Total System Service Inc. (TSS - Free Report) recently announced that affiliate, Transfirst, has joined forces with Raintree Systems Inc.
Raintree Systems is a technology company that provides value-based solutions for the healthcare industry. The company’s products are mainly designed to integrate software and technology to enhance the skills of medical professionals.
TransFirst, on the other hand, is known for its expertise in delivering transaction processing services through advanced payment enabling technologies. Hence, this strategic alliance between the two is expected to simplify payment options for patients. Under the terms of this partnership, Raintree Systems clients will gain complete access to all TransFirst all electronic payment solutions. Alongside, TransFirst's competitive pricing structure, dedicated program management specialists and 24x7 U.S.-based payment processing support will be made available for Raintree Systems clients.
The management at Raintree Systems believes that real-world problems of professionals working in specialized fields of medicine will be resolved to quite an extent by Transfirst’s offerings. Hence, the deal is expected to create a simple, elegant and hassle-free payment solution that will benefit the clients of both companies.
The Payment processing industry has witnessed more than 300% increase in out-of-pocket medical expenses over the last two decades. Notably, patient responsibility management and easing out payment processing are the two major areas of concern for the players in the medical industry and the transaction service industry. Hence, efficient payment accommodations, managing payments arrangements, and automating the payment transaction is of utmost importance. Based on these factors, we expect the aforesaid alliance to provide the industry with an unbeatable medical payment solution.
Transfirst will be largely benefitted by this alliance as the deal not only strengthens its position in the medical sector but also ensures long-term growth. With the shift in the focus of healthcare toward patient responsibility, Transfirst will now be able to facilitate its customers with point of sale and card-on-file capabilities and a broader set of payment options.
This technologically advanced solution will benefit both the providers of care and their patients during revenue generation, accounting for revenues, or processing transactions. Other Raintree Systems offerings like RT Connect, RCM / Rev-Edition, & Raintree Business Intelligence & Analytics will also support TransFirst.
TOTAL SYS SVC Price
Total System presently carries Zacks Rank #3 (Hold).
Some better-ranked stocks from the same space include JetPay Corp. , Mastercard Inc. (MA - Free Report) and Equifax Inc. (EFX - Free Report) .
JetPay, a financial transaction services provider, delivered positive surprises in two of the last four quarters, with an average beat of 3.43%. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Mastercard delivered positive surprises in all of the last four quarters, with an average beat of 6.86%. The company holds a Zacks Rank #2 (Buy).
Equifax, another financial transaction services provider, delivered positive surprises in all of the last four quarters, with an average beat of 4.38%. The company holds a Zacks Rank #2.
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