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P-Card Payments and Healthcare Companies: Current Payment Systems Inhibit Growth from Bora Payments

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P-card Payments and Healthcare Companies Current Payment Systems Inhibit Growth

Problem:The Patient Protection and Affordable Care Act mandate that all medical payments must be electronic by Jan 1, 2014. Currently according to the US Healthcare Efficiency Index only 10% of the 2.3 trillion dollars spent on Healthcare are paid electronically. Clearly many firms making healthcare payments would prefer to use P-cards instead of ACH or wire because they would receive a revenue rebate and float on the payments. However P-card payment growth in healthcare is being inhibited by payment processing systems that do not meet healthcare companies' needs.

Healthcare Companies Requirements for P-card Processing Systems:

1. Simplify Accounts Payable Reconciliation – Current manual and pull payment systems require the provider to submit the P-card payment, if the supplier does not promptly submit the payments there are open items that make reconciliation difficult. A buyer initiated payment systems eliminates this problem and simplifies reconciliation.

2. Multiple Invoice Processing – Healthcare companies make one payment for multiple procedures or multiple SKUs. A system must be able to package multiple invoices in one payment. This may reduce transaction fees and it simplifies reconciliation. 

3. Intuitive Interface with Customizable Fields – The system has to be easy to use and it should use the company's terminology (department, explanation of benefits etc.). 

4. Process Level 2 and Level 3 Data – The system should have the flexibility to process level 2 and level 3 data in order to allow suppliers to qualify for cheaper transaction rates.  

5. Eliminate Card Fraud and Declines –A system must eliminate card fraud by making it almost impossible for an employee of the payer or the provider to steal a card number. In addition when a payer processes thousands of transactions in a batch the company must eliminate the possibility of having massive declines due to an insufficient balance on the card. 

Bora Payments Systemsis the only real-time buyer initiated payment system that meets all of the requirements. For more information please call Norm Rosenstein at 510-803-3003 Ext. 706 or e-mail him at

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