Healthcare's New Model: Free EHRs and Integrated FinTech

TINLEY PARK, Ill. – December 03, 2025

A new partnership between global payments firm Payroc and healthcare technology provider Myriad Systems aims to tightly weave payment processing into the fabric of clinical and administrative software for private medical practices. The collaboration will see Payroc’s payment technology embedded within Myriad Health, an all-in-one Electronic Health Record (EHR) and billing platform. While on the surface it represents another step toward operational efficiency, the deal highlights a profound shift in the healthcare technology landscape, where financial technology (FinTech) and clinical management are becoming inseparable.

This convergence promises to alleviate long-standing administrative burdens for independent providers, but it also introduces complex new business models, chief among them Myriad's 'free EHR' offering, which hinges entirely on the adoption of its integrated payment services. For private practices navigating a post-pandemic world of rising costs and heightened patient expectations, the move signals a critical inflection point, forcing a re-evaluation of how technology is purchased, integrated, and leveraged.

The Quest to Cure Administrative Bloat

For decades, private medical practices have struggled under the weight of administrative tasks, from managing patient records and scheduling to billing and payment reconciliation. Industry studies have repeatedly shown that physicians and their staff spend an inordinate amount of time on non-clinical work, with some reports indicating over 70% of physicians feel that EHR systems have actually increased their administrative workload. This 'administrative bloat' not only detracts from patient care but also eats into the financial viability of independent practices.

The integration between Payroc and Myriad Health is engineered as a direct response to this pain point. By creating a single, unified platform for clinical, billing, and payment workflows, the partnership promises to eliminate redundant data entry, streamline patient collections, and automate back-office processes. Jeremy Shiner, Founder and CEO of Myriad Systems, noted the goal is to restore "a level of excellence long overdue in private practice tech ecosystems."

Functionally, this means a practice can manage a patient's journey from appointment scheduling to final payment within one environment. The platform leverages Myriad's AI-powered tools, such as MyScribe AI for transcribing clinical notes and Doctor ClearCare for providing upfront cost estimates in compliance with the No Surprises Act. Payroc complements this with its robust and secure payment infrastructure, enabling HIPAA-compliant features like text-to-pay links, contactless terminals, and secure card-on-file storage. The objective, as stated by Payroc's Executive Director of Integrated Payments, Conn Byrne, is to empower providers "to deliver better patient experiences while simplifying the back-office process."

A Crowded Field for Integrated Health Payments

The Payroc-Myriad partnership is not occurring in a vacuum. It is a strategic maneuver in an increasingly competitive market where the integration of payments and EHRs has become the new standard. Payroc itself is no stranger to the vertical, having previously established its Payroc Health division and forged partnerships with other healthcare software companies. This latest move signals a deepening of its commitment to capturing a larger share of the lucrative healthcare payments market.

The competitive landscape is formidable. Major EHR vendors like athenahealth have built extensive marketplaces featuring integrated payment partners such as InstaMed. Other established players, including AdvancedMD and Tebra, offer their own proprietary, fully integrated payment solutions. The space has also attracted technology giants and specialized FinTechs, with companies like Square, Chase Payment Solutions, and Phreesia all offering HIPAA-compliant payment platforms designed to integrate with practice management systems.

This intense competition is forcing vendors to differentiate themselves not just on features but on business models. The common thread is the recognition that modern patients expect seamless, digital financial experiences akin to what they encounter in retail and e-commerce. For practices, the pressure is on to adopt these integrated solutions to improve cash flow, reduce accounts receivable, and enhance patient satisfaction, making standalone payment terminals and manual reconciliation processes appear increasingly archaic.

Unpacking the 'Free EHR' Business Model

At the heart of Myriad Systems' strategy is its disruptive business model: a "truly free EHR and billing software" platform. This offer, however, comes with a significant condition—practices must use the company's affiliated payment processing service, Myriad MediPay, for all credit card transactions. With the new partnership, Payroc provides the powerful backend technology for this service.

The appeal of this model is undeniable, especially for new clinics or small, independent practices where budget constraints are paramount. Eliminating a fixed monthly or annual EHR subscription fee, which can run into thousands of dollars, significantly lowers the barrier to entry for adopting modern, feature-rich software. Myriad Health comes equipped with a comprehensive suite of tools, including unlimited e-prescriptions, insurance claims processing, and patient scheduling, making the 'free' proposition highly attractive.

However, this model effectively shifts the cost from a transparent subscription fee to variable payment processing fees. This raises critical questions about the total cost of ownership and the potential for vendor lock-in. A practice becomes tethered to the Myriad ecosystem, forfeiting the flexibility to shop around for more competitive payment processing rates in the future without undertaking the monumental task of migrating to a new EHR system. For a high-volume practice, the cumulative transaction fees could potentially exceed the cost of a traditional subscription-based EHR paired with a lower-cost, independent payment processor. The long-term financial viability for a practice hinges on a complex calculation of transaction volume versus the competitiveness of Myriad MediPay's rates, demanding a high degree of fee transparency from the vendor.

The Practical Hurdles of Digital Transformation

While the promise of a seamless, all-in-one system is compelling, the path to adoption is rarely without friction. Implementing any new core technology platform requires significant investment in change management. Staff must be retrained, and long-established clinical and administrative workflows must be completely redesigned to fit the new system's logic. This transition can lead to temporary dips in productivity and requires strong leadership to ensure successful adoption.

Furthermore, while the Payroc-Myriad platform creates a tightly integrated internal workflow, the challenge of broader data interoperability remains. Exchanging patient data securely and efficiently with external labs, hospitals, pharmacies, and other providers using different systems is a persistent hurdle across the entire healthcare industry. Practices must consider how a closed-loop system fits within their wider network of clinical partners.

Cybersecurity also remains a paramount concern. Although both Payroc and Myriad emphasize their adherence to HIPAA and PCI security standards, the healthcare sector continues to be a prime target for data breaches. Integrating financial and clinical data into a single, cloud-based platform consolidates risk, placing an even greater onus on both the vendor and the practice to maintain vigilant security protocols.

The partnership between Payroc and Myriad Systems is a clear indicator of the future of practice management technology, where the lines between clinical care and financial operations are being completely erased. As this trend accelerates, independent practices will increasingly face a strategic choice: embrace the efficiency and lower upfront costs of bundled solutions, or retain the flexibility of separate, best-in-class systems at the risk of integration headaches and administrative friction. The ultimate success of innovative models like this will depend on their ability to prove that the convenience they offer does not come at the expense of long-term value and transparency.