Canopy Financial Announces New Healthcare Bill Payment Solution.CHICAGO -- Canopy Financial, a leading provider of financial technologies that power consumer-driven healthcare products and services for health insurers and financial institutions, today introduced HealthDirect Bill Pay(SM), an online bill payment gateway that provides consumers with online bill pay functionality. HealthDirect Bill Pay(SM) integrates with the account management tools offered by payers and third party administrators to facilitate all provider and merchant remittance, both electronic and paper-based payments. "An increasing number of bill payments to hospitals, merchants, and other medical providers are being initiated by consumers from their health savings and other consumer-driven healthcare accounts," said Vik Kashyap, Chairman and Founder of Canopy Financial. "HealthDirect Bill Pay(SM) satisfies the need for a bill payment platform that can be seamlessly integrated with the HSA HSA Health Savings Account (US) HSA Human Serum Albumin HSA Human Services Agency (Nevada) HSA Health Services Agency HSA Health and Safety Authority (Ireland) , HRA HRA Health Reimbursement Arrangement HRA Health Risk Assessment HRA Housing and Redevelopment Authority HRA Human Resources Administration HRA Health Reimbursement Account HRA Housing Revenue Account , and FSA FSA Financial Services Authority FSA Food Standards Agency (UK) FSA Farm Service Agency (USDA) FSA Financial Services Agency (Japan) administration solutions of payers and administrators." With HealthDirect Bill Pay(SM), consumers may: --Store an unlimited number of payees for future payment reference --Classify payments by expense type and create custom expense types for reporting --Set recurring payments for regularly scheduled expenses --Schedule payments for any date in the future --Identify payments for services belonging to the insured or the insured's dependents --Search the payee The person who is to receive the stated amount of money on a check, bill, or note. payee n. the one named on a check or promissory note to receive payment. PAYEE. The person in whose favor a bill of exchange is made payable. database to find an existing medical provider or merchant --Input short or long descriptions for future ledger reference --View estimated payment clearance times (based on paper or electronic remittance) --Mark the date the medical service was rendered for expense tracking Clients using HealthDirect Bill Pay(SM) improve the adoption of electronic remittance among providers and merchants resulting in shorter payment periods, a reduction in collection time for provider receivables, and a significant decrease in transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. expenses. HealthDirect Bill Pay(SM) is a standard component of HealthDirect(SM), Canopy's online Health Savings Account A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal income tax at the time of deposit. (HSA) and Health Expense Account (HEA HEA Higher Education Academy (York, UK) HEA Higher Education Act of 1965 HEA Higher Education Authority HEA Health Education Authority HEA High Energy Astrophysics HEA Happily Ever After HEA Hockey East Association ) administration platform. About Canopy Financial Canopy Financial provides innovative technology solutions that address the convergence of healthcare and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . Serving a diverse range of healthcare, financial services, and technology clients, Canopy empowers the development and delivery of branded, best-in-class consumer-driven healthcare products and services through its market-leading offerings, including HealthDirect(SM), HealthDirect Investments(SM), HealthDirect Bill Pay(SM), CardLink(SM), HSA Marketplace(SM), and HealthScore(SM). Canopy syndicates its Health Savings Account thought leadership and domain expertise through its portal HSA Insider (www.hsainsider.com), a leading online resource regarding Health Savings Accounts. Canopy maintains offices in Chicago and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . For more information, please visit our web site at www.canopyfi.com or call 1-866-960-4700. |
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