In this episode of Talking HealthTech, Peter Birch speaks with Pete Williams, CTO of Tyro Health.

The episode explores the evolution of healthcare payments, including the transition from Medipass to Tyro Health and the latest trends in digital wallets.

It also covers the practicalities of surcharging, regulatory changes, integrated payment solutions, and the potential impact of technologies like stablecoin and PayTo on medical payments for clinics and patients in Australia.

Peter and Pete break down what these changes mean for clinics of all sizes, from day-to-day operations to long-term strategy.

They discuss how seamless payment experiences can improve efficiency, reduce errors, and enhance patient satisfaction, while also highlighting the risks and challenges practices face in a fast-moving digital payments landscape.

The conversation offers practical insights, real-world examples, and a forward-looking view of where healthcare payments are heading.

Key Takeaways

💳 The shift to digital wallets has reshaped payments in healthcare, with over 90% of card-present transactions now happening via Apple Pay, Google Pay, or similar options.

🔁 Surcharging remains a significant consideration for clinics, with around 40% of medical businesses enabling it, though regulations may change.

📲 Integration between payment systems and practice management platforms is now common, driving efficiency with over 70% of clinics automating their payment and reconciliation workflows.

🪙 Emerging payment innovations such as programmable money and advanced bank-to-bank systems like PayTo have the potential to change how recurring and complex healthcare payments are managed.

🏦 Less than 35% of overall healthcare payments are processed through Medicare, making integration with private insurers and funders increasingly critical for clinics.

Timestamps

00:00 – Introduction

00:31 – Changes since Medipass and acquisition by Tyro Health

01:32 – Payment technology experiences in healthcare

02:46 – Growth of the Tyro Health team

03:18 – Clinic perspective on payments

04:36 – Impact of digital wallets

05:39 – Clinic decisions and recent regulatory changes

07:22 – Surcharging rules for debit vs credit cards

08:04 – Balancing payment convenience for patients

08:43 – Percentage impact of payment costs on clinic margins

10:03 – Integrating payments with practice management systems

10:52 – Automation and three-way matching in clinics

12:29 – Approaches to optimising payments

13:53 – Programmable money, stablecoin, and use cases

15:46 – Payment innovation and health system challenges

17:01 – Distributed autonomous organisations

17:21 – PayTo, direct debit, and recurring payments

20:37 – Integrating more funders and improving patient experience

22:29 – Wrap up and resources

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