Payspan: Helping Healthcare Professionals and Patients Survive and Thrive Through COVID-19
Payspan salutes our nation’s healthcare professionals, heroes, fighting the COVID-19 crisis at great risk to their health and income. We stand with you honored to have the privilege of supporting you through this unprecedented set of events. Payspan has shifted to 100% work from home to protect our employees and community and to ensure continuity of our services to you. We have ensured our vendor partners are executing their pandemic response plans and we continue monitoring the situation daily to optimize our efforts. We are very pleased to report that COVID-19 has had no material impact on system or service performance, and we will continue prudently managing the situation to maintain service reliability. We are well prepared to support you both at this time of restrictions on elective care and the projected tremendous rush of work and payments when those restrictions are lifted.
Payspan’s services can help your firm survive and thrive as the COVID-19 crisis plays out.
Payspan delivers $400M of insurance claim payments and patient responsibility payments every day to healthcare professionals and COVID-19 has brought new meaning to the CFO’s adage, “Cash is king!”. Payspan is focused on helping providers convert insurance claim payments from mailed checks to direct deposit (ACH) and to shift patient responsibility payments from in-office to online and IVR. These electronic payments accelerate cash flow and reduce the need for your staff and patients to be in the office or to handle checks or mail.
If your office is still receiving insurance claim payment checks, please contact the Payspan call center to convert to ACH. (It is free, accelerates your cash flow and reduces your staff’s infection risks from handling checks and mail.)
Likewise, if your office needs a healthcare-centric, user-friendly online patient bill payment solution, please contact us at email@example.com .
Payspan also helps over 400,000 plan members pay their ACA marketplace insurance premiums online and through IVR. While heartbroken over the explosion in unemployment due to COVID-19, we admire the thoughtfulness of our health plan partners, who have created special enrollment periods to help the newly unemployed sign up for life-saving health insurance. Social distancing restrictions have strongly affected the ability of the most vulnerable members to make payments in person. Payspan’s multi-lingual online and IVR payment capabilities enable members to make one-time and recurring premium payments via credit card, debit card or ACH from the safety of their homes via phone or computer. With the number of unemployed now seven times the levels of just six weeks ago, the need for ACA marketplace plans could rise extraordinarily. Payspan has load tested our system at ten times current peak load with no issues to ensure we are prepared for anything the newly unemployed may need. As enrollment rises, we will raise our load testing targets to stay far ahead of future requirements.
The COVID crisis has redefined the concept of uncertainty as even the most respected scientific experts have been repeatedly confounded by unforeseen revelations as predictions fall victim to real data. Payspan’s approach has been to gather data from all relevant sources and then run our business on the mantra that in this current state of uncertainty we must focus on protecting our employees and community while supporting the healthcare industry to save lives and contain the outbreak. Thus, we moved very quickly to establish a heightened safety and business continuity posture, and we will move slowly on the eventual resumption of working from the office.
On behalf of all of us at Payspan, thank you for your courage and sacrifice. If there is anything Payspan can do to help you or your firm navigate the COVID-19 crisis, please contact us.