Payer with Managed Care, Marketplace and TPA lines of business to use PaySpan's Patient Centered Financial Home member engagement solution

ATLANTA - PaySpan®, Inc., the leading provider of health care reimbursement and payment automation services, today announced that Colorado Choice Health Plans will be using the company's healthcare reimbursement platform and Patient Centered Financial Home™ (PCFH™) member engagement solutions.

Colorado Choice provides coverage to some of Colorado's largest businesses through its Third Party Administration (TPA) of self-funded groups, fully insured commercial products, Medicare beneficiaries, children covered by Colorado Health Plans Plus (CHP+), and most recently Marketplace-eligible individuals and their families.

Colorado Choice selected PaySpan's platform to help achieve the Council for Affordable Quality Healthcare (CAQH) Core Phase III compliance to operating rules for provider payments' Electronic Remittance Advice (ERA) and Electronic Funds Transfers (EFT).

PaySpan's PCFH™ framework solution helps providers improve efficiency and lower risk by enabling automated payments to be received from the patient without the cost of traditional billing systems. The increased revenue, reduced risk and improved efficiency in turn improve provider satisfaction with health plans and TPAs such as Colorado Choice.

"As the largest health care payment network in the U.S., PaySpan clearly demonstrated throughout our competitive selection process why it is the leader in the managed care, self-funded TPAs and exchange and marketplace payer industries," said Cindy Palmer, CEO of Colorado Choice. "With PaySpan's turnkey platform, Colorado Choice can meet the association and timing requirements under CAQH without having to invest in significant enhancements or modifications to our existing systems. PaySpan's Patient Centered Financial Home™ framework promotes more effective engagement with consumers in their health care decisions, helping us to mitigate the growing collection problems often associated with increases in patient responsibility."

PaySpan's platform will offer providers in the Colorado Choice system a self-service environment to manage electronic payments from multiple payers, access associated electronic remittance advices and retrieve historical settlement information. This will allow Colorado Choice to increase services to providers.

By using these PaySpan solutions, Colorado Choice will expand and extend the capabilities of its existing HealthTrio and Monument Systems managed care solutions, enabling Colorado Choice to more efficiently reach and communicate with providers, payers and consumers across its network.

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