MAYFIELD HEIGHTS, Ohio — Noteworthy Medical Systems Inc. has launched an online software application aimed at giving doctors the means to collect from patients what could have become unpaid bills.
The application, called NetPay, is powered by technology from mPay Gateway Inc. of Minneapolis, Minn. NetPay can be plugged into Noteworthy Medical’s practice management software, one of several technologies and services that enables doctors to manage their electronic health records and transactions.
NetPay electronically estimates and collects co-payments, deductibles, co-insurance and non-covered expenses before patients leave the doctors’ offices, according to Noteworthy. This is a growing doctor practice as more patients take responsible for paying at least part of their health care costs. Gone are the days when insurers completely covered the cost of care.
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But doctors are being stuck with an increasing amount of bad debt — $300 billion a year, according to mPay Gateway, a Web-based credit card payment system built exclusively for health care providers. At the same time, doctors’ offices are paying more administrative costs to process bills, claims and payments, and other transactions.
NetPay limits a doctor’s exposure to bad debts and does the back-office payment processing by getting patient authorization — and credit or debit card numbers — during office visits. Doctors automatically get paid through the cards after insurers have figured out how much they will reimburse for care, mPay Gateway says.
“NetPay speeds the patient payment and collection process — saving practices time and money — by actually preventing the overdue and uncollectible patient accounts that are so costly,” said John Wallace, senior vice president for mPay Gateway, in Noteworthy’s release about the product. “We have seen practices cut their patient payment receivables in half using the mPay Gateway product.”
Patients also like NetPay, said Christine Brock, a spokeswoman for Noteworthy Medical. They no longer have to guess at the amount they will pay for a doctor’s visit.
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In April, Noteworthy Medical named a new chief executive — Susan E. Hagerty. Hagerty had been president of CompuGROUP Holding USA, which in February acquired a majority stakein Noteworthy. She replaced Lawrence Dolin, Noteworthy co-founder who was to remain on the company’s board of directors and work as a consultant.
CompuGROUP Holding AG in Koblentz, Germany, is a worldwide leader in electronic health information technology. CompuGROUP entered the U.S. market for electronic health records through its 52-percent stake in Noteworthy. Terms of that investment were not disclosed.