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Elavon And Emdeon Team On Transend Pay

Wednesday, July 08, 2015 5:14:00 AM PDT | VentureDeal

   Atlanta, Georgia  --  Global payments provider Elavon has teamed up with Emdeon to announce the launch of a new payment processing platform.

Called Transend Pay, the platform is designed for hospitals and healthcare providers to reduce the time it takes to receive payments from health insurance carriers.

The system provides for electronic deposits that avoid staff having to open, record, deposit and reconcile payments.

The companies cited a National Academy of Social Insurance survey that estimated that up to 30% of health-care expenses are attributable to administrative costs, which the new service aims to reduce.

Emdeon serves as a clearinghouse for paying insurance companies and Elavon is a subsidiary of U.S. Bancorp.

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