RoyalHealth and Atelio — Transforming Imaging Center Payments

Overview

RoyalHealth (also known as RoyalPay) partnered with Atelio to launch three innovative financial solutions for medical imaging centers: a Pay-by-Bank payment option, a patient wallet and card and a corporate credit card embedded within the Electronic Health Record (EHR) platform. These tools address critical challenges such as delayed patient refunds, rising credit card fees, and unsustainable technology costs, all while improving patient satisfaction and streamlining financial operations for clinics.

The Challenge

Medical imaging centers face growing financial and operational pressures:

1. Delayed Patient Refunds:
   Manual refund processes often take up to 90 days to complete. Patients are left frustrated, while staff waste valuable time tracking and issuing refunds. Peter Nassif, CEO of RoyalHealth, described it as a universal frustration:
   “Refund management involves both the business user and the patient, all with very different priorities. Patients don’t want to wait, and staff don’t want to be tied up on manual processes.”
2. Skyrocketing Credit Card Fees:
   Imaging clinics pay an average of 3.5% in credit card processing fees. As Visa, Mastercard, and other providers continue to increase fees, the cost ultimately falls on clinics and patients. Nassif pointed out:
   “Patients have to pay more for their healthcare, whether the cost is burdened by the clinic or not. At the end of the day, the consumer pays these fees.”
3. Rising Technology Costs:
   Healthcare providers have seen a 40% increase in technology costs over the last two years. Combined with declining reimbursements, these increases strain budgets for both small and large imaging clinics. Nassif stressed the unsustainability of this trend:
   “Where is it going to come from? We need solutions that help clinics thrive, not just survive.”

The Solution

Partnering with Atelio, RoyalHealth introduced three key innovations:

1. Pay-by-Bank Payment Option

• Patients can securely link their bank accounts and pay in just a few clicks.
• Clinics avoid high credit card fees, reducing transaction costs from 3.5% to 2%.

This solution directly tackles the growing burden of credit card fees while aligning with consumer trends. Nassif noted:

“Pay-by-Bank transactions are expected to grow from $2.6 trillion to $7 trillion annually by 2027. This shift is happening, and we’re positioning imaging clinics to benefit.”

2. Corporate Credit Card and Embedded Financial Tools

• Imaging centers can manage financial operations—such as viewing statements, sending funds, and making purchases—directly within the EHR platform.
• Refunds are processed instantly through the RoyalPay wallet as soon as claims are adjudicated, saving up to 90 days.

“We expect to lower the cost to the merchant from three and a half percent… to two percent. That is a significant amount of money.”

3. Automated Refunds via RoyalPay Wallet:

• Refunds are issued automatically as soon as claims are adjudicated, saving up to 90 days.
• Patients receive instant notifications, improving satisfaction and retention.

“Our wallet is going to automatically bring the refund back as soon as it’s adjudicated, eliminating all of the human work in between and actually presenting the patient with a satisfied experience.”

Nassif described the impact of these tools:

“Through the electronic health record platform, clinics will access their embedded accounts… providing capabilities of traditional bank accounts like viewing statements, sending money, and spending funds on virtual or physical cards natively within RoyalPay.”

The Results

1. 90-Day Time Savings on Refunds:
   Patients no longer need to wait for refunds or spend time on phone calls. Refunds are processed automatically, improving satisfaction and retention.some text
   • “Our wallet will automatically bring the refund back as soon as it’s adjudicated, eliminating all of the human work in between and presenting the patient with a satisfied experience,” Nassif explained.
2. Reduced Financial Costs:
   Imaging centers save significantly on transaction fees. Lowering costs from 3.5% to 2% translates to meaningful savings that clinics can reinvest into technology or patient care.
3. Sustainable Technology Spending:
   Clinics using RoyalPay’s corporate credit card and financial tools can earn rewards on transactions. These rewards can be applied toward software fees, easing the financial burden. Nassif boldly committed:
   “I’m willing to burn all of our software fees if it helps imaging clinics thrive.”

Key Takeaways

Through its collaboration with Atelio, RoyalHealth has delivered solutions that:

• Improve operational efficiency by automating refunds and payments.
• Reduce financial costs by cutting transaction fees and providing rewards.
• Enhance patient satisfaction with seamless, instant refund processing.

Conclusion

RoyalPay and Atelio are transforming the financial operations of imaging centers. By eliminating refund delays, reducing credit card fees, and tackling rising technology costs, RoyalPay enables clinics to thrive in an increasingly challenging healthcare environment. These innovations not only improve operational efficiency but also deliver tangible savings and better patient experiences—proving that RoyalHealth is leading the future of healthcare finance.