SOURCE: PaySpan, Inc.

PaySpan, Inc.

October 02, 2012 08:30 ET

Two More Health Plans Implement PaySpan's ClaimPay Card Solution to Speed Provider Payments and Increase Administrative Efficiencies

JACKSONVILLE, FL--(Marketwire - Oct 2, 2012) - PaySpan, Inc., formerly Payformance, a leading provider of healthcare payment and reimbursement automation, today announced Covenant Administrators, Inc. has implemented the HPX ClaimPay Card™ solution. Part of the PaySpan HPX Reimbursement solution set, the virtual card payment capability is a cost-effective solution that better manages complex reimbursement and improves the financial performance for payers and providers. In addition to introducing flexibility to the reimbursement process, the HPX ClaimPay Card service is designed to reduce the prevalence of fraud, improve cash management, and increase administrative efficiencies.

James F. Ballew, president of Covenant Services Group, a national third-party administrator and health benefits risk manager, stated: "Our partnership with PaySpan enables us to improve on our traditional outsourcing services. Implementing PaySpan's electronic payments services lets us accelerate payments to providers across the provider continuum while maximizing the value of Covenant's services on behalf of employers nationwide. This will help to meet our dual objective of serving both providers and payers with the best available services."

"We are pleased to work with Covenant to bring these advanced services to their employers and providers across the country," said PaySpan CEO Kevin Arner. "Virtual card reimbursement is a growing trend throughout the industry, and it is an honor to work among other industry leaders like Covenant to advance reimbursement technology and bring greater value to the healthcare economy for payers, providers and members."

About Covenant Administrators
Located in Lawrenceville, Ga., Covenant Administrators provides administrative products and services to our customers on a national level but with a local feel. We offer health benefits risk management services for self-insured health plans that include some of the most technologically advanced products and programs backed by our team of experienced professionals. Like our parent company, The Covenant Services Group, we are dedicated to our clients' satisfaction and work hard to provide you with the best third party administrative services available. For more information, visit www.covenantadministrators.net.

About PaySpan
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.

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