Information technology company ABILITY Network provides healthcare data analytics, revenue management and other technical services, but with a new takeover the company is entering the payments space.
ABILITY announced Tuesday (July 18) that it reached a deal to acquire Secure Bill Pay, a software provider that enables healthcare providers to facilitate patient payment. According to ABILITY, patients today are now responsible for greater portions of their healthcare bills. Secure Bill Pay enables providers to streamline those payments and capture critical information for accounts receivables management and to reduce lost revenue, write-offs and onerous collections.
“Secure Bill Pay’s healthcare payment applications together with ABILITY’s existing revenue cycle management applications create a comprehensive offering,” said ABILITY Chairman and CEO Mark A. Pulido in a statement. “In bringing together Secure Bill Pay’s healthcare payment tools and ABILITY’s all-payer eligibility and claims capabilities, we will be able to provide customers with an end-to-end suite of revenue cycle management applications.
According to ABILITY, Secure Bill Pay complements its existing offering because both companies provide software to healthcare providers of various sizes and niches of care.
In addition to its payments offering, Secure Bill Pay also provides a platform on which healthcare companies can manage and accept those payments and facilitate reporting. The software supports online and mobile payments, point-of-service applications for one-time payments, recurring payment capabilities and back-office solutions like electronic refunds for cash and payment management.
“As we continue to advance our mission of helping providers simplify the administrative and clinical complexities of healthcare, Secure Bill Pay is a perfect fit for ABILITY,” Pulido added. “Their offerings and business model complement ABILITY’s applications and go-to-market capabilities, and together we will accelerate development of advanced applications to solve our customers’ toughest challenges in capturing payment from patients.”
“The strength and reach of ABILITY’s customer-facing organization and the company’s commitment to helping means we will be able to reach even more providers with a more complete set of applications,” added Secure Bill Pay cofounder, President and CEO Karen Hauer. “With deep healthcare and technology expertise, both organizations are focused on simplifying complexity.”
The financial details of the acquisition were not disclosed by the companies. ABILITY said all Secure Bill Pay employees will join the ABILITY team.
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