Substrate Payments Network
In 2024, approximately $90 billion flowed through tax-advantaged healthcare accounts (HSA, FSA, and HRA). Yet there's over $600Bn in annual patient cost share that is QME (Qualified Medical Expense) eligible, but. currently processed on regular credit and debit cards.
The Substrate Payments Network (SPN) will help bring this payment volume online.
Patients often forget to present their HSA/FSA/HRA cards, already have another card on file, or don't know their balance. SPN enables healthcare platforms to a) lookup if patients have an account, b) check the patient balance, and c) with consent, charge the patient balance directly. Patients will no longer need to provide their HSA card.
For Platforms
Booking, Registration, EMR & Patient collection platforms can surface patient accounts and balances during booking, enabling patients to choose their HSA/FSA/HRA as a payment instrument.
For Patients
Patients can complete the visit with confidence that they'll save money on their copays, co-insurance, and deductible.
For Issuers
HSA, FSA & HRA issuers will be the top of wallet instrument for patient responsibility payments, before and after visits. QME documentation also posts automatically to the issuer system of record, completely handsfree.