ATLANTA--(BUSINESS WIRE)--Payspan, a leading provider of automated payment and reimbursement solutions for health plans and providers, today announced that it has implemented a methodology that is helping health plans transition to 100% electronic payments with their providers. Payspan’s approach applies best practices in provider enrollment, including the offering of multiple electronic delivery options, and guarantees elimination of print and postage costs for the health plan.
The business need for health plans to offer electronic payments has shifted over time. ACH payments were originally offered as a means of complying with regulations requiring that health plans offer electronic payment options to providers. Payspan leads the industry with ACH, making 100% of health plan clients fully compliant, and thus creating the industry’s largest network of providers.
Many large and regional health plans have achieved electronic payment adoption rates with Payspan between 90 and 99%, with the highest percentages achieved by those health plans who best adhere to Payspan’s best practices. Health plans are now looking to electronic delivery and its potential for reducing print and mail costs as a method for driving profitability. The potential cost savings are very attractive, as a client with 250,000 members who increases electronic payment delivery from 90 to 100% can save $7.81 per member and thus $1.8 million annually.
Payspan’s proprietary approach enables Payspan to guarantee the complete elimination of costs associated with print and mail delivery of payments. The solution starts with having the largest provider network in the industry and a combination of automated, self-service, and active provider enrollment campaign approaches. Payspan’s best practices in provider communication and phased deployment plans, which guide the activities of both health plans and Payspan, also play important roles.
Most importantly, Payspan’s approach also upholds as a primary requirement the respectful treatment of providers. Payspan has consistently found that in-network, out-of-network, high-volume and low-volume providers share an expectation of clear communication, the convenience of having multiple electronic delivery options, and great customer service.
“Payspan’s dedication to excellent customer service is the reason our routine surveys show 72% of providers would recommend Payspan to others,” says Payspan Chief Marketing and Product Officer Ben Lazar. “We are proud of our customer service and we find it very helpful in motivating providers to leave behind the familiarity of paper payment delivery.”
Payspan has a robust health plan implementation process, which delivers excellent results for clients, so much so that 100% of health plans implemented in 2017 would recommend Payspan to others. “This doesn’t happen by chance; it is the result of applying industry expertise, best practices, and a dedicated team comprising project managers, business analysts, data analysts and provider enrollment experts,“ says Sakia Robertson, senior vice president of customer service. Payspan’s advantages in provider enrollment include:
- A complete suite of ACH, VirtualCard and Print capabilities
- A nationwide provider network with over 1.3 million health plan-provider relationships and over 400,000 unique tax IDs paid in the past 12 months
- Automated registration that enables existing providers to auto-accept electronic payments from new health plans
- Multiple automated provider communications and self-service registration tools for new providers
- Seamless, integrated online delivery of payments and remittance advice
- Active email, web, print and outbound phone provider enrollment campaigns
- Expert resources, plans and metrics to drive results
“Payspan hears from many health plans how much they need to reduce costs and want to go paperless, yet struggle to overcome the challenges that stand in the way,” says Payspan CEO Rob Pinataro. “Payspan’s methodology works, and we keep making it better all the time. As the care delivery side of healthcare shifts toward measuring outcomes, Payspan is pleased to play its part in helping to drive down costs for health plans and providers by introducing our new guarantee of the elimination of print and mail costs for provider payments.”
Learn more about Payspan’s 100% Paperless initiative by visiting www.payspan.com/paperless. Health plan administrators interested in talking to someone at Payspan can call 1-844-400-4043 or email salesteam@payspan.com.
About Payspan
Payspan is the nation’s leading provider of healthcare reimbursement and payment automation services, leveraging one of the largest healthcare networks in the United States to drive value-based care reimbursement, improve the patient experience and reduce costs for health plans and providers. Payspan connects more than 750 health plans, 1.3 million provider payees and 1 million consumers to facilitate alternative payment and reimbursement solutions and the exchange of meaningful healthcare information.
