The healthcare and electronic payment and reimbursement automation services provider Payspan has been acquired by the health tech business Zelis.
The two businesses’ combined capabilities will be included in the new Zelis Advanced Payment Platform, according to a press statement issued by Zelis on November 9th.
Zelis CEO Amanda Eisel stated in the press release that “Zelis and Payspan have been key players in healthcare payments, offering innovative solutions to healthcare insurers, providers, and more recently, consumers.” The combination of these two organizations “brings unprecedented visibility across the financial experience that will help us unlock the most challenging aspects of the payment process.”
According to the press release, the financial procedures in the American healthcare system are fragmented and frequently difficult.
With its integrated platform, increased capabilities, and effective and smooth transmission of payments among healthcare insurers, providers, and their members, Zelis intends to modernize the procedures, according to the press release.
For instance, providers will be able to select their payment method via Zelis’ new payments and communications platform.
Payspan CEO Rob Pinataro stated in the press release that the company has been offering financial solutions that empower health plans and providers for 18 years. For our two prosperous businesses, our clients, and our workers, this marriage makes perfect sense since we are so closely aligned with the Zelis goal.
According to Eisel in an interview published in October 2021, healthcare payments are at a crossroads as more decision-makers choose comprehensive transformation over adding digital tools in a continuous succession of point solution patches.
Eisel at the time stated, “There is this point of inflection.” “So much of what we’ve discussed in the past has focused on cutting costs, which is obviously important and crucial in this situation so that the costs can be deployed back into the system. It’s about how to give the patient or member a better experience. Both sides share the same desire to accomplish that.
