FOR IMMEDIATE RELEASE
PaySpan’s Patient Centered Financial Home™ platform streamlines managed care organization’s provider and member payments to improve service and reduce operating costs
JACKSONVILLE, Fla. and ATLANTA – November 18, 2014 – PaySpan®, Inc., the leading provider of health care reimbursement and payment automation services, announced today that Virginia Premier Health Plan, Inc. is adopting the company’s platform for electronic provider reimbursement and its Patient Centered Financial Home™ (PCFH™) member engagement solutions to simplify the payment process while reducing operating costs for both the payer and providers.
As a Managed Care Organization owned by Virginia Commonwealth University Medical Center, Virginia Premier meets the needs of vulnerable, low-income populations in more than 100 Virginia counties through its Medicaid and Medicare-Medicaid health plans. PaySpan’s platform will automate and significantly increase electronic payment adoption for the plans’ participating providers, enabling them to manage electronic payments from multiple payers, access associated electronic remittance advices (ERAs) and retrieve historical settlement information.
Electronic payment functionality will be enabled through PaySpan’s PCFH™ platform, which will also help Virginia Premier comply with the Council for Affordable Quality Healthcare’s (CAQH) Core Phase III operating rules for ERA and Electronic Funds Transfers (EFT).
“We needed to improve our electronic service offering for both our providers and members, while also reducing administrative costs.” said Carl Gattuso, Chief Corporate Officer of Virginia Premier. “We were happy to find that PaySpan meets those needs.”
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. PaySpan’s PCFH™ platform makes that possible, making it easier for providers to receive automated payments from members and also reduce the collection problems associated with increases in patient responsibility. Members benefit from the ability to manage all health care payments and accounts – as well as communication with providers and the payer – through a single, convenient portal.
“Eliminating paper checks and automating the provider payment process is an important step toward administrative efficiency.” said Kevin Arner, CEO of PaySpan. “We are pleased to help Virginia Premier Health Plan become more efficient in conducting commerce with providers and consumers. With PaySpan’s innovative Patient Centered Financial Home™ (PCFH™) platform, payment workflow is streamlined for improved member engagement and greater provider satisfaction. Virginia Premier is leading the industry toward lower cost, value-based care.”
About Virginia Premier Health Plan, Inc.
Virginia Premier Health Plan, Inc. is a nonprofit Managed Care Organization owned by the Virginia Commonwealth University Medical Center. Virginia Premier was formed in 1995 to coordinate health care for low-income persons, and it maintains a local community presence with offices across the Commonwealth. For more information, visit www.vapremier.com.
With more than 25 years of payments expertise, PaySpan, Inc. is a trusted source of innovative health care reimbursement solutions that are Empowering the Healthcare Economy® for health plans, providers, members and banks. PaySpan’s 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.