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U.S. Bank Introduces New Payment Solution for Physician Offices

MINNEAPOLIS--(BUSINESS WIRE)--Jun. 2, 2009-- Responding to a growing need among healthcare providers in the United States, U.S. Bank has launched Healthcare Payment Management (HPM) Essentials, a physician-focused payment tool that enables doctors’ offices to collect more patient self-pay balances – such as co-pays and deductibles – at the time and point of care.

HPM Essentials is based on U.S. Bank’s well-regarded and peer-reviewed Healthcare Payment Management program, but it is tailored to the unique needs of the private practitioner. Users can accept and track payments via credit card, debit card, check or cash and select additional functionality to meet the specific requirements of the facility, such as real-time insurance eligibility verification, out-of-pocket payment estimation, and payment plans.

“At a time when bad debt can run as high as $159,000 per provider office, the healthcare community is hungry for payment solutions that support both good business and good care,” said Ralph Bernstein, senior vice president of U.S. Bank Healthcare Payment Solutions. “Our HPM suite does just that. Physicians understand that with the right tools, they can significantly reduce bad debt and the associated collection costs. Our products are easy to use, support the doctor’s need to capture more payment when care is delivered, and enhance the relationship between patient and physician.”

Healthcare Payment Management is currently used by more than 8,200 healthcare professionals at 1,300 outlets nationwide. It was recently peer reviewed by the Healthcare Financial Management Association and can be seen at the HFMA’s annual conference, ANI, in June.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB), with $264 billion in assets, is the parent company of U.S. Bank, the 6th-largest commercial bank in the United States. The company operates 2,847 banking offices and 5,183 ATMs in 24 states and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.

Source: U.S. Bancorp

U.S. Bank Media Relations
Teri Charest, 612-303-0732

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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