Atlanta-based Payspan, the leading provider of electronic healthcare payment solutions for health insurers, providers and consumers, announced that it has partnered with Aquina Health, a leading healthcare financial solutions provider, to expand financing options for healthcare providers. This partnership will enable Payspan’s provider customers to rapidly access short term working capital loans at attractive rates with an automated repayment process to help them address the financial challenges arising from the COVID-19 pandemic and subsequent recovery.
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Payspan’s large network of healthcare providers will have the opportunity to apply for financing with a quick underwriting and funding process. Aquina Health delivers short-term working capital with manageable repayable terms to support growth, expansion and resolution of the financial pressures caused by COVID-19. With access to fast funding, healthcare providers can retain employees, fund working capital needs as patients resume seeking treatment, upgrade equipment, and add new technology.
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“Healthcare providers are the heroes of this COVID-10 crisis, risking their health and livelihoods to save lives and ultimately end this crisis. As the largest electronic provider payment network in the U.S., Payspan believes in making things easy for providers in receiving claim payments from health insurers. We see the pain providers are experiencing now with their revenues down by horrific percentages and we want to help,” said Rob Pinataro, Chief Executive Officer of Payspan.
“Payspan fast-tracked launching this Aquina Health partnership as one of the best things we could do to help providers address the financial problems caused by the COVID-19 related restrictions on elective care and the coming surge of demand as those restrictions are removed. We understand the escalating financial pressures affecting the entire healthcare system and are committed to providing innovative healthcare solutions that benefit providers and consumers.”
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