The potential savings from PaySpan Health are significant for both payers and providers.

For payers, the transition from paper checks and paper remittance advices to health care electronic funds transfer (EFT) and electronic remittance advice (ERA) can provide administrative savings as well as provider service savings. An administrative cost reduction can be realized of $0.215 or more per claim by reducing costs for printing, postage, equipment and labor. A services savings can be realized of up $0.20 or more per claim by allowing providers to serve themselves with online access to claim and payment information.

For providers, the savings are even greater – $2.94 or more per claim settled electronically. This savings is possible through avoidance of manual remittance keying, improvements in accounts receivable outstanding, and reduced calls to payers for service.

Payformance would be pleased to work with you to calculate an ROI specific to your organization for health care EFT and ERA. Please see the information below to contact Payformance and discuss an ROI discovery process.