Health IT company Zelis has acquired Payspan, a supplier of electronic payment and reimbursement automation services for the healthcare industry.
In a press release released by Zelis on November 9th, the company stated that the combined capabilities of the two companies will be included in the new Zelis Advanced Payment Platform.
“Zelis and Payspan have been significant participants in healthcare payments, bringing innovative solutions to healthcare insurers, providers, and more recently, consumers,” Zelis CEO Amanda Eisel said in the news statement. Together, these two businesses “provide unmatched visibility throughout the financial experience, which will help us overcome the most difficult components of the payment process.”
The press release claims that the American healthcare system’s financial processes are disjointed and frequently challenging.
According to the press release, Zelis aims to modernize the processes with its integrated platform, expanded capabilities, and efficient and seamless transmission of payments among healthcare insurers, providers, and their members.
For instance, Zelis’ new payments and communications platform will allow providers to choose their preferred payment method.
According to the press release from Payspan, the company has been providing financial solutions that empower health plans and providers for 18 years. Payspan CEO Rob Pinataro. Since we are so closely aligned with the Zelis goal, this marriage makes perfect sense for our two thriving businesses, our clients, and our employees.
Healthcare payments are at a crossroads, according to Eisel in an interview that was published in October 2021, as more decision-makers choose for full transformation rather than adding digital tools in a continual string of point solution patches.
There is this point of inflection, Eisel said at the time. ” Cost-cutting has been the main topic of discussion for a lot of our previous discussions, which is obviously important and crucial in this case so that the costs can be reinvested back into the system. The focus is on improving the patient’s or member’s experience. Both parties are motivated to make that happen.
