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Payspan, now part of Zelis, is the nation’s leading provider of healthcare reimbursement and payment automation services, leveraging the largest healthcare network to drive value-based care reimbursement, improve the patient experience and reduce costs for payers and providers. We connect more than 600 health plans, 1.3 million provider payees and 100+ million consumers to facilitate alternative payment and reimbursement solutions and the exchange of meaningful healthcare information.
Eliminating Inefficiency and Costs of Provider-Patient Invoicing Inflation has affected every corner of our lives. The cost of consumer goods and services continues to rise with no end in sight. Eliminating Inefficiency and Costs of Provider-Patient Invoicing. The Consumer Price Index rose by 8.5% year-over-year in July 2022, compared to a rise of just 2.8% in the Health Care Price Index. 2.8% might not seem alarming, but it's important to consider that rates set by Medicare and insurers, which are a key driver of healthcare costs, are agreed to months in advance. This could delay the full effects of inflation on the healthcare industry. Healthcare providers must be proactive to the economic unpredictability of inflation by reducing operating costs.
Manual processes for medical and dental providers are expensive and time-consuming. In 2021 $42 billion was spent on administrative transactions.¹ It's estimated that $20 billion can be saved annually by transitioning to fully electronic transactions. While there has been an increase in adoption from 2018, providers are still processing more than 50% of their payments manually. The trepidation to fully adopt electronic transactions that would enhance provider engagement is a significant hurdle. Let's look at how the landscape has changed recently and discuss three strategies payers can implement to increase provider engagement.
Payspan, Inc. is proud to be Certified™ by Great Place to Work® on our first-year attempt. The prestigious award is based entirely on what current employees say about their experience working at Payspan, Inc. This year, 92% of employees said it’s a great place to work – 35 percentage points higher than the average U.S. company at 57%. Payspan, the largest healthcare payment network, offers electronic payment solutions that help payers and providers simplify the healthcare payment process resulting in reduced costs and improved patient and member satisfaction.
Empowering Our Employees to Give Back In Q1 2022, we engaged our employees in a few Volunteer opportunities that positively impacted our local Jacksonville, Florida community. These opportunities included for sorting for Feeding Northeast Florida; our community’s largest hunger-relief network, working to help the nearly 271,000 individuals across eight counties in Northeast Florida who struggle to put food on the table. We also included an additional enriching opportunity to serve our community by partnering with Habitat for Humanity (Habijax) in a construction volunteer event open to all employees. HabiJax is one of the largest non-profit affordable housing builders in Duval County and is considered to be one of the most successful Habitat for Humanity affiliates in the United States, having provided home ownership opportunities and other housing services to over 2,300 families. In addition, HabiJax is an advocate for affordable housing and fair housing policies and provides workshops and other training to help families improve their housing conditions.
Payspan employee's and their families engaged in a community volunteer opportunity with Feeding Northeast Florida and were able to package 2,798 meals for families in need. Feeding Northeast Florida (FNEFL) is your community food bank. It is the community’s largest hunger-relief network, working to help the nearly 271,000 individuals across eight counties in Northeast Florida who struggle to put food on the table. Feeding Northeast #community #volunteering #health Florida rescues high-quality food that would otherwise likely be sent to landfills and uses it to feed community members in need. Working in partnership with retailers, manufacturers, and farms, we rescued over eight thousand tons of food in 2018. Feeding Northeast Florida works to ensure that children and families, seniors, and veterans have the food and hope that they need so they can focus on building a foundation for a stronger tomorrow.
New Blog: The payment pivot: COVID-19 changed payment options The COVID-19 pandemic ushered in a plethora of changes that has impacted practically every aspect of life—personal and business. The pandemic did more than encourage acceptance of digital transformation, it accelerated it with the force and speed of a 100-mph roller coaster.
Payspan welcomes the mentioned partnerships by other companies: • Aquina - Webinar: Main Challenges Healthcare Providers are Facing Today. In #partnership with #Payspan https://www.linkedin.com/feed/update/urn%3Ali%3Aactivity%3A6740707036582961152/?actorCompanyId=15879 • Global FinTech Series https://www.linkedin.com/company/global-fintech-series/ • Atlanta City Biz List https://atlanta.citybizlist.com/article/640466/payspan-appoints-timothy-kelly-as-chief-technology-officer
Welcome to the Team Tim Kelly!
Join our CEO, Rob Pinataro on Wednesday, October 21 at 1:00 PM EST at the MGMA thought leadership virtual experience, for an in-depth, thought-provoking discussion on how COVID-19 is helping healthcare providers modernize and consumerize patient payment processes to accelerate cash flow, reduce late and defaulted payments, and improve patient satisfaction. #healthcare #covid #payments #cashflow #patientengagement #healthcareinnovation #reimbursement
