Mastercard transforms B2B healthcare payments – welcome virtual cards

January 19, 2024
1 min read

Mastercard has launched a new claims payment solution for the B2B healthcare industry, delivered in partnership with cloud-based healthtech platform Remedinet. The solution leverages Mastercard’s virtual card technology to embed virtual cards within healthtech platforms, simplifying complex B2B payments and enabling faster, more secure transactions. Hospitals partnering with Remedinet can complete the payout process almost immediately, improving cash flow and reducing borrowing costs. The solution also provides transaction-level data and transparency for insurers, facilitating easier and automated reconciliation. The launch of this solution marks a significant step in the marriage of fintech and healthtech to overcome fragmented and inefficient processes that still challenge healthcare providers, particularly in emerging markets like India. Mastercard’s move to solve payments in B2B healthcare comes as legacy systems and manual claims processes continue to cause payment delays and increase strain on billing teams.

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