Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically integrated payment solutions, today announced a partnership with the Strategic Regional Healthcare Organization – The National Association (SRHO), a healthcare consortium enabling providers and facilities to operate and achieve economies of scale to succeed in population health care delivery.
REPAY’s partnership with SRHO is through CPS Payment Services (“CPS”), a REPAY company and market leader in healthcare accounts payable (AP) virtual card and AP disbursement services, and will provide SRHO health system members with new automation capabilities for accounts payable disbursements, optimizing internal efficiencies and bringing revenue generating savings to their bottom line.
CPS’ TotalPay platform automates the facilitation of all supplier payments for a hospital or health system while helping generate significant monthly cash rebates based on payments to accounts payable suppliers. CPS has a proprietary network of healthcare suppliers, enabling healthcare clients to generate typically 50% more in rebates than a bank program could achieve.
“We are thrilled to join SRHO in its mission to streamline payment processing workflows and efficiencies for healthcare provider members,” said Susan Perlmutter, Chief Revenue Officer of REPAY. “Automating complex legacy processes will not only alleviate mundane tasks, but it will also accelerate performance, increase value, reduce operating costs and help improve the bottom-line.”
“We are excited to welcome CPS to our consortium and look forward to seeing the impact they will have on our Members and their affiliate Hospitals. Our partnership presents a tremendous opportunity for our health system members to utilize AP automation and revenue-generating solutions to create operational efficiencies and improve financial performance,” said Mark Tribbett, Chief Executive Officer at SRHO.
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.
About SRHO – The National Association
SRHO, representing over 400 Hospitals and Health Care Systems, was created to assist regional SRHOs in advancement of their common interests, to develop regional or national markets to create the scale required to achieve next level strategic cost reductions, and to design the fundamental building blocks to manage risk and improve quality of care all while sustaining their organizational autonomy.