SpendWell HealthTM, an online marketplace for health care services, has partnered with PaySpan, Inc., the leading provider of health care reimbursement and payment automation services. Through the partnership, the SpendWell consumer retail experience of shopping for routine health care services now reaches PaySpan’s network of more than 700,000 health care providers. Together the partnership transforms how people shop for health care, provides financial benefits to providers, and promotes a patient experience that is more affordable, administratively efficient and economically sustainable.
SpendWell is leveraging PaySpan’s financial network to reach providers, payers and consumers to create a nationwide online marketplace to give consumers with high-deductible plans a way to shop for quality routine health care services at competitive and fair prices, while creating new opportunities for providers to expand their business by treating more cash-pay patients with no financial risk. Through a competitive market search and solution evaluation process, SpendWell selected PaySpan to power its financial reimbursement infrastructure for consumers, health plan members, patients, providers and payers using PaySpan’s Patient Centered Financial Home® commerce framework.
“Our new partnership with SpendWell’s market leading health care consumer retail experience extends and reinforces PaySpan’s commitment of Empowering the Healthcare Economy® through the integration of health care enhanced financial services. Our partnership with SpendWell brings to market a new era of health care economics to help people live well, through informed care purchases, utilization of their benefits, and efficient management of their patient responsibility amounts,” stated Kevin Arner, Chief Executive Officer of PaySpan.
As high-deductible health plan adoption continues, consumers bear more health care cost responsibility. As a result, employers are looking to SpendWell to help employees manage their health care spending and achieve greater value through quality care.
“PaySpan fosters a continuous financial dialogue between payer, provider and consumer to create an enhanced patient financial experience,” notes Marcee Chmait, President of SpendWell. “Our platform, combining price transparency with an online marketplace for health care services, puts PaySpan’s providers at the forefront of the market, enabling them to speed their revenue cycle, improve their patient collections and grow their business through additional patient access.”
PaySpan providers can quickly and easily join the SpendWell marketplace directly by completing the SpendWell registration process and linking their existing PaySpan registration and account information to their new SpendWell user account and profile.
SpendWell’s onboarding team helps providers curate their services and helps determine competitive market prices so practices can attract direct-pay patients.
Shopping with SpendWell is simple. Consumers search for health care providers and services, see reviews from other patients, determine their out-of-pocket costs for services, and pay online for selected services prior to the appointment. After the patient’s appointment, providers simply click to verify services and SpendWell releases the patient’s payment.
Examples of health care services that will be available on SpendWell include provider office visits, laboratory tests, imaging, outpatient procedures and specialty services from chiropractors and acupuncturists, as well as speech, occupational and physical therapists.
SpendWell is offering the service to employer groups nationwide. The SpendWell service will launch at the end of 2014. For more information about SpendWell, visit SpendWellHealth.com.
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About PaySpan
With more than 25 years of payments expertise, PaySpan, Inc.® is a trusted source of innovative health care 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 use reimbursement currency strategically. PaySpan’s customers comprise an elite array of industry leading payers, providers and solution partners spanning the health care reimbursement spectrum. For more information, visit www.PaySpan.com.
About SpendWell
SpendWellTM is an online marketplace where employees with high-deductible health plans can shop and buy health care services directly from providers. With clear pricing on everything from routine wellness exams and preventive care to screenings and urgent care, employees will be able to maximize the health care dollars they have to spend. And caring for direct-pay patients will give providers more time to focus on people, not paperwork. SpendWell is a wholly owned subsidiary of Cambia Health Solutions, Inc. Learn more at CambiaHealth.com. For more information about SpendWell, visit SpendWellHealth.com
