Phreesia and Elavon Enter Five-Year Strategic Alliance
Elavon Will Serve as Phreesia's Exclusive Payments Processing Provider, Offering Phreesia's Patient Check-In Solution to Physician Practices Nationwide
NEW YORK and ATLANTA—December 1, 2010—Phreesia today announced that it has entered into a five-year strategic alliance with Elavon, a leading global payments provider. Under the contract, Elavon will act as Phreesia's exclusive payments processing provider, and will offer Phreesia's automated patient check-in solution to healthcare customers across the United States.
Phreesia, currently used by millions of patients in all 50 states, replaces the patient clipboard with an easy-to-use wireless touch-screen device — the PhreesiaPad. This, together with the Phreesia software, collects and updates critical patient information, verifies patient insurance and collects payments automatically during the check-in process. Phreesia also provides screening tools to help clinicians better identify and manage patients with chronic conditions.
"Our alliance with Phreesia during the initial pilot has been a huge success. Not only are our customers able to easily verify patient insurance at check-in, but they can now rely on accurate and timely collections at the point of care—a major and growing industry pain point," said Mike Passilla, president and CEO of Elavon.
Phreesia's collection capability at the point of care, paired with Elavon's robust payments processing infrastructure, is a critical market differentiator. According to the Medical Group Management Association, nearly 25 percent of medical practice revenue today comes directly from patient payments, yet 30 percent of patients make no payment at the time of service.1 Phreesia has demonstrated increased payment collections by more than seven percent in medical practices, and is an effective solution to narrowing the payment gap.
"Phreesia helps provide our healthcare customers—doctors, practice managers, CFOs—with the value and convenience they are looking for," said Tom Boyer, head of business development, Elavon. "Over the past year, Elavon and Phreesia have been working together with hundreds of healthcare customers, and already these practices are experiencing a significant increase in collections."
"Teaming with Elavon makes great, strategic business sense. They are a respected national brand in payment processing services and have an enviable track record in healthcare, with tens of thousands of medical practice customers," said Phreesia CEO and Co-Founder Chaim Indig. "Together, we can come one step closer to realizing the vision of implementing Phreesia in every doctor's office in the United States."
About Elavon (www.elavon.com)
Elavon's Global Acquiring Solutions organization is a wholly owned subsidiary of U.S. Bancorp (NYSE: USB). Elavon provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Canada, Mexico and Puerto Rico. Solutions include credit and debit card processing, electronic check services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring. Elavon's services are marketed through multiple alliance partner channels including financial institutions, trade associations and ISOs. Elavon has solutions to meet the needs of merchants in specialized markets including small business, retail, hospitality/T&E, health care, education and the public sector.
Phreesia is the nationally recognized leader in patient check-in. By automating patient intake, the PhreesiaPad allows medical practices to effortlessly collect patient information, verify insurance and collect payments at the point of care. Phreesia delivers fully interactive content direct to patients, and is designed to interface with clinicians' existing and future technology. Phreesia is committed to enhancing the patient experience and enabling clinicians to stay at the forefront of patient care. For more information visit www.phreesia.com.
Elavon Media Relations