COMPANY: boost payment solutions

Headquarters: NEW YORK, NY

Year Founded: 2009

WHAT PROBLEM WAS BOOST PAYMENT SOLUTIONS FOUNDED TO SOLVE?

Boost was founded to address inefficiencies in B2B payments where legacy methods create friction, delay and unnecessary cost. In healthcare, this shows up in two primary areas. First is healthcare procurement spend, where many suppliers serving healthcare providers and institutions are still paid largely by inefficient, operationally complex methods like check or ACH. Second is claims payments, where healthcare providers receive payments from many payers in multiple formats, often without consistent data or automation. Boost enables the use and acceptance of commercial cards in both scenarios, automating end-to-end payment delivery along with financial and HIPAA-certified claim reconciliation data while improving speed, security and visibility.

HOW DO YOU DESCRIBE BOOST PAYMENT'S RIGHT TO WIN IN YOUR MARKET?

Boost’s right to win comes from our focus on making commercial cards, particularly virtual cards, usable and scalable in complex healthcare workflows. For claims payments, we combine card processing with remittance data, claims data and automated reconciliation so providers can accept virtual cards in a HIPAA-compliant manner. For healthcare procurement spend, we enable suppliers to accept card payments efficiently and at scale. Our technology works within existing systems so no development work is required by the healthcare provider, and our deep relationships with payers, issuers and networks allow us to solve for both sides of the healthcare payment equation.

WHAT ARE YOUR KEY GOALS AND DEFINITION OF SUCCESS IN THE NEXT 12 MONTHS?

Over the next 12 months, our goals center on expanding adoption of digital card-based payments across healthcare claims and procurement use cases. Success means helping providers accelerate settlement and reduce administrative cost on the inbound side, while enabling more efficient, secure commercial card payments to suppliers on the outbound side. We are focused on deepening partnerships with payers, banks and healthcare technology platforms to drive scale. Ultimately, success is normalizing virtual cards as a trusted, secure and scalable automated payment method across healthcare.