5 ways to reduce patient debt and improve cash flow: a guide for practice managers
Written by Nick Panaccio, Head of Product, Tyro Health at Tyro Payments
Estimated reading time: 3 minutes
January 14, 2026 marked a major milestone for Tyro Health.
Practices and clinics using Tyro Health will receive next business day settlement for all private health insurance rebates across both our online and EFTPOS solutions. It’s a simple change that makes getting paid faster and managing cashflow easier than ever, with funds arriving a full day sooner than other leading claiming solutions.
It’s a technical change, sure, but one that makes a real difference to healthcare practices across Australia. Faster cashflow. Simpler reconciliation. One daily payment for every private health insurance claim processed by Tyro Health.
Settlement speed and simplicity matter. This change brings about both: faster processing and a single consolidated payment for all private health insurance rebates. We wanted to share why it matters, how we got here, and what it means for you.
Why this change matters
We’ve consistently heard from healthcare providers that settlement timing and reconciliation complexity are some of their biggest frustrations.
Getting paid by different health funds on different days meant juggling multiple remittances, unpredictable cashflow, and more admin than anyone wanted.
That all changes now.
With this update, all private health insurance claims through Tyro Health now settle as one payment the next business day, including HCF.
What this means for your practice:
- One daily deposit per bank account for all private health insurance rebates (including HCF), consolidated across both our EFTPOS and online solutions, and aligned with your existing next business day settlement for EFTPOS or online payments.
- Simpler reconciliation with only one deposit payment per day instead of separate deposits from HCF and other funds.
- Faster access to your funds. HCF payments will be deposited daily instead of weekly.
And here’s the special bit. With next business day settlement across all participating private health funds, Tyro Health now offers faster PHI settlement than other leading claiming solutions in the market.
That means claims processed on Monday are settled and paid on Tuesday, giving practices faster access to their money and more consistent cashflow.
And the best part? There is nothing for providers to do. No settings to change. No forms to fill. No disruption.
Just faster, simpler, smarter settlement. Automatically.
Why this milestone matters
We already pay EFTPOS transactions the next-business-day, and soon all private health insurance rebates processed through Tyro Health do too. It means every payment and claim now follows one simple, predictable settlement process.
At Tyro Health, our mission is simple: to make healthcare payments easier for everyone involved. Reaching full next-business-day settlement for private health insurance claims isn’t just a technical milestone, it’s a reflection of what we stand for: making payments faster, simpler, and more transparent for Australian healthcare providers.
We are proud to offer the fastest settlement for private health insurance rebates across all participating funds, and we will keep pushing the industry forward.
Because faster settlement doesn’t just help practices run better, it helps the entire healthcare system flow more smoothly.
Disclaimers
Tyro Health provides this article for general information and educational purposes and does not take into account the financial situation or need of any reader. The information provided must not be relied upon as legal, tax or financial advice.