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PaySpan's Virtual Card Reimbursement Solution Speeds Payment, Reduces Fraud Risk and Increases Administrative Efficiencies for Healthcare Payers and ProvidersPaySpan's HPX ClaimPay Card(TM) Now or Soon to Be Available From Six Health Plans in Three States (April 25, 2012)
JACKSONVILLE, FL -- (Marketwire) -- 04/25/12 -- PaySpan, Inc. formerly Payformance, a leading provider of healthcare payment and reimbursement automation, today announced the addition of the HPX ClaimPay Card service to the PaySpan HPX Reimbursement solution set. The virtual card payment capability is a cost-effective alternative for payers and providers looking for ways to better manage the complex and evolving reimbursement needs of their business. Beyond adding flexibility to the reimbursement process, the ClaimPay Card service is designed to enable faster payment, reduce the risk of fraud, and increase administrative efficiencies.
Kevin Arner, president and CEO of PaySpan, sees card-based solutions like ClaimPay Card as the precursor to advanced reimbursement technologies: "Over the past eight months, virtual card methods of reimbursement have been well received in the market as payers deploy new strategies to strengthen provider relations. PaySpan continues to lead innovation in reimbursement technology and service with advanced capabilities that integrate healthcare and banking for both payers and providers."
Six health plans are in production or currently bringing to market virtual card reimbursement in three states. PaySpan continues its commitment to traditional payment methods employed today, such as check and ACH/EFT, and now leads the industry with large-scale innovative card-based reimbursement technology.
"PaySpan has delivered an innovative solution to paying electronically that meets the needs of state code without additional burden to our clients," said Roger Munday, vice president of Employee Benefit Management Corp. (EBMC). "PaySpan has been accurate and efficient in the conversion to this method of payment and I see both EBMC and PaySpan benefiting from our relationship going forward."
With more than 25 years of payments expertise, PaySpan, Inc. is a trusted source of innovative healthcare reimbursement solutions that Empower the Healthcare Economy for health plans, providers, members and banks. Its solutions enable stakeholders to interact across communities, conduct commerce, capture value, instill trust and strategically use reimbursement currency. PaySpan's customers comprise an elite array of industry leaders representing all benefit types, spanning both commercial and government sectors. For more information, visit www.payspan.com.
Amendola Communications for PaySpan
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