Payments Tailor-Made for Healthcare

Pay Theory focuses on what we call “Must Pay”—industries people must access whether or not they have the money. At the top of the list stands healthcare. We are building payments not for the needs of retail or eCommerce but for the unique challenges of healthcare.

Thinking Differently About Payments

Pay Theory offers three classes of tech wrapped in one solution: Functionality designed specifically for healthcare, hard-to-find features, and standard features you'd expect from a payments company.

Inclusive Payments

Accept card, ACH, and cash! Digital payment solutions have made paying with cash a real problem. We work with what we call “must-pay services” to help remove barriers between families and organizations by providing payments solution built for everyone.

Information Hierarchy

Most payment solutions don’t allow you to see ‘sub-merchants’ information. For example, a hospital could see what each location is doing but they wouldn’t be able to see individual transactions. With Pay Theory, they can.

Contained Systems

Every Pay Theory client is run on a unique isolated environment, causing their payment solution to be unaffected by other systems. Should one system go down, your system is untouched and keeps running smoothly.

Account hierarchy screen

Multiple Bank Accounts

Most payment solutions don’t allow you to associate various bank accounts per client. Now you can, with Pay Theory. This is a huge win for healthcare systems and all complex networks.

Underwriting

Don’t let this be a barrier to offering payments. We work with experts in fields like healthcare, pharmaceuticals, telehealth, and more to ensure that we are able to safely and securely underwrite must-pay industries.

Transactional Meta-Data

Create A-ha moments by combining your data models with Pay Theory’s data models.

Revshare

Our SaaS partners have the opportunity to share in the payments revenue. That means not only do you get a new feature without the developmental costs, but you get a new revenue generating feature.

Tailored implementation screen.

Tailored Implementation

More than a form! We break down implementation into 4 sections; Financial Solutions, Technical Success, Team Training, Payments Go-To-Market.

Level 2/3 Processing

Enhances transaction detail and eligibility for lower interchange rates with Level 2 and Level 3 processing.

To see a full list of our offerings, visit our Products and Services page.

See List
Checkout mockup screen.

Embedded Payments

Unique mix of websocket based SDK’s and GraphQL APIs make it easy to build the payment flows of your dreams. Get paid more (often) and eliminate barriers to payment.

API’s

Power payments data presentation in your solution.

PCI Level 1 Compliance

Enjoy peace of mind with the highest and most stringent level of Payments Security certification (PCI level 1).

Recurring Payments

Build payment flows that get you and your customers paid more often. PayTheory’s Recurring Payments infrastructure powers your subscription, payment plan, and card-on-file payments.

Case Study: The Carefeed and Pay Theory

Unified Payment Solutions for Healthcare

Read the Case Study

Building for the Needs of Healthcare

Addressing Seven Trends in Healthcare

Core to our mission is the flourishing of HealthTech. We know how to simplify money movement and build for healthcare’s unique financial and compliance risks so everyone can easily access the healthcare they need.

1

Increase in Out-of-Pocket Payments

Rising out-of-pocket expenses as deductibles and co-pays decrease.

FLEXIBLE, INCLUSIVE PAYMENT OPTIONS

From our unique digital cash payment option to payment plans, Pay Theory allows everyone to make a payment suitable to them. An example is ensuring anyone can pay a digital medical bill, regardless of banking status or financial condition.

Why it Matters

50% of all healthcare costs are now patient-led, amounting to about $370 billion a year.

2

Regulation Driving Increased Shoppability

New regulations require transparent pricing and easier comparison shopping for healthcare services.

Enabling New Pharma’s Payments

Pay Theory’s API’s deliver accurate, standardized payment processing data, helping SaaS platforms to deliver transparent payments-related user experiences for providers and payers alike. An example is powering precise cost estimates and final bills from SaaS platforms to providers and patients, enhancing trust and maintaining compliance.

Why it Matters

The Price Transparency Law mandates hospitals to publish contracted rates.

3

More Places Delivering Easy-to-Access Care

Growth in convenient care delivery models such as telehealth and telemedicine.

CAREGIVER PAYMENTS

Pay Theory uniquely supports payment acceptance in Telehealth and Teletherapy by allowing anyone to be able to pay, regardless of banking status, and working closely with platforms and merchants to ensure they can be properly underwritten. An example is implementing a unified payment system for a Telehealth platform that both allows for provider visits, as well as facilitating any appropriate prescriptions. This ensures a smooth and efficient diligence and underwriting process that makes accepting payments easy on the platform.

Why it Matters

76% of clinicians believe telehealth will become the norm.

4

Pharmacy Benefit Managers

Efforts to streamline and improve the efficiency of the pharmaceutical supply chain.

Enabling New Pharma’s Payments

Pay Theory’s unique underwriting approach allows us to effectively underwrite emerging online pharmacy solutions while maintaining Card Brand, Bank, and HIPAA compliance. We are the only PFAC in NA approved to underwrite Telehealth and Online Pharmacy SaaS platforms. Example: Providing compliant payment acceptance solutions to platforms and merchants bringing innovation to Digital Healthcare.

Why it Matters

The Justice Department, with federal and state partners, announced a two-week nationwide action resulting in charges against 78 individuals, including telehealth executives, for health care fraud and opioid abuse schemes involving over $2.5 billion in alleged fraud.

5

Caregiving Driven by Aging Population

Increasing demand for caregiving services due to an aging population.

CAREGIVER PAYMENTS

Pay Theory provides efficient solutions for caregivers to get paid and/ or be reimbursed. Example: Enabling digital reimbursement for caregivers providing at-home care for dementia patients, ensuring timely and accurate payments.

Why it Matters

In 2022, about 17.3 percent of the American population was 65 years old or over; a significant increase from 1950, when only eight percent of the population was 65 or over.

6

Growth of Payment Plans

Expansion of payment plans and financing options for healthcare expenses.

Payment Plan Integration

Integration with Care Credit and other BNPL solutions supports this trend. Offering patients a way to pay for surgeries in interest-free installments alleviates financial stress.

Why it Matters

20% of Americans believe they cannot repay their medical debt.

7

Digitization of the Payment Experience

Increasing digitalization of payments across the healthcare sector.

Payment Plan Integration

Digital payment solutions have made paying with cash a real problem. In addition to card and ACH, Pay Theory’s cash payment option allows payors to pay with cash without organizations taking on the liability of cash handling. Pay Theory has a network of over 65,000 retail locations where your customers can make their payments in person.

Why it Matters

1 in 3 American families are un or under-banked. As healthcare has moved to digital management solutions, the unbanked are left on the sidelines.

Payments Tailor-Made for Healthcare

Pay Theory focuses on what we call “Must Pay”—industries people must access whether or not they have the money. At the top of the list stands healthcare. We are building payments not for the needs of retail or eCommerce but for the unique challenges of healthcare.