News from the Wire

Boost, GHX to reduce costs for healthcare organizations

Friday, November 20, 2020 — 12:55:21 (EST)

NEW YORK--(BUSINESS WIRE)--Boost Payment Solutions, Inc., the global leader in optimizing the use and acceptance of commercial card products, today announced its engagement with Global Healthcare Exchange (GHX), the world’s leading healthcare trading partner network that securely connects those who buy, sell and use products needed to deliver patient care.

The arrangement between Boost and GHX will help enhance the way in which GHX’s customers pay suppliers who accept commercial cards and have complex settlement requirements. By optimizing payment processing, this drives greater efficiency for vendors and expanded utilization for healthcare institutions with commercial card programs.

"We're excited to collaborate with GHX and to offer their portfolio of healthcare providers Boost's suite of technology-enabled products and proven supplier enablement strategies designed to maximize commercial card use and acceptance," said Dean M. Leavitt, Founder and CEO of Boost Payment Solutions. "We look forward to working with GHX and its customers to create greater operational efficiencies and drive down the cost of healthcare.”

The COVID-19 pandemic has drastically disrupted the way in which organizations operate, including the way they conduct financial transactions. Healthcare organizations have been particularly impacted – in fact, it has been estimated by the American Hospital Association (AHA) that U.S. hospitals will lose a total of at least $323.1 billion by the end of 2020.

“This collaboration is especially timely as many healthcare organizations are struggling with financial solvency. It’s more important than ever that we aid our customers in better managing working capital and stabilizing cash-on-hand,” said Rob Alcock, General Manager, ePay at GHX. “In order to do this, there needs to be greater payment automation. Boost’s commercial card solutions will help our customers reduce friction in paying suppliers, further driving out cost and inefficiency from payment processes.”

Boost’s proprietary STP platform, Boost Intercept®, converts manual payment and reconciliation processes into a completely passive experience for both buyers and suppliers, thereby increasing commercial card use and acceptance across enterprises of all sizes.

About Boost

As the leader in B2B electronic payments, Boost optimizes how commercial card payments are initiated, processed, funded and reported. Boost's technical innovations have transformed commercial cards into a more cost effective scalable and secure alternative to traditional checks, wires and ACH. Boost features a global footprint that serves a broad spectrum of industries. Boost was founded in 2009, and is headquartered in New York, NY. Please visit us at www.boostb2b.com.

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Source: Company press release.