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SOURCE: Comdata Corporation
New vertical provides transformative solution to healthcare’s electronic payment challenges
BRENTWOOD, TENN. (PRWEB) February 04, 2013
Comdata Corporation, a leader in payment innovation, announced today its transformative solution for the healthcare industry through its new vertical, Comdata® Health. Backed by over 40 years of experience for over 25,000 clients, Comdata Health is defining the next generation of healthcare payments. With over an 80 percent electronic acceptance rate with providers receiving payments through trusted, existing electronic payment networks, Comdata Health Virtual Card Payments are transforming and solving healthcare’s payment challenges.
“Our innovative electronic solutions transform the way payments are processed, creating significant value for our customers,” said Steve Stevenson, president of Comdata. “We recognized the same need for efficiency in healthcare and the value that the Comdata Health Virtual Card Payments bring in reducing the cost of payment distribution for payers. Our healthcare vertical has been launched under the leadership of Tom Turi, executive vice president of Comdata Health. Tom’s wealth of experience in healthcare payments has helped us develop a solid strategy for the growth of Comdata’s solutions in the healthcare industry.”
Comdata Health Virtual Card Payments remove the most challenging obstacle to widespread adoption of electronic claim payments that plague the healthcare industry —provider enrollment. Most existing methods of electronic payment required providers to enroll and maintain their profile with each and every payer in order to keep getting paid electronically. “Virtual Card Payments use the existing Point-of-Service system that providers currently have in their office for patient pays and require no additional provider enrollment or set up,” said Tom Turi. “The cost of delivering payments is reduced for payers. Providers, in turn, can process their payments the minute they receive their first Comdata Health Virtual Card Payment, increasing their cash flow and reducing the time spent processing payments.”
About Comdata Corporation
Comdata Corporation is a leading business-to-business provider of innovative electronic payment solutions. As an issuer and a processor, the company provides healthcare, fleet, corporate payment, virtual card, and prepaid solutions to over 25,000 customers. Comdata captures and reports detailed transaction data, giving customers unprecedented control over their expenses. In 2012, Comdata joined forces with Stored Value Solutions (SVS) to offer an expanded suite of prepaid gift card and loyalty solutions. Annually, the combined company produces 580 million cards. Founded in 1969 and headquartered in Brentwood, Tennessee with more than 1,200 employees in the United States and Canada, Comdata and SVS are wholly-owned subsidiaries of Ceridian Corporation.
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