This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ProfitStars Introduces BusinessManager For Patient Payments

Stocks in this article: JKHY

MONETT, Mo., June 5, 2013 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars ® division today introduced BusinessManager ® for financing the patient payment, also known as private pay, sector of medical claims. 

Patient payments include those charged for uninsured procedures such as elective surgeries, the patient co-pay portion of larger medical expenses, individual and family annual deductibles, and occasionally procedures for those uninsured at the time of service. Patient payments are rapidly expanding; the Centers for Medicare & Medicaid Services expect patients will pay $340 billion in healthcare expenditures in 2016 and $449 billion in 2021. ProfitStars has enhanced its BusinessManager accounts receivables financing solution for financial institutions to support consistent, predictable cash flow for medical facilities while easing the burden of patients' rising healthcare costs.

Oklahoma-based Great Plains National Bank has been a BusinessManager client for more than 10 years, generating $3.5 million in 2012 with the program which produced an annual yield of approximately 12 percent. Mark Russell, chief executive officer, said, "We have seen this program bolster great small business growth for the better, and are eager to broaden our reach to provide hospitals and doctors with the added cash flow to advance healthcare to their communities."

Karl Kohfeld, president of Kansas-based First Security Bank & Trust, added, "Patient payment funding adds a new dimension to BusinessManager. The program is now more rounded to accommodate the needs of different types of businesses, and is something that no one else could offer us. BusinessManager is a low-risk product for the bank, but one that serves as a valued profit center for us."

BusinessManager provides financial institutions with a proven solution for offering initial and ongoing cash to creditworthy businesses in exchange for their accounts receivables. Using data housed by the billing agent, BusinessManager for patient payments lets financial institutions fund accounts without maintaining personal healthcare data. That billing agent executes all patient documentation and collections on behalf of the healthcare organization while it receives funds for the book of accounts from the financial institution.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs