third Party Administrators (TPAs) for visibility into claims payments.