Manila, Philippines – Exist Software Labs, a leading IT consulting and development services company with specialized Business Unit in HealthIT Transformation, has announced a strategic partnership with Security Bank Corporation, a leading universal bank in the Philippines. This collaboration is set to revolutionize healthcare claims processing through the introduction of HealthPay Connect, a cutting-edge platform designed to streamline and enhance the facilitation of Health Maintenance Organization (HMO) Letters of Authorization (LOAs) and hospital services. The initiative aims to ensure precise monitoring, timely settlements, and validated payments to hospitals and doctors, ultimately improving the entire healthcare ecosystem.
Security Bank and Exist Team Up To Transform Healthcare Payments for Providers and Patients with HealthPay Connect
By partnering with technology innovations provider Exist Software Labs, Security Bank, a leading universal bank in the Philippines is set to boost payment and claims transactions management to positively impact care delivery for the first time.
“The focus on improving healthcare delivery has never been more crucial than in the past few years,” says Joey Sison, FVP and Focus Segment Head of Security Bank. “We used to overlook how much slow payment and claims processing hurt local healthcare providers. Too much valuable time and resources are wasted for hospitals chasing paperwork because outdated billing systems remain complex and disconnected.”
With a 70-year legacy as the first private and Filipino-controlled bank, Security Bank believes in leveraging technology to transform into the most customer-centric bank in the Philippines, delivering seamless, personalized, and digitally-empowered financial experiences.
“By applying our strength in finance with a technology partner to digitize the flow of payments and claims, we are bridging that critical capability gap — ensuring our healthcare partners can swiftly access their funds, dramatically shortening claim cycles, and ultimately fulfilling our commitment to delivering better banking while contributing to improved healthcare delivery as well,” adds Joey Sison.
According to Willex Perez, VP for Sales and Director of Healthcare at Exist, “We are aware that healthcare delivery success is dependent on optimizing all care touchpoints, not just facilities, clinicians, and providers. This is where using properly designed technology comes in.”
He further adds, “A fragmented care system is an additional burden too heavy for patients to endure. Without an integrated sound finance and payment process in place, the ecosystem will collapse.”
Designed to streamline and enhance the facilitation of Health Maintenance Organization (HMO) Letters of Authorization (LOAs) and hospital services, HealthPay Connect is a cutting-edge platform that can revolutionize healthcare claims processing. This leads to precise monitoring, timely settlements, and validated payments to hospitals and doctors, ultimately improving the entire healthcare ecosystem and providing a superior patient experience.
Every company has its eye and pockets on digital transformation, Healthpay Connect essentially bridges the gap between banking and healthcare as it should through technology-enabled and optimized processes.
Driven by both compliance and operational demands, healthcare IT system implementations for hospitals and clinic institutions are steadily increasing and will continue to grow. The big push now is data sharing—making sure your patient information is instantly available across all doctors and facilities. This means care can find you, rather than you having to chase appointments.
To make this digital leap work, money must move just as fast. When banks connect with healthcare, they guarantee quick, stable funding and efficient management, which is the basic support needed for a modern, reliable health system.
“We’ve done our due diligence on both banking platforms and healthcare systems and providers that align with our vision and what we intend to achieve,” says Joey Sison. “And it wasn’t easy.”
“With its depth of experience across verticals such as banking and healthcare, we are confident that partnering with Exist, we can improve payment and claims processing significantly but achieve a meaningful experience for the patient as well.”
To learn more about Exist’s Healthcare Solutions, visit this page.
