US-based community-focused health insurer MVP Health Care (MVP) has decided to implement PaySpan's platform to automate reimbursements for providers and members across New York, Vermont and New Hampshire.
The payment tool will streamline payment processing and reconciliation for providers, will decrease administrative costs and simplifying member payments for improved patient and member service quality.
It will also help the health insurer to meet the Federally-mandated CAQH CORE Electronic Funds Transfer (EFT) and Electronic Remittance Advice (ERA) Operating Rules prior to the January 2014 deadline.
PaySpan payer economics senior vice president Bill Nordmark said that automating healthcare payments and reimbursements is a critical component of efficient interoperability in today’s complex healthcare economy.
"With our advanced reimbursement platform and expertise, and industry leading payers such as MVP Health Plan, we are enabling valuable payer-led provider-centric solutions for financial transparency in value-based care models," Nordmark added.
MVP Health Care operations corporate vice president David Orlando commented, "The PaySpan platform will enable us to streamline collaboration and communication with our providers and members."
Set up in 1983, MVP Health Care through its operating subsidiaries, offers fully-insured and self-funded employer health benefits plans, dental insurance, and ancillary products, such as flexible-spending accounts, to over 613,000 members.