Navigation Links
Payformance Completes Sale of Corporate Payments Division
Date:3/13/2008

Company is Now Dedicated Solely to Healthcare

JACKSONVILLE, Fla., March 13 /PRNewswire/ -- Payformance(R) Corporation has completed the sale of its corporate division to SunGard. Headquartered in Wayne, PA, SunGard provides software and processing solutions for financial services, higher education and the public sector. The sale completes Payformance's transition to a healthcare only services company.

Recognized as one of the nation's leading providers of Electronic Funds Transfer (EFT) and Electronic Remittance Advice (ERA) solutions, Payformance will continue to provide EFT and ERA services, as well as related healthcare solutions.

"This is a great day for Payformance because we're now fully focused on the healthcare industry," said Dwayne L. McAfee, President and CEO of Payformance Corporation. "We believe this transaction is a sound business decision. We are excited to continue efforts to bring optimal claim settlement solutions to payers and providers, reducing costs significantly for both parties."

Payformance's vision is to improve all aspects of payer and provider communications within the claim settlement process. In line with this vision, Payformance is prepared to support the settlement requirements of Real Time Adjudication (RTA), helping the industry realize the benefits sought from RTA.

"Payformance is positioned to tackle the most complex settlement challenges facing the healthcare industry, including those surrounding RTA," said Lynn Carroll, Chief Operating Officer of Payformance Corporation. "The PaySpan Health solution provides the capabilities required to settle RTA claims between payers and providers."

Key Statistics

-- Payformance provides settlement services to 11 healthcare payers

-- Over 24,000 providers have accepted invitations from payers and utilize

PaySpan Health

-- Over 175 million claims will be settled through the PaySpan Health

service in 2008

-- Nearly $30 billion of claims will be settled through PaySpan Health

About Payformance Health

Payformance is the industry's most innovative provider of Electronic Funds Transfer and Electronic Remittance Advice solutions. Its flagship product, PaySpan Health, builds on the company's more than 23 years of experience in developing payment solutions. By automating the last phase of the healthcare claims process -- payment and remittance -- PaySpan Health optimizes funds transfer and remittance delivery and brings the promise of HIPAA administrative simplification to reality. Learn more at http://www.payformancehealth.com.


'/>"/>
SOURCE Payformance Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Health Care Solutions Provider Payformance Health Standardizes on PGP Encryption for Data Security
2. Eligard(R) six-month formulation successfully completes European approval procedure
3. The ScottCare Corporation Completes Acquisition of Rozinn Electronics, a Leading Manufacturer of Cardiac Diagnostic Products
4. EaglePicher Corporation Completes Transaction to Sell EaglePicher Boron, LLC to Ceradyne, Inc. for $69 Million
5. Symmetry Medical Completes Acquisition Of Specialty Surgical Instruments
6. GSI Securitization Completes Merger and Domicile Transfer
7. Medical Services International Inc. Completes Testing for European Union (EU) Application
8. Inverness Completes Acquisition of Cholestech
9. Billians HealthDATA Completes Comprehensive Long Term Care Database Update
10. Synova Completes Sale of $3.3 Million in Senior Convertible Notes and Warrants
11. Explorer completes the map ... for the bodys blueprint
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... ... ... The American College of Medical Informatics (ACMI) will present the 2017 Morris F. ... AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual Symposium is taking place ... the field of medical informatics, this prestigious award is presented to an individual whose ...
(Date:10/12/2017)... ... October 12, 2017 , ... Information ... we intend to develop to enable prevention of a major side effect of ... loss, especially in pediatric patients. For cisplatin, hearing loss is FDA listed on-label ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a leader in healthcare ... Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners were announced during ... , The annual award competition recognizes editorial and design excellence across a range of ...
(Date:10/12/2017)... Chapel, FL (PRWEB) , ... October 12, 2017 , ... ... is holding a treadmill relay – Miles by Moonlight to raise money for the ... donating $300 or more. , Teams will work together to keep their treadmills ...
(Date:10/12/2017)... ... ... Health Literacy Innovations (HLI), creator of the Health Literacy ... Patient Education Network (CPEN), an independent professional organization that shares best practices in ... , As CPEN’s strategic partner, HLI will help support CPEN members by sharing ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... Mich. , Oct. 2, 2017 Diplomat ... 8th Day Software and Consulting, LLC , and ... 8th Day Software, based in Tennessee ... LLC. 8th Day expands EnvoyHealth,s service offerings for health ... development. "In an ...
(Date:10/2/2017)... Oct. 2, 2017 Halo Labs announces the European launch ... called the HORIZON at MIBio 2017 in Cambridge, U.K ... visible particulate matter in biopharmaceutical samples with unprecedented speed and sensitivity ... novel technique Backgrounded Membrane Imaging. ... The HORIZON subvisible particle analysis system ...
(Date:9/28/2017)... 2017 Cohen Veterans Bioscience and Early Signal ... wearable and home sensors for real-time monitoring of patients ... a nonprofit organization focused on disruptive health solutions for ... analytical system to record and integrate behavioral, cognitive, physiological ... ...
Breaking Medicine Technology: