- ROUNDTABLE: Pharmacy’s future in sync with technology
- Bitcoin gains popularity among retailers
- Bitcoin payment service chief executive touts e-currency as federal authorities signal openness to it
- President Obama addresses health reform during State of the Union, industry responds
- Nielsen survey: Price most persuasive when incentivizing brand switch; improved features least influential
NASHVILLE, Tenn. — A developer of revenue and payment cycle management and clinical information exchange software is expanding its payment network.
Emdeon announced Friday that it would expand the capabilities of the Emdeon Payment Network, a large, automated payment distribution system for the healthcare industry. The expansion includes the recent opening of a new 100,000-sq.-ft. facility in St. Louis dedicated to supporting the network, which currently reaches about 60,000 pharmacies, 500,000 providers, 81,000 dentists, 1,200 hospitals and 300 labs.
"Today's announcement of our intent to integrate the Simplicity Settlement Services into the Emdeon Payment Network is further evidence of our continued investment in payment solutions," Emdeon EVP payer services Gary Stuart said. "As an established market leader in healthcare payments, Emdeon is best positioned to help payers implement strategic payment solutions designed to eliminate administrative settlement burdens while still offering providers a broad set of options as to how they will be paid."
The company also introduced virtual card services, designed to reduce payment distribution costs and streamline payment processes, and the company said that coupling VCS with Simplicity would provide payers with 1099 reporting, pre-funded virtual card payments, settlement and reconciliation and provider preference-based delivery capabilities. Emdeon is partnering with Echo Health in Simplicity.