Our PaySpan Community
This community gives PaySpan a unique view of healthcare as experienced by payer, providers, members and financial institutions. PaySpan's broad base of knowledge enables our stakeholders to interact across this community to deliver on the triple aim of healthcare reform to facilitate better care, better health and lower costs.
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Community
Current
Payers and Providers serve millions of Insured members across the healthcare continuum.Challenges
The communities for payers and providers are changing. New reimbursement models are bring new stakeholders to the table. Payers are now connecting with providers and members in new ways due to healthcare reform.Future
PaySpan will enable thousands of payers, providers and financial services companies to serve the critical and diverse needs of millions of insured members in the quality delivery and value-based financing of care. -
Commerce
Current
The billions of transactions and interactions among healthcare constituents are the commerce that defines the economics of reimbursement. In order for those economics to be sustainable they must be conversational.Challenges
Existing platforms will not support outcomes or value based reimbursement.Future
PaySpan conducts commerce across an open platform payers gain broad adoption, and a rapid reduction in administrative costs while improving provider satisfaction. By making transactions more conversational, the commerce becomes more strategic and valuable in the dialogue between payer and provider. -
Currency
Current
Paper checks, EFT/ERA and virtual card programs drive currency.Challenges
New currencies are needed to implement quality-based/outcome-based reimbursement.Future
As new payment models come to market and as the reimbursement paradigm evolves from services rendered to quality achieved; new payment forms beyond checks and ACH are needed and new reimbursement orchestration to match timing and sequence will be required. PaySpan is the only major payments network that has these capabilities now. -
Trust
Current
Trust is lacking. The current structure inhibits trust.Challenges
Creating outcome-based value now requires that stakeholders trust.Future
Create a trusted community- secure, conversational commerce
- fraud and abuse prevention
- improved patient care
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Value
Current
Payment without value and care without gain undermines the purpose of healthcare.Challenges
As reimbursement models shift to embrace the value of quality outcomes it creates the need to better understand and distribute risk across constituents. Data transformed into information is valuable when it is conveyed to the appropriate party at the appropriate time within the proper context to promote understanding.Future
$ + data + engagement + commerce = (outcome) value
The Healthcare Economy
EMPOWERING THE HEALTHCARE ECONOMY IS PAYSPAN'S VISION.
Our community of payers, providers, members and financial institutions represents the largest healthcare and reimbursement automation network in the industry. Community, commerce, value, trust and currency represent the five fundamentals that are foundational to how PaySpan measures the empowerment of the healthcare economy.
One year ago PaySpan began analyzing the data we process to determine how our data could describe healthcare interactions across the healthcare economy. What we found was that our data was foundational to describing the interactions across the healthcare economy. Costs, administrative savings and administrative efficiency are outlined in the healthcare economy index.
Sitting at the convergence of healthcare and financial services PaySpan is uniquely positioned as the leading healthcare reimbursement network to provide thought leadership to the industry.
In the fourth quarter of 2013 PaySpan will publish the first healthcare economy index report for payers and providers.