Brand In Focus | Salucro
Salucro provides an integrated payment platform to create purposeful patient financial engagement solutions for healthcare providers and their partners. From patient-facing online bill pay solutions to payment integrations that enable new efficiencies for providers, the Salucro Payment Platform brings cohesive payment experiences to healthcare providers and patients across the revenue cycle.
Piyush Bhan, Vice President & General Manager who has been leading the India business for Salucro's payment solutions and playing a pivotal role in charting out the product fit as well as go-to market plan, adds “the Salucro Payment Platform offers a customizable payment solution with multiple payment types, seamless reconciliation and easy user control, making it an all-in-one payment system for IT, accounts, and operations teams. Revenue cycle and treasury leaders are learning how to optimize patient financial engagement while driving meaningful improvements to their bottom line with Salucro.”
Salucro is a Healthcare Financial Technology Company Exclusively Focused on Patient Payments and Billing. Their vision is to push the patient financial engagement experience forward with innovative FinTech solutions developed specifically for healthcare space, helping to automate manual patient billing processes, automate reconciliation, and improve brand loyalty for our healthcare consumers.
Salucro is passionate about delivering payment technology to the healthcare market, including hospitals, health systems, physician practices, and ancillary service providers, along with other revenue cycle service and technology companies.
Salucro strives to anticipate trends in the evolving healthcare marketplace, and work quickly to adopt them, bringing the most forward-thinking payment technology to their products and services.
Diversity - To cherish the diverse experiences, cultures, backgrounds, interests, and ideas that make up the team and allows it to create the most meaningful solutions possible for all customers.
Security - To go deeper than trust & safety and focus on security from design to implementation. Protecting customer, patient, and partner data is the cornerstone of the Salucro’s technology and services.
Teamwork - At Salucro, the greatest ideas don't come from the top, but from each other. The team works collectively and collaboratively to deliver innovations at an unmatched pace.
Quality - From development to support, Team Salucro delivers the highest level of their ability. Collecting feedback and driving ongoing improvements is one of the more important aspects of their team culture.
Clayton Bain, CEO and Founder of Salucro, ventured into FinTech quite by chance almost 20 years ago. He was running a small business in web development, during which time he was hit with an unexpected medical bill. With consumers able to pay for just about anything online on-time except for their healthcare services, Clayton sensed a need gap, and an opportunity to transform the healthcare payment experience for both patients and providers through more efficient and user-driven processes. Salucro was born as a disruption that would address this lacuna, and as a chance to bring advanced, retail-like payment experiences to the healthcare industry. The big idea was to combine efficient technology, quality patient experiences and increased price transparency to drive better patient engagement.
“When we think about our experiences in the retail world, we are often met with amazing digital experiences that we tend to take for granted, regardless of what happens behind the scenes to make those experiences possible. Bringing these amazing digital experiences to healthcare - from shopping for care, to estimating costs, to settling payments or securing financing for those services - is the key innovation area that all healthcare leaders should be looking closely at as a way to drive better brand loyalty and meet those consumer demands that patients are now coming to expect with the rising cost of care. This means leaders need to take a closer look at existing integrations, vendors, and internal investments around IT and patient experience to ensure they are on the path to truly execute against these necessary innovation areas”, shares Piyush.
Being a global company, Salucro differentiates itself from other patient payment and billing companies in the market in multiple ways.
Integration flexibility is a key differentiator, as the brand is one of the few companies focused on integrations within existing HIS/ EHR systems, kiosk, and Mobile/Website applications, creating a truly scalable solution.
Salucro offers multiple POS device integrations, online payments, e-wallets, and more. Their flexibility around platform configuration options is quite unmatched in the space, which enables them to meet the evolving needs of their growing and diverse customer business requirements. Salucro brings all of these differentiators to the table for healthcare providers and partners internationally.
Their ability to couple this advanced payment technology with tailored patient financial engagement solutions is helping Salucro stand out against others in the market and has proven to be an influential factor in winning new business and partnerships.
Improved engagement drives improved payment outcomes. The team realizes that the more they can help clients improve clear and concise patient billing, the more value they can bring to the relationship. And going by the current scenario, Salucro is well on its way to taking that relationship to new heights.
As healthcare costs continue to increase, along with the average patient liability amount for healthcare services, more and more patients expect ‘Amazon Like’ experiences when it comes to their payments. At the same time, healthcare providers don’t want to increase their operation, accounting, and technology overheads. Salucro has created simple, user-friendly, and flexible payment experiences that integrate into EHR systems easily and provide customized reports for seamless payment collection and reconciliation. “We offer new and innovative payment types that client IT teams are unable to take on internally without significant investment and/or reprioritization of other projects, leading to more and more healthcare providers, revenue cycle management partners, and financial institutions to partner with Salucro to help bridge this gap”, elaborates Piyush.
Salucro currently operates in several countries, including the United States, Canada, India, United Arab Emirates, and the United Kingdom. Each country comes with its own intricacies around both healthcare system costs and patient payment preferences. Outside of the US, specifically in countries without a nationalized healthcare system, the brand is experiencing an increased focus on the ability to collect payment upfront and provide clear and concise messaging around costs upfront as patients are required to pay before receiving service.
February 28, 2021 – Salucro was awarded with “Healthcare Achiever in Covid times” by World Health & Wellness congress.
August 11, 2020 – Salucro announced the addition of CareCredit to its patient payment and billing platform, combining CareCredit’s flexible patient financing products with Salucro’s revenue cycle focused patient financial engagement solutions.
Honoree – Becker’s Hospital Review “210+ healthcare revenue cycle companies to know,” 2019.
As Salucro aims to make its technology platform available in every country, their market-share continues to grow globally. With few barriers to prioritization and deployment of technology, the team faces never-before opportunities to tell their story, build their value and make a difference. The brand is currently serving over 900 provider locations, with plans to GO LIVE across 100+ new provider locations by the end of 2021. With near unrivalled levels of flexibility around platform configuration options in its space and category, Salucro is well poised for the emerging era, and to meet the needs of a new generation of business expectations.
“We are on a mission to provide integrated payment solution to the healthcare industry. We want to improve patient experience, provide newer payment options, make it a retail-like payment experience and bring efficiencies to the payment ecosystem at any healthcare provider. And we want to do that in every country”, divulges Piyush, articulating the future roadmap with optimism and conviction.
*This story is published by VOH team*
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