Together, Sphere and RMS will allow for a more complete view of the revenue cycle, including health plan and patient-level payment data.

Nashville, TN, November 7, 2019Sphere, the leading provider of end-to-end integrated payments and security software, has partnered with Revenue Management Solutions (RMS), the leading technology-based healthcare remittance automation platform, allowing RMS to provide a comprehensive payment platform spanning across payer and patient payments.

RMS simplifies the complete revenue cycle by automating remittance management and eliminating manual processes. This solution scales to fit the unique needs of any healthcare provider from a single-doctor practice to a multi-facility hospital system. Trusted by more than 40 commercial banking partners and 1,000 providers, RMS solutions save time, reduce costs and improve efficiency.

The combination of the Sphere payment platform and RMS will greatly enhance remittance processing by allowing for a more complete view of patient revenue that includes both health plan and patient-level transaction data. Through dashboard and reporting tools, users will benefit from a clearer picture of health plan, patient payments, the payments breakdown, and other valuable insights.

With deep integrations into popular Electronic Health Record (EHR) software, the Sphere payment platform delivers broad payment acceptance functionality that is highly secure, compliant, and scalable.

“RMS has a long established track record in solving the complex challenges of healthcare remittance processing,” said Steve Rizzuto, Chief Executive Officer of Sphere.  “With relationships with top financial institutions and other large health systems, we are pleased to partner with RMS.”

“At high velocity, Sphere is expanding our strategic partnerships to include more of the healthcare revenue cycle,” said Andrew Rueff, Executive Chairman of Sphere. “As patient out of pocket expenses increase and become a greater part of healthcare providers’ revenue, solutions that provide consolidated financial information are critical. Our combined solution with RMS achieves this goal and much more.”

“Sphere’s commitment to providing secure, integrated payment processes allows us to expand our offerings to our healthcare and financial customers alike while maintaining the sacred trust we have earned,” said Scott Thomas, Chief Executive Officer of RMS.  “We are very excited to partner with Sphere to help shape the new payment experience from that of a patient to a customer in the healthcare market.”

For more information on Sphere, please visit http://www.spherecommerce.com.

 

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About Sphere
Sphere, powered by TrustCommerce, is a software and financial technology company providing integrated solutions that reduce friction and facilitate better and more secure commercial interactions with customers in specialized vertical markets, primarily healthcare, non-profit, transportation and education. Sphere’s integrated payments technology and security software enable its clients to process payments in a way that is: highly secure and compliant, integrated with their core business software, omnichannel, and processor-neutral. Sphere’s partner-centric focused payments solutions serve small, midsize and enterprise level businesses and software companies in the U.S., Canada, and Australia.
About RMS
Founded in 2006, and based in Oklahoma City, Oklahoma, RMS is the leading technology-based healthcare remittance automation platform tool available in the market. Currently used by more than 1,000 acute care, revenue cycle management, dental and pharmacy clients, RMS allows healthcare providers, outsourcers and facilities to optimize the remittance matching, reconciliation, and management processes. The Company, which processes nearly 14 million transactions each month, offers its technology-driven solutions both directly to customers and through established channel relationships with leading financial institutions throughout the United States.
For more information, please visit https://www.rmsweb.com/.

Maybe it’s too early to think about warm cozy fires, holiday cheer, and family gatherings, but it’s never too early to think about the booming holiday season for retailers and consumers. November and December pack a large punch for retail sales, projected to exceed $1.1 trillion1 this holiday season alone.

For most businesses the holiday season can represent as much as 30% of total annual sales2. Before you panic and begin to plan, we put together a holiday season checklist to make sure you are prepared:

1. Make sure you aren’t overpaying to accept payments

Businesses have so many moving parts it can be natural to choose a payment provider and stick with that provider for the long haul. It’s important to make sure you are checking in regularly to make sure you have the best rates possible! It’s highly probable that there is a lower cost option available for your specific business needs.

Before you dive into the holiday season, make sure you have the right plan and the right provider with a no-cost no-obligation rate check. If your rates are fair, then you know you’re with the right provider, and if Sphere can beat your rates, you’ve found a better option and start to save money.

2. Don’t stick with faulty malfunctioning equipment

Having modern, easy-to-use equipment to accept payments is no longer an option – it’s what customers demand! Why make it more difficult on yourself and your staff this holiday season to accept all payment types. Make sure your equipment is working for your business not against it and you are adequately prepared to handle the holiday rush.

Getting new equipment doesn’t have to cost and arm and a leg. If you need new equipment but are worried about the up-front cost, consider leasing the equipment for a low monthly fee.

 3. Adopt a system that works in every payment environment

Most businesses operate in multiple payment environments. Make sure you are giving customers the option to pay the way they want – don’t miss out on sales due to lack of payment technology. Your payment provider should support all payment environments: in-person, via mobile, online, and over the phone/key-entered.

 4. Update your technology recovery plan to prepare for down-time

During the holidays you should expect the unexpected. Make sure your payment provider is reachable no matter what time you need support. Sphere’s support line is open 24/7/365 by phone. We want to make sure any issues you encounter are solved efficiently and that you speak to a real person any time you call in. You don’t have to settle for second rate email-only customer service, especially in the most important time of year for your business.

Click here for more information on choosing Sphere as your merchant processor.

 

1 https://www.inc.com/anna-meyer/retail-holiday-sales-season-growth-2019-christmas.html

2 https://nrf.com/insights/holiday-and-seasonal-trends/winter-holidays/winter-holiday-faqs

Ever wonder who’s after your data? What about what they’ll do if they get it? The danger isn’t always obvious, so what do we need to look out for?

Join us Wednesday, December 4, 2019 at 10:00 a.m. PST to learn how to responsibly handle client data to reduce the impact of a possible security breach. Dr. Heather Mark, Director of Compliance and Security, will share tips on how to keep your data safe from potential security breaches, including:

  • What to do with data you don’t need
  • The importance of establishing information security policies and awareness
  • Selecting providers that are focused on protecting your data
  • And more!

Space is limited, so make sure you register while spots are available.

Register Today!

About the Speaker

Dr. Heather Mark, PhD, CCEP, Director of Compliance and Security, oversees compliance and security.  In this role, she’s responsible for promoting and ensuring that Sphere is in compliance with relevant law, regulation, and industry standards, and that its products promote and enable compliance for clients and partners. Previously, she served in various senior leadership roles, most recently at a wholly-owned subsidiary of a global payment processor, card issuer, and merchant acquirer.

Sphere, the leading provider of end-to-end integrated payments and security, welcomes new partner ServiceWorks.

ServiceWorks delivers a unified cloud-based platform to optimize all field service industry business operations so that owners can make intelligent decisions to grow their business. This all-in-one solution simplifies jobs, dispatch, inventory, point of sale, real time tracking, accounting, and much more. Founded in 2015, ServiceWorks has quickly established themselves as a leader in field service industry with more than 1,100 clients using the platform.

Through this preferred provider relationship, ServiceWorks will offer Field Service business owners bill payment using Sphere credit card processing and secure payment technology. In addition to accepting payment via many channels, owners will now be able to set up automated recurring billing that uses tokenization for secure card storage. With 24/7/365 customer care, easy sign up and flat rate pricing, payment processing is seamless and convenient.

The Cost of Non-Compliance

By Dr. Heather Mark

In recent years, the payments space has seen an explosion of new players.  This dramatic growth is good for the industry.  It drives competition and innovation.  The pace of change brings with it challenges, too.  One of those challenges can be the adaptation of traditional software companies to the unique risk and compliance requirements in the payments ecosystem.  These compliance obligations are often viewed as costly requirements that add friction to the process, but in reality they not only protect the company’s clients and end-users, it also protects the company’s revenue.  A common question among those new to the payments world is, “how much does compliance cost?”  That question, though, is a little myopic.  A more cogent question might be “how much will it cost our company to be non-compliant?”

In the payments industry, the consequence of non-compliance that comes to mind is the assessment associated with non-compliance with the Payment Card Industry Data Security Standards.   Each of the card brands assesses penalties separately, so a non-compliance finding or a breach carried with it the possibility of assessments from each of the four card brands.  For example, Visa’s published non-compliance assessment schedule (available in its Core Rules ) begins at up to $50,000 per non-compliance finding for the first violation. Mastercard’s assessment schedule can be found in their Rules, as well.  The assessments increase sharply for subsequent findings.  It should be noted that these assessments are merely for not being compliant with the security requirements promulgated by the brands.  This is not an assessment as a result of a breach.

In addition to the card brand consequences of non-compliance, in the event of a breach that exposes cardholder data, the bad news piles up quickly. All fifty states now have data breach notification requirements, meaning that an entity that suffers a breach in which personal data is compromised and there is a high risk of identity theft or financial fraud must notify affected consumers.  While the cost of notification and managing the public relations fall-out is high, so too is the likelihood of a class action suit.  While these suits are often dismissed on the grounds that the plaintiffs don’t have standing (fertile ground for another blog post) the fact is that companies legal spend skyrockets in responding to these cases and working to get them dismissed.

In egregious cases, companies may attract the notice of the federal regulators.  The Federal Trade Commission (FTC) is tasked with protecting consumers from unfair and deceptive trade practices.  The FTC has used this power, provided by §5A of the Federal Trade Commission Act, to take action in the event of a data breach in which consumer data is exposed.  A list of FTC enforcement actions regarding Privacy and Security related events can be found on the FTC website.  In egregious cases, entities may face fines and penalties, pay remuneration to affected consumers, and may be required to submit their compliance or security programs to FTC oversight for up to 20 years.

Fortunately, there are means to reduce interaction with regulated or protected data.  Some of these methods include:

  • Hosted Payment Pages – merchants can accept payments through the use of a hosted payment page. The Payment Page is hosted by a PCI DSS validated, registered service provider.  The payment information posts directly from the consumer to the service provider, bypassing the environment of the healthcare provider.
  • Tokenization – in this solution, the payment information is replaced with a randomly generated value that used to represent the payment mechanism. The healthcare provider can still use that token to process subsequent payments, as may be useful for patients on payment plans, reporting purposes, patient payment analysis, and chargeback or dispute purposes.  The benefit here is the reduced payment data footprint within the organization.
  • PCI Validated Point to Point Encryption (P2PE) – a P2PE solution is one in which the cardholder data is encrypted from the point of interaction (swipe, dip, entry) all the way through the processor. The payment is processed, but when the authorization response is sent to the healthcare organization, the payment data is replaced with a token.

While the regulatory environment is constantly changing, and threats to data will continue to evolve, the payments industry continues to adapt technologies to mitigate the risk to data.  Understanding how these technologies can be deployed to mitigate your data risk can help improve the customer experience and protect your bottom line.

If you’re thinking of adding payment functionality to your software solution, you’ll definitely want to get familiar with these six phrases. Why? Because with Sphere they could be a part of your daily payment experience.

Independent Software Vendors (ISVs) can embed Sphere credit card processing capabilities within their applications, allowing clients to take customer payments in one seamless process. If you’ve ever considered payments, you’ll quickly realize there’s a whole new language to learn and set of acronyms. To get the most out of your partner search, let’s take a look at these six phrases you’ll want to associate with your payment functionality.

Payment Gateway

Think of the payment gateway as a piece of a more complex and robust payment solution. A payment gateway doesn’t just let you accept electronic payment types such as credit cards, debit cards, and ACH/electronic check payments—it’s much more than that. Sphere’s payment gateway gives your company a compliant and brandable experience customized by you. They’re your customers after all, so they should experience your brand from beginning to end, not a cookie-cutter checkout experience.

Merchant Services

No matter the size of businesses you serve, chances are you’re still looking for the essentials: competitive rates on credit card processing, compatibility with a multitude of payment devices, and white glove, friendly service. That is automatic with Sphere. We aim to be a single source for all your current payment needs with room to grow in the future.

PCI Compliance

Security and trust are important aspects of a business relationship. That’s why Payment Card Industry Standard (PCI) compliance is essential, especially when data breaches are reaching the news on almost a daily basis. Know that your customer’s information is handled safely and securely with Sphere. Our solutions are PCI compliant (and then some) and help reduce your scope.

Validated Point to Point Encryption (VP2PE)

Remember the “and then some” we mentioned before? This is it. Sphere is the leading provider of secure electronic payment acceptance and risk management solutions which is why we offer validated point to point encryption (P2PE), Powered by TrustCommerce. That means your customer’s sensitive data stays safe, even in its encrypted state. With P2PE, your customer’s confidential information will be indecipherable to third parties.

EMV

Affectionately called “the card with the chip thingie” by customers, Europay, Mastercard and Visa (EMV) is the new standard for smart cards. EMV adds an extra layer of protection for customers and is quickly becoming the preferred method of payment for many, becoming synonymous with “fraud protection.”

Hosted Payment Page

Having a hosted payment page means that you don’t have to take on additional liability customer’s data passing through your systems. Sphere will do that for you, and with our security features and complete branding continuity, you can be assured that your customers are using a secure e-commerce payment capture solution. This simple, yet sophisticated solution allows for text-to-pay, email, within app and online payment acceptance.

Wrap Up

Does your current payment integration offer the same functionality as Sphere? If not, it might be time to upgrade to a company with a record for being secure, innovative and customizable. See these six phrases in action with Sphere.

Nashville Venture Connections Publication features Sphere in the article, “Nashville fintech: Waud-backed SphereCommerce eyes M&A opportunities.”

Here is a preview:
Sphere, the integrated payments technology and security software provider, won’t be deterred in its role as M&A consolidator by the frothy valuations it often observes, said Executive Chairman Andrew Rueff, whose office is in downtown Nashville, his hometown.

Read the full article here: http://www.venturenashville.com/fintech-spherecommerce-llc-cms-1898

 

When it comes to choosing an integrated payment partner for your solution, there’s a lot to consider: do you go with a familiar company? Or, a fresh option? Ideally, you want something that’s perfect for your business, but often solutions are either more than you need (at an exorbitant price), or not enough.

More often than not, money tends to drive these decisions. But there are other things you should ask yourself before picking the right payment processing engine for your solution. Perhaps the most important question should be:

“What can your payment processing partner do for you?”

Your business deserves more than “adequate” service, and that’s where we come in. With decades of experience advancing technology and putting clients first, Sphere is the natural choice for credit card processing. With Sphere, you instantly connect your customers with the most comprehensive, secure, end-to-end payment processing solutions. Let’s take a look at the top three benefits of integrating payments with Sphere.

  1. Sphere Helps Drive Your Business Revenue

Shouldn’t your payment processing partner do more than just meet your immediate needs? Sphere does. We help drive your business, providing you with more than just a point-of-sale system—in step with you as you grow.

Our products and services have all the payment features you need today and tomorrow, including:

  • Virtual Terminal
  • Transaction Security
  • Open API
  • Data Storage
  • E-Commerce Payment Pages
  • Reporting and Reconciliation
  • Mobile Payment App
  • Automated Recurring Billing Acceptance

Our applications support all major payment types including:

  • Credit Cards
  • Debit Cards
  • PIN-less Debit
  • ACH/Electronic Check Payments
  • Purchase Card (Level II and Level III) Processing
  • And More

Our systems integrate seamlessly with your current software requirements and adapt as you grow. The same thing doesn’t work for everyone; that’s why we offer custom options that work for you.

The right partner can make a world of difference. And in this competitive market, you should only trust the very best. We are an expert in our field, and we can help your business generate more revenue through technology and credit card processing.

  1. Strong Technology That Adapts

Technology is evolving quickly, and your payment processing system needs to be ready to change. Remember before credit cards had chips and certain outdated POS systems required awkward workarounds to make transactions work? Experience is everything, and your business needs a payment processing engine that’s future-proof.

Whether your software accepts payments through a single channel or many — Sphere can adapt to your business. With multiple integration options, and APIs in a variety of languages, it’s easy to get started.

There’s a growing need for a platform that can support more than just “basic” payment support. At Sphere, we understand the importance of flexibility. Businesses need integration that’s quick and efficient to support the way you do business today, as well as in the future. With our frictionless merchant application for credit card processing, we make it easy for your customers to sign up. To us, you’re a priority. We provide payment support that won’t slow you down.

  1. Manage Your Risk

Risk is never fun to talk about (and it’s even less fun to experience). Trust is an integral part of business, and a reputation of being secure and reliable is a necessity. Sphere helps you manage your risk by securing your data. We offer multiple methods to protect payments, including: validated point to point encryption, tokenization and hosted payment pages.

Get comprehensive risk management and security that allows you to defer much of the cost, risk and threat involved with handling cardholder information.

Wrap Up

Payments shouldn’t be a hassle, nor should getting the support you need to resolve any issues that may arise. That’s why integrated software vendors who are specialists in these and other industries partner with us:

  • Healthcare applications
  • E-commerce & Shopping Cart Developers
  • Membership management software
  • Bar and restaurant applications
  • Software Vendors

It’s time to take the complexity out of integrating payments. Accept payments your way with Sphere. Our payment processing solutions are designed for ease of integration with third-party software. Speak with the Partner team today.

HIMSS20

March 9-13, 2020
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