New service gives providers transparent,
secure payment processing that makes it easy for patients to settle
co-pays and account balances with their preferred payment
method
AUSTIN,
Texas, Oct. 16, 2024 /PRNewswire/ -- To ease
patient settlement and payment reconciliation, Oracle today
announced Oracle Health Payments. With the end-to-end payment
solution, including gateway routing, processing, and acquiring
under a single agreement, healthcare facilities can help reduce
costly, unexpected service fees. It also makes it easier for
patients to cover a copay, elective surgery, or an existing bill
using a variety of payment options including, traditional chip and
pin pay methods, or simply tapping to pay with the latest digital
options including Apple Pay, Google Pay, and Samsung Pay.
Payment processing costs can vary widely between payment
providers, card brands, or payment types. Compliance and service
fees can also make it difficult for healthcare facilities to
estimate and factor these costs into their financial planning.
Built on Oracle Cloud Infrastructure (OCI), Oracle Health Payments
offers a payment card industry (PCI)-compliant, fixed-rate pricing
model with no additional service or convenience fees. Integrated
with Oracle's point-of-sale hardware and Oracle Health Patient
Accounting, Oracle Health Payments uses end-to-end encryption and
tokenization, empowering health systems to securely capture
payments and automate revenue posting, which helps reduce
fraud and collection costs.
"Healthcare providers are looking to minimize unnecessary
expenses and enhance security and efficiency in all aspects of
their business," said Seema Verma,
executive vice president and general manager, Oracle Health and
Life Sciences. "One of the great benefits of Oracle's unmatched
industry experience and technology is our ability to apply proven
solutions, like payments, across industries to solve these complex
problems. With our comprehensive Oracle Health Payment solution, we
are taking the hassle, time, and extra costs out of payment
processing so healthcare facilities can provide enhanced service to
their patients while improving how they capture and track patient
payments."
Aligned with PCI regulations, Oracle Health Payments enables
healthcare facilities to anticipate exactly how much they will pay
for every transaction and avoid long-term contract commitments.
With out-of-the-box transaction and payout reporting, health
systems can also more accurately track profitability.
Oracle's Payment Cloud Service technology has been hardened in
the most demanding, high-volume consumer industries, including
retail, hospitality, stadiums, and restaurants. The service can be
rolled out quickly and cost effectively, helping speed time to
value. To learn more, visit: https://www.oracle.com/health/.
Learn more at the Oracle Health Summit in Nashville on Oct.
28-30, 2024. The event brings together global healthcare
leaders to discuss how to tackle industrywide challenges and apply
new innovations.
The acquiring and payment processing services that are part
of Oracle Health Payments are delivered by a third-party financial
services provider.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL),
please visit us at www.oracle.com.
Trademarks
Oracle, Java, MySQL and NetSuite are
registered trademarks of Oracle Corporation. NetSuite was the first
cloud company—ushering in the new era of cloud
computing.
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SOURCE Oracle