Integrated solution addresses CAQH CORE Rules for Electronic Remittance Advice (ERA) and Electronic Funds Transfer (EFT)
Platform supports industry transition to value-based payment models
JACKSONVILLE, Fla. and ATLANTA, Ga. – Availity, one of the nation’s leading health information networks, and PaySpan, Inc., the leading provider of health care reimbursement and payment automation services, today announced a partnership to integrate PaySpan’s platform for electronic provider reimbursement within the Availity Health Information Network®. Together, these solutions will power an innovative platform enabling health plans to simplify the provider payment process while reducing operational costs. At the same time, it offers providers a single solution for managing electronic reimbursements from multiple health plans and patients.
“Between payment reform, ACA mandates for ERA and EFT, and requirements for health plans to reduce operational expenses, we knew the market needed a proven, easy-to-implement solution for current and emerging payment issues,” said Russ Thomas, Availity CEO. “Moreover, with patient payment responsibility and out of pocket costs on the rise, doctors are demanding tools to help assess and collect patient dollars in the office, at the time of service. Our partnership with PaySpan creates that solution and we’re excited to bring it to the market.”
Availity and PaySpan will launch the new service in the second quarter of 2014 with the full PaySpan platform for electronic provider reimbursement and Patient Centered Financial Home™ solutions.
Kevin Arner, Chief Executive Officer of PaySpan, explained, “It is exciting to partner with a fellow industry leader like Availity. Together, we have the opportunity to advance connectivity and streamline reimbursement processes for payers representing over 150 million covered lives and for more than 700,000 providers nationwide. This collaboration will enable solutions that bring healthcare and financial services together to improve efficiency and reduce the complexity of reimbursement throughout the healthcare economy and advance the industry’s move value-based reimbursement.”
PaySpan’s electronic payment platform is the largest healthcare payment network in the U.S., and was awarded Frost & Sullivan’s 2012 North American Growth Leadership Award in Healthcare Payment Solutions. Availity operates one of the largest health information networks in the country, serves as the exclusive gateway for multiple health plans, and is the exclusive physician portal for 25 Blue Cross and Blue Shield plans nationwide.
“When you consider that the implementation of value-based payment models is outpacing the ability of many health plans to update their reimbursement platforms, outsourcing the payment process becomes an obvious option,” said Thomas. “We look forward to the workflow improvements and reduced operating expenses our relationship with PaySpan will deliver to the market.”
With more than 25 years of payments expertise, PaySpan, Inc. is a trusted source of innovative healthcare reimbursement solutions that Empower the Healthcare EconomyTM for health plans, providers, members and banks. Our 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.