ARLINGTON, Virginia - Velocity for Medical Practices provides advanced patient payment options for medical practices. Practice Management software providers are expected to upgrade quickly to incorporate these new capabilities. Velocity Payment System provides advanced payment options for healthcare providers and for vendors supporting their back office systems. Leveraging recent developments in lower cost payment solutions, leading Practice Management Systems will continue to focus on enabling healthcare organizations to expand patient payment options and self services while lowering transaction costs.

Revenue management has long been a challenge for healthcare organizations. Medical practices have historically accepted electronic payments from patients. However, most practices have manual processes requiring re-entry of payment records. Additionally, the higher cost of credit card processing for medical practices has created demand for lower cost payment alternatives.

Velocity for Medical Practices enables healthcare providers to easily implement expanded payment options for patients and offers 24-hour self-service account management and payment acceptance integrated with their existing accounting systems. The end result; reduced manual efforts for office personnel and lower transaction costs.

“Healthcare remains one of our fasting growing segments. Our OEM and reseller network has seen substantial increases in sales to medical practices. We expect this trend to accelerate as Practice Management software providers leverage these capabilities into their own software solutions.”, states Greg Gentile, President, Govolution LLC.

The Velocity Payment System has offered healthcare specific payment solutions since 2003, including solutions for large healthcare management companies, hospitals and multi-location practices. Velocity has also been deployed by a number of leading national banks that have focus on the healthcare market. In early 2008, Govolution launched Velocity for Medical Practices to meet the needs of small to mid-size practices.