Established in 2016, Zelis Payments is a notable payment services provider that is present in the payment processing services industry. Based out of Bedminster, New Jersey, the payment services firm provides its solutions to healthcare providers from the eastern coast to the west coast in the United States.
Zelis is known in the industry for its specific design and focus on medical and dental providers in the U.S. Its notable payments processing system assists in managing e-transactions, streamlining data management processes, and watching fraud among other features.
Zelis, the parent company of Zelis payments, is known as a healthcare and financial technology firm with services that range from claims cost management to payments optimization options. The primary concept is that Zelis associates its idea of pricing, paying, and explaining the nature of healthcare to over 650 payers and 1.5 million providers across the nation.
The payment services company doesn’t intend to stop its growth anytime soon. Zelis Healthcare purchased RedCard Systems in October 2019 which enables it to have a presence in the market via enterprise-level service for electronic payments.
The firm notes that it is in the business of optimizing savings to its provider clients by offering services such as network analytics, network design, access, and integrity through its set of modern technology solutions. Zelis payment also prides itself on its speed, relationships with partners, and alignment with over 40 clearing houses.
Similar to Stax, Zelis Payments provides a number of payment solutions to its provider clients consisting of ACH payment processing, debit card processing, payment processing services integration, billing and invoicing, online payment processing, and general payment processing. It also notes offerings such as data security, reporting and analytics, payment fraud prevention, and PCI compliance.
The payments company has made great strides over the past few years, but despite its achievements and goal-oriented growth, it can be a bit expensive for its client base.
Providers and similar clients that conduct intense research realize that there might be significant value in considering other payment processing service providers.
Of course, businesses that have a growing base of capital may not have to think twice about collaborating with Zelis Payments. But those that might see economic contraction and are most cost-conscious may choose to be more discerning in its choice.
It is essential for you to be aware of the overall picture when it comes to your business and a potential collaboration with Zelis Payments or other payment services providers.
To guide you through this process, here’s how Zelis Payments services fares compared to more nimble and agile peers such as Stax.
As noted above, Zelis Payments has reputable payment processing solutions in the healthcare industry. The firm has a deep focus on delivering its solutions to the medical and dental industry.
From its debit/card credit card processing to remote web-based transactions, the firm’s service caters to its medical and dental clients’ crucial needs.
If you are in the early stages of your search for reliable payment solutions, this initial familiarization with Zelis Payments services will enable you to find out if it will meet your needs and is in line with your overall budget.
So how does Zelis compare to Stax?
Before we go on a bit further, it is necessary to note that Zelis Payments offers services in a split manner.
See, there are two types of clients that the company caters to. These clients are payers and providers.
Payers are those that are focusing on in-network or out-of-network medical, dental, and other claims payments. These are the insurance companies that are a critical part of the medical industry.
Zelis ensures to provide real-time, technology-oriented payment systems that minimize errors and streamline processes with an eye toward provider happiness.
They note that the advantages of using their system come with benefits like the ones present below. These benefits are:
- Lower physical mailing costs
- Total Reconciliation
- CAQH CORE compliance
- Improved reporting for additional insights
- 835 reports
- Alignment with providers every step of the way
Providers can gain substantial savings by moving online and modernizing their billing operations.
Zelis’s critical values for providers include simplicity, speed, and security. For instance, providers can improve operations with Zelis ACH. They note that providers can see improved turnaround times in cash reception via electronic payments over checks.
Finally, Zelis Payments emphasizes security with payment data that moves through a secure provider portal. Providers gain simplicity with the ability to reach payment data from wherever they are.
Again, the reason why it is important to note the distinction between Payer and Provider is that the more you research their offerings the more you realize that each party is provided different solutions according to their needs. You can then understand the impact of different points like the percentage fee, the payment process, and how electronic payments apply respectively to your own business.
Online Payment Processing
Online payment processing can be quite useful for dental and medical providers who might have to structure payments in a feasible manner.
Zelis Payments offers online payment processing for its medical and dental clients. This feature enables these clients to process payments without having to be there in person.
The secure setup of these payment portals is of great importance for medical and dental providers as they seek to minimize their risks in processing sensitive information. Zelis’s online payments portal also enables businesses to accept debit cards and credit cards that originate from different sources.
By doing so, dental and medical providers can also have more flexibility in how they deal with billing and working with their end clients.
Zelis Payments offerings can get the job done for businesses that turn to its solutions. However, there is no mention of POS software integration with Zelis Payments services.
Additionally, if you were to take a deeper look at these different benefits, you will notice that pricing is not as transparent as you need it to be. You will have to contact the provider to understand more information about its pricing. When you find out what its payment services will cost you, you may realize that it does not fit within your specific budget.
Stax Online Payment Processing
Stax is transparent with its online payment solutions and pricing. It also comes with the necessary features to conduct payment processing and modernize your payment infrastructure. In addition to other components, Stax is known for transparency, cost consciousness, and feasible payment solutions. Stax has overall simplicity, affordable payment solutions, and security with accessibility that matters to established and growing organizations.
Zelis Payments Virtual Terminal
The firm provides virtual card offerings for its provider clients. They do so by working with MasterCard to process payments via card-oriented options.
The virtual card process works by enabling office staff to merely input the virtual card information into the terminal to gain access to the payments. Medical and dental providers can notice the payment and card numbers’ details when they look at it through fax or via the Zelis Payments portal for providers. This simplicity and availability to download can streamline the process and allow staff to move through the processing and focus on other tasks quickly.
Zelis Payments will even enable paper delivery through USPS if it is of critical importance.
Zelis Payments notes the benefits of using a virtual terminal. The payments company states that it will help to minimize office time and payment delays that come with errors from conventional or traditional processing.
With Stax, your business has access to the wholesale card-not-present rates, as well as access to the Stax Platform. In addition to a full-featured invoicing and billing platform, you’ll have the ability to communicate with your customers quickly and efficiently through 2-way text messaging.
- Text to Pay – Text message requests have a 97% open rate with an average customer response within 90 seconds. With 2-way text messaging companies and customers can talk back and forth, make changes, and even pay.
- Customer & Catalog Management – Track relevant customer information, including tokenized cards. Store catalog items and keep track of inventory and sales against certain goods or services.
- Quick Payment for keyed-in phone payments – If a customer orders over the phone for curbside pickup, employees can key in payment information while on the phone.
- Recurring & One-Time Invoicing – Send professional electronic invoices via email or text. Customers can pay via email or text. Set up recurring payments or invoices for the customers as needed
Zelis Provider Portal
The Zelis Provider Portal is a seamless process system that enables staff to benefit from simplicity and convenience. For instance, the Zelis Provider Portal has routing, aggregated payments, simple sign-on in addition to other features.
Your staff can have transparency in regard to payment information dated back to a decade. This helps when your staff seeks to have a modern interface to view payments history through claims. You can also view remittance files that have been accessed via downloads.
Zelis Payments notes that they will never levy opaque fees and will note rates when you give them a call.
The simple highlights of this medium are present below:
- Navigate payments history denominated by claims or patient information
- Quickly access, save a file to your desktop, or print for a physical hard copy
- Quickly view payments summaries associated with payers through the dashboard
- Reminders or notifications via email or SMS for processed payments
- Security via the provider portal
- Modification of payments and notifications
- Manage and modify account access within your organization for higher security processes
Conversely, the Stax Platform enables providers to securely, seamlessly, and cost-effectively process payments when the card is not physically present. Businesses have peace of mind when using integrated payment solutions by Stax, knowing that there will be no surprise fees and simplicity throughout the process.
It’s a life-saver for those looking for a cost-effective, easy-to-use, all-in-one platform.
ACH Payment Solutions
The firm provides Zelis ACH as one of its key options where you can seek to receive payments quite a bit faster than what you may be accustomed to within your regular practice life.
For instance, the firm notes that you may see payments at an accelerated rate (sometimes as much as over 19 days faster).
That is a significant value add for Zelis ACH clients as they can gain quick and secure payments with this program. The idea is that once someone enrolls in the system then funds will start to deposit directly to your bank account.
Zelis Payments see the massive value-added here as access to the necessary payment information from one area instead of from multiple sources like a client may have had occurred in the past. The firm will also have 835 or notes on the payments present in several formats. Finally, current clients can gain electronic remittances securely in multiple mediums.
The firm states that clients can streamline administrative work that is associated with payment processing. Further, one can benefit from the growing network of payers.
Stax and ACH
Stax also provides ACH Payment Processing.
With Stax, not only can you minimize transaction costs using ACH payment processing, you receive the added benefits of having a central hub where you can access all the payment tools and analytics you need to run your business. Additionally, the payment technology company provides the ability to disable credit card payment options on invoices, allowing you to exclusively run ACH payments. The payment platform easily tracks your payments and processes them accordingly.
Due to their subscription-based pricing model, you’ll pay a one-time transaction fee no matter the transaction size. Whether your customers need a one-time payment or recurring billing, Stax can handle all of your payment processing needs.
Setting up ACH payments through the platform is easy and allows you to accurately track payments. By utilizing ACH payment processing over conventional credit card system facilitation, you’ll minimize transaction costs.
Enhance and Amplify Payments Confidence
Remember that data is kept safely and securely through the portal. Those who manage several TINs have access to simple sign-on systems with a singular dashboard that enables users to seamlessly move through TINs.
The idea is to seize control of the user management through user accounts for select parties.
The firm facilitates data movement to enhance data insights and improve decision-making with proper electronic remittances. From quick and appropriate reconciliation of remittances to claims payment flows, users can appreciate the data value present in the 835 processes.
The right insights present in 835s let providers know the right amount to bill patients or other parties.
Finally, Zelis Payments ensures ACA and HIPAA compliance and overall adherence.
Stax Security & Compliance
It is hard to forget about the importance of compliance in the payment processing industry. It is even more integral in the healthcare industry as it deals with sensitive information and is associated with even greater levels of compliance in more ways than one.
That is why Stax works with providers to ensure PCI compliance and works with existing HIPAA compliance procedures to ensure greater growth.
Stax is a Level 1 PCI Service Provider. Level 1 is the highest level of PCI compliance, and protecting sensitive data is a top priority at Stax. The payment processing company understands the importance of HIPAA and PCI compliance and provides multiple tools to empower small- to mid-sized businesses to maintain their own PCI compliance through self-assessment questionnaires, partnership with Approved Scanning Vendors (ASV), and intuitive compliance portals.
The payment processing company realizes that security is necessary in more ways than one and will make sure to provide secure portals, payment gateways, and security in more ways than one.
Zelis Payments Provides A Variety of Services but Might Not Be In Line with Cost-Conscious Businesses
Zelis Payments is optimal in many ways for providers as it has spent a few years bringing up this service and shown that it can meet the needs of a broad range of providers and payers.
At the same time, it might not be an optimal solution for those who seek to go a more cost-conscious route and have more features to enhance and optimize their business operations.
For those that seek a different provider, Stax could be an option for you. The payment processing service has been around for quite some time and improves its operations regularly to meet the needs of a wide variety of industries and networks.
The Stax Value
Stax understands that each and every one of its clients needs a few key components.
These components are present below:
- Customer Service
These are the hallmarks of a stellar payment processing experience and Stax works tirelessly to improve the process each and every day by working on each of these values.
Simplicity is present throughout the Stax process with subscription-based pricing, full transparency, and even operational excellence.
Its subscription-based payment processing service pricing helps clients to understand exactly what they will pay per month without additional hassles. The variable costs are those that have to deal with interchange fees from cards but Stax costs are fully transparent per month.
That means that providers can understand where their processing costs will be for each month and have a cleaner and simpler understanding of their overall costs.
Simplicity when it comes to cost is essential as providers can focus on other aspects of the business instead of worrying about costs. Indeed, zero additional fees, zero markups, and holistic transparency are quite important to Stax and its current and prospective network members.
The added value of integrated PCI compliance assistance, statements, and the peace of mind to switch to another provider without costs can help change the game for many providers.
Now, that is merely simplicity in pricing, here is the simplicity in operations.
You don’t have to find hassles when you set up Stax, it is quite simple to implement within your operations.
Data Processing and Comprehension
The Stax solution arsenal also comes with seamless access to data, analytics, and a comprehensive platform that enables providers to access the right materials at the right time. Providers don’t have to worry about viewing different applications for different parts of the payment experience.
Stax offers everything on one platform. Additional features include QuickBooks integration, over 200 available software integrations, and other features that can make a world of difference for your operation.
Award-Winning Customer Support
Customer success is a critical part of our service. You are always able to reach someone when you need it without worrying about having to wait for a long time just to speak to a robot.
Stax knows that customer service is integral to your business as you want to get back to taking care of patients and improving your quality of service without worrying about payment processing issues.
That is why Stax provides 24/7 in-house customer service.
The all-in-one Stax payment platform helps you reliably and securely collect payments from patients whether you have a traditional practice or think about operating a telehealth operation. Learn more about Stax and find out how you can improve your operations, modernize your payment processing, and minimize costs today. We welcome any questions you have and will assist you in utilizing the best all-in-one payment processing solution for your setting.