Elavon Partners with Emdeon to Launch Transend Pay That Speeds up Healthcare Insurance Payments

Hospitals, providers to receive payments 3 to 7 days faster – and more secure – than paper checks

Monday, July 6, 2015 11:31 am EDT

Dateline:

ATLANTA & NASHVILLE, Tenn.
"The National Academy of Social Insurance estimates that nearly 30 percent of healthcare expenses are attributable to administrative costs as opposed to clinical costs"

Elavon, a leading global payments provider and subsidiary of U.S. Bancorp (NYSE: USB), and Emdeon, a leading provider of software-based solutions, network solutions and technology-enabled services that optimize communications, payments and analytics by leveraging its intelligent healthcare network platform, today announced the launch of Transend Pay, an innovative payments processing platform for hospitals and healthcare providers that significantly reduces the time it takes to receive payments from health insurance carriers.

Paper checks may have little to no direct cost to the payee, but there are numerous indirect costs associated with the handling process such as slowing down cash flow availability and adding non-patient paper work for staff. Electronic deposits via Transend Pay do not require staff to open, record, reconcile, and deposit payments, offering significant time savings compared to checks.

“The National Academy of Social Insurance estimates that nearly 30 percent of healthcare expenses are attributable to administrative costs as opposed to clinical costs,” said Rustin Fichtner, SVP and general manager of healthcare services for Elavon. “The combination of our global expertise in secure payments solutions with Emdeon’s leadership position in processing U.S. health insurance claims makes Transend Pay a premier payments option for providers so they can focus on providing the best care for their patients instead of spending time and resources on tracking paper checks from insurance companies.”

With Transend Pay, claim payments from participating insurance payers are deposited automatically into a hospital or healthcare provider’s bank account on file with Elavon and are reported on bank statements and MerchantConnect.com, Elavon’s online customer reporting tool. Because Emdeon serves as the clearinghouse for the paying insurance companies, protected health information remains secure via this new processing platform.

Mike Peresie, SVP of strategic marketing at Emdeon, stated, “Healthcare organizations of all sizes can benefit from our strategic partnership with Elavon as we bring this faster, one-of-a kind direct insurance payment option to market. The launch of Transend Pay also helps to answer the growing need among healthcare providers for solutions that reduce administrative costs.”

Elavon’s Media Contact:

Cara Crifasi 
Corporate Communications 
+1 303-268-2412  
Cara.Crifasi@elavon.com

back to top