MILWAUKEE, July 6, 2005 â Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI), today announced an agreement establishing Siemens Medical Solutions as a reseller for its electronic bill publishing and Just Pay It online bill pay products. With approximately 5,000 customers worldwide, Siemens Medical Solutions is a key business unit of Siemens AG (Munich, Germany, NYSE: SI), one of the largest global electronics and engineering companies, and ranks among the top health care industry suppliers worldwide.
"Improving accounts receivables efficiencies for our health care information technology (IT) customers has long been a top priority at Siemens Medical Solutions," said Mitchell Icenhower, senior director, Revenue Cycle Solutions, Siemens Medical Solutions, IT division. "Opening the door to Metavanteâs e-billing and Just Pay It products enables our customers to accept payments electronically and support multiple channels for revenue collection. Metavanteâs application service provider (ASP) model complements the strength of Siemensâ experience in that delivery environment."
Metavante online bill publishing uses clientsâ existing systems to create e-bills and other electronic customer or patient documents. While Metavante data centers host the e-bills which health systems and patients access on the internet, the health care provider retains control of the information, branding, and patient relationships, and can make the electronic statements available on their website of choice.
Siemens Medical Solutions is marketing the Metavante solution as the "ePayments Service," a value-added, patient friendly payment option that supports the revenue cycle solution for health systems. As more consumers look to manage their health care finances online, the ePayments Service will offer Siemens customers a competitive advantage that enables patients to make an online payment without sharing detailed personal information.
"Metavanteâs solution streamlines the accounts receivables process for Siemens Medical Solutionsâ customers choosing our products," said Frank DâAngelo, president and chief operating officer, Metavante Payment Solutions Group. "Consumers have such a positive experience while using Metavanteâs single payment solution that many choose to sign up for full-time electronic billing. As a result, billers see increased electronic payment adoption rates, receive timely payments and reap the benefits of eliminating costly printing and postage."
Metavante Electronic Presentment and Payment (EPP) is an industry technology leader providing a complete end-to-end solution supporting the entire life of the bill. Metavante provides innovative bill publishing and bill consolidation technology that generates millions of monthly payments and serves both biller and financial markets. Serving over 3,000 clients, the reliable and scalable Metavante presentment and payment engines enable businesses and consumers to present everything and pay anyone, anywhere, anytime.