CORAL SPRINGS, Fla., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Liquid Payments, a leading provider of innovative healthcare payments technologies, is thrilled to announce a game-changing advancement for the healthcare payments industry with the introduction of its compliant surcharging solution. The new integration of compliant surcharging into the Liquid Payments all-in-one patient payments platform enables healthcare providers to significantly reduce the costs associated with card acceptance and maintain financial stability while adhering to rigorous regulatory requirements.
This latest enhancement sets Liquid Payments apart in the industry as being the sole third-party payments provider seamlessly merging compliant surcharging with RPA (robotics processing automation) integration into any underlying EMR/PM systems, providing medical and dental practices with an optimal pathway to offset their credit card processing fees.
"The introduction of compliant surcharging in the Liquid Payments' platform is a significant step forward in our mission to empower healthcare providers. We recognize the financial challenges they face and the need to reduce costs while maintaining the highest standards of transparency. We're proud to be at the forefront of this evolution in healthcare payments," says Shashi Kapur, CEO of Liquid Payments.
Liquid’s compliant surcharging offering is designed to augment the healthcare payments landscape, initially catering to in-office (card-present) payments, which represent the lion share of transactions for many practices. By targeting these point-of-sale (POS) credit card payments, it allows practices to pass on transaction processing fees to patients, effectively reducing the overall costs associated with card acceptance.
Key Features of Liquid Payments’ Compliant Surcharging:
- Transparent and Ethical - Allows practices to implement the pass through of card processing fees in a transparent and ethical manner, providing consumers with a clear understanding of the costs associated with their transactions.
- Integrated and Automated - Through Robotic Process Automation (RPA), Liquid Payments integrates with all current practice management systems, enabling automated payment postings, now inclusive of its surcharging capability.
- Regulatory Compliance - The new surcharging technology is designed to meet the highest standards of regulatory compliances, ensuring it is a trustworthy and secure option for businesses across various healthcare verticals.
- Reporting - Practices are provided with real-time, robust reports around surcharging, with a detailed breakdown and delineation of charges, including any applicable surcharged amounts. This level of detail not only supports compliance requirements, but also enables clear visibility into surcharged transaction details.
- Enhanced Financial Control – Liquid Payments' surcharging solution empowers healthcare providers with enhanced control over their financial operations, allowing them to optimize revenue streams while maintaining patient satisfaction.
The integration of compliant surcharging in Liquid Payments’ platform reaffirms the Company's commitment to advancing healthcare payments. This milestone heralds a new era of cost containment, transparency, and seamless billing practices in the healthcare industry.
About Liquid Payments, Inc.
Based in Fort Lauderdale, Liquid Payments, Inc. (LQ), is a financial technology innovator applying the latest payments technologies to the medical, dental, and veterinary space. LQ has solutions deployed in multiple healthcare payments sectors including healthcare cost-sharing entities and healthcare practices and is currently advancing emerging applications of AI (Artificial Intelligence) in the industry. For more information visit http://www.Liquid-Payments.com.
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