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:6/28/2017)... FRANCISCO AND TEL AVIV (PRWEB) , ... June ... ... 3D-imaging sensor company whose technology makes it possible to see through objects, has ... challenging makers to create consumer apps with its fully programmable, Raspberry Pi-enabled 3D ...
(Date:6/28/2017)... ... 2017 , ... Drs. Steven Crandall, Karen Johnson and Kathy Lopez are now ... St. Clair, PA, without a referral. The doctors address jaw pain and ... joint and facial muscles that support it. , Jaw pain can be debilitating, ...
(Date:6/28/2017)... ... ... B. Sosin, a founding partner at the law firm Sosin, Arnold & Schoenbeck, ... the Illinois State Bar Association , in accordance with the organization’s rules of succession. ... a state-wide election and served in that capacity for the past year prior to his ...
(Date:6/28/2017)... ... 28, 2017 , ... Schneider Insurance and Financial, a Yellowstone ... southern Montana, is announcing a focused charity effort to gather regional support for ... by Zoo Montana provide students with current knowledge on the characteristics and behaviors ...
(Date:6/27/2017)... ... June 27, 2017 , ... Nearly 70 percent of ... released today by the American Society for Dermatologic Surgery (ASDS). , ... of consumers considering a cosmetic medical procedure has doubled since 2013. , “Cosmetic ...
Breaking Medicine News(10 mins):
(Date:6/5/2017)... 2017 Kohll,s Pharmacy & Homecare is the first distributor ... States . The Raizer is a simple battery operated ... to an almost-standing position within a few minutes. ... assistant and does not require any extra effort besides ... child can operate it, and lightweight and portable ...
(Date:5/30/2017)... Hill-Rom Holdings, Inc. (NYSE: HRC), will present at the Goldman ... June 13, 2017, in Rancho Palos Verdes, California ... executive officer, is scheduled to present at 3:20 p.m. Pacific ... at http://ir.hill-rom.com/events.cfm . A recorded replay will be available ... 13, 2017. About ...
(Date:5/24/2017)... HAMPTON, Va. , May 24, 2017 /PRNewswire/ ... ivWatch Original Equipment Manufacturer (OEM) Board to enable ... technology with patient monitoring systems, infusion pumps and ... products, OEMs will be able to help health ... care and reduced risks related to IV therapy. ...
Breaking Medicine Technology: