services and their clients a great deal of hassle and frustration. Ultimately, by informing clients about encrypting payment card data at the point of service, billing services empower clients to reduce their risk of data breaches, which can cause billing services and clients significant financial and reputational damages. EMV eMV (europay, MasterCard, Visa) technology integrates a “chip” into a credit card to increase fraud protection for card-present transactions. For provider clients, eMV offers protection in the event that a patient tries to use a stolen credit card to pay for a co-pay at the point of service. With upcoming regulations around eMV, a client may be financially liable for card-present fraud if they have not implemented eMV by october 2015. However, billing services and clients should be aware that eMV alone does not prevent a breach – it merely prevents fraud at the point of service. To ensure payment data is protected, clients must use encrypted eMV technology. Apple Pay The recent release of Apple Pay will most likely prompt a new batch of questions from provider clients to their billing services, including if accepting payments this way is truly secure. Apple Pay was in 220,000 retail locations as of the fourth quarter 2014 and allows consumers to make card payments at the point of service using near field communication (NFC) technology with an iPhone. This new payment channel not only offers consumers a quicker and more convenient way to pay but also offers another layer of security. Credit card information is encrypted and stored directly on the phone and is never passed to the merchant or to Apple, decreasing the risk of a data breach. Healthcare Payment Technology As additional payment channels become available for providers to accept patient payments, it is crucial that billing services ensure they and their clients have encryption in place. As healthcare payment channels expand for consumers to pay their providers, billing services must offer the best security practices to ensure their clients and consumers are protected. Billing services can communicate to clients that, at a minimum, they must maintain compliance with all applicable PCI standards. However, it is also important for billing services to emphasize that P2Pe and eMV are key components to building a strong defense against data breaches. For more information, see InstaMed’s Payment Card encryption Payment Card Industry Technical Assessment whitepaper: 28 HBMA BIllINg • JANUAry.FeBrUAry.2015 www.instamed.com/white-paper-payment-card-encryption. Bill Marvin has been in the revenue cycle industry since 1993 and is the president and CEO of InstaMed, the leading healthcare payments network. Prior to InstaMed, Bill was an executive in Accenture's Health and Life Sciences practice, focused on payor to provider connectivity. Prior to Accenture, Bill founded CareWide (now a part of AllScripts after three acquisitions), a practice management system for provider offices. HoW APPle PAy WorkS Technology is upending the way customers pay for goods and services, and the latest entry into the arena is Apple Pay, available on the new iPhone 6. Here’s how it works: Users save credit and debit card information in the iPhone Passbook app and choose one as default. Select vendors have contactless readers available at checkout. The iPhone uses a technology called Near Field Communication to pull up Apple Pay automatically on customer phones. Customers verify payment by placing a finger on the Touch ID on their phones. Payment done. 1 2 3 Users can choose to use a different card other than the default at the time of payment. Apple Pay works with most major credit cards and US banks. Watch a demo at www.apple.com/iphone-6/apple-pay.
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