ATLANTA, GA--(Marketwired - Jun 5, 2013) - PaySpan, Inc., the leading provider of healthcare reimbursement and payment automation, today announced that Tufts Health Plan has selected PaySpan's platform for electronic provider payments to meet Affordable Care Act (ACA) mandated CAQH CORE Electronic Funds Transfer (EFT) and Electronic Remittance Advice (ERA) Operating Rules, and power an innovative electronic member platform to manage reimbursements and enhance member engagement.
Bill Nordmark, senior vice president of PaySpan, explained, "It is exciting to partner with forward thinking organizations like Tufts Health Plan, that are bringing innovative technologies to their providers and members. Our payment automation solutions are fast becoming the commerce and payments backbone of the healthcare economy, providing strategic market differentiation for health plans ready to lead the transition to value-based reimbursement."
Tufts Health Plan will go live in summer 2013 with the full PaySpan platform for electronic provider payments and will also launch PaySpan's new electronic platform for payer-to-member reimbursement.
According to Donna Breen, executive project sponsor from Tufts Health Plan, PaySpan's reimbursement and payment automation solutions will support a community approach to electronic payments. Breen stated, "We are creating value for our providers and members, engendering engagement and collaboration through improved transparency, actionable insight and an array of electronic payment methods including CAQH compliant EFT/ERA."
PaySpan's electronic payment platform is the largest healthcare payment network in the U.S. Awarded Frost & Sullivan's 2012 North American Growth Leadership Award in Healthcare Payment Solutions, PaySpan is the market leader in healthcare payment and reimbursement automation, representing more than 450,000 providers, 435 health plans with more than 64 million covered lives, and 15,000 financial institutions. PaySpan, an AHIP Select Sponsor, will be demonstrating its products and services at AHIP Institute 2013 in Las Vegas, booth #445.
About Tufts Health Plan
Tufts Health Plan is a nonprofit organization nationally recognized for its commitment to providing innovative, high-quality health care coverage. The plan offers members and employers an array of health management programs, which support evidence-based approaches to health and wellness.
Tufts Health Plan is one of the few health insurers in Massachusetts to participate in the commercial, Medicare and Medicaid/subsidized markets, offering coverage across the life span regardless of age or circumstance. Its HMO and POS are ranked second in the nation by the National Committee for Quality Assurance (NCQA)*. Its Tufts Medicare Preferred HMO earned a 4.5 star rating from the Centers for Medicare and Medicaid Services for 2013.
Network Health, a subsidiary of Tufts Health Plan, is ranked third in the country for Medicaid plans, according to NCQA Medicaid Health Insurance Plan Rankings 2012-2013.
Tufts Health Plan recently became the first health plan in the Northeast, and one of only twenty in the United States, to receive the National Committee for Quality Assurance (NCQA) Wellness & Health Promotion (WHP) Accreditation.
Headquartered in Massachusetts, Tufts Health Plan also serves members in Rhode Island.
For more information: www.tuftshealthplan.com.
With more than 25 years of payments expertise, PaySpan, Inc. is a trusted source of innovative healthcare reimbursement solutions that Empower the Healthcare Economy™ for health plans, providers, members and banks. Our 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.