Organization Profile
PaySpan, Inc.
Organization Overview
PaySpan, Inc., formerly named Payformance Corporation, is a privately-held company based in Jacksonville, Florida. It operates the PaySpan® Healthcare Payment Network. PaySpan Health is the company's leading, branded solution for health-care payment simplification. PaySpan Health provides an electronic settlement network delivering comprehensive capabilities for Electronic Funds Transfer (EFT) and Electronic Remittance Advice (ERA). PaySpan Health ties payment information to claims data in a single view and also gives Providers unprecedented flexibility for payment management. Payers use the network to reduce administrative and Provider support costs. Providers gain a self-service environment to manage electronic payments from multiple Payers, access associated Electronic Remittance Advices, and retrieve historical settlement information.
Organization History
Founded in 1985 and based in Jacksonville, Florida, The Company originally developed one of the world's top selling business payment software systems. In 2000, the company changed its business model to become a service provider for business payments, issuing payroll and payables payments for companies such as AT&T, Pepsico, Boeing, Lowes, and Philips North America. In 2004, the company began development of a healthcare industry-speciifc payment system and launched the service later that year. PaySpan has become a trusted source for healthcare payment solutions through information technology for insurance companies and health plan administrators. With a reputation for innovation, PaySpan develops solutions that enable settlement of healthcare claims electronically with significant savings over historical methods. Through optimal healthcare claim settlement services, PaySpan helps health plans and healthcare providers simplify and save.
Notable Products / Brands
PaySpan Health
Notable Clients
BCBS Massachusetts, Excellus, HealthNow, Wellcare, RelayHealth
Notable Accomplishments / Recognition
Settled over $26 Billion in healthcare claim payments during 2010 representing 140 million healthcare claims. The PaySpan network represents over 250,000 registered healthcare providers.