What You Should Know:
– Ontario Systems, a provider of enterprise software that automates complex workflows and accelerates revenue recovery for clients in the healthcare, government, and accounts receivable management (ARM) markets, announced the acquisition of SwervePay®, a payment facilitator in the ARM and healthcare industries.
– With this transaction, Ontario Systems offers customers a simplified consumer payment engagement platform that helps drive revenue, reduces operational costs, and improves compliance.
Ontario Systems, a provider of enterprise software that automates complex workflows and accelerates revenue recovery for clients in the healthcare, government, and accounts receivable management (ARM) markets, announced the acquisition of SwervePay, an innovative payment facilitator in the ARM and healthcare industries. The acquisition of SwervePay offers Ontario Systems customers a simplified consumer payment engagement platform that helps drive revenue, reduce operational costs, and improve compliance.
Electronic payment processing is becoming an increasingly mission-critical function across various industries, especially as healthcare providers navigate the new normal. Ontario Systems can now unify payment processing for the nearly $35B in payments managed by the company’s software each year. The acquisition of SwervePay is Ontario’s first step towards aggressively transforming legacy on-premise software solutions into an end-to-end SaaS solution to automate revenue recovery processes and drive consumer payments. SwervePay’s consumer-friendly electronic payment solution makes payments easy and requires no app download or portal sign-in. Key capabilities include text-to-pay, same-day settlement options for ACH and credit cards, and account balance automated messages.
“The most important part of the accounts receivable operation is completing the final step—capturing and processing the payment— as smoothly as possible,” said Jaeme Adams, Vice President, Payments at Ontario Systems and former SwervePay CEO. “Together, Ontario Systems and SwervePay will remove an unnecessary point of complexity in the receivables process by unifying the workflow, consumer communications, and revenue capturing tools into one streamlined platform.”
