Consumer Health Technologies, Inc. (CHT) and TSYS Healthcare® today announced an agreement that extends streamlined payment solutions to consumers, enabling easier, more convenient and cost effective healthcare purchases.
TSYS Healthcare’s payment card solution offers end-to-end functionality with greater automation, refined reporting and smoother reconciliation capabilities, resulting in minimal error rates. The TSYS Healthcare system will be integrated into BenefitSpan™, CHT’s award-winning total benefit administration platform for managing HRA, FSA and HSA accounts.
BenefitSpan™ is a total benefit administration and service aggregation platform for healthcare administrators and financial institutions. The announcement brings CHT customers the confidence that TSYS, one of the world’s largest and most admired payment-services companies, is supporting their health and medical financial transactions.
“Our clients will achieve strategic capabilities and cost savings, given that TSYS is a proven expert in the emerging market of healthcare payment processing. The TSYS Healthcare benefits payment card provides CHT clients considerable flexibility and functionality” said Pradeep Goel, Chief Executive Officer of CHT. “This agreement is a testament to our determination to provide clients with best-in-class expertise and services that will help all stakeholders, including employer groups and participants, to optimize efficiency and reduce costs related to CDHC benefit administration.”
“This partnership offers a single source for all administrative activities related to plan members who use their debit cards to pay for healthcare products and services,” said Trey Jinks, president of TSYS Healthcare. “The ability to support real-time data exchange with CHT provides users with a truly seamless solution. At TSYS, our approach is to reduce unnecessary complexity when the industry needs it most. We’re pleased to partner with CHT, a fast-growing leader in software solutions for administrators.”
About Consumer Health Technologies, Inc.
Consumer Health Technologies Inc. (consumerhealthtech.com) enables healthcare administrators, payers and financial institutions to assemble, price, administer and deliver comprehensive CDHC benefit products and services via our platform, BenefitSpan™. BenefitSpan™ is a total CDHC administration and service aggregation platform that features enterprise integration architecture and converges healthcare and financial services to deliver a total solution that addresses the needs of the payer, administrator, sales, brokers, employer and employees through their respective portals. To learn more about Consumer Health Technologies products and services call (954)-315-0902 or visit our website.
About TSYS Healthcare
TSYS Healthcare (tsys.com), based in Minneapolis, Minn., was created as a division of TSYS in 2007 to provide end-to-end solutions tailored to the emerging market of consumer-directed healthcare. TSYS Healthcare is a founding member of the Special Interest Group for IIAS Standards (SIGIS), formed in 2007 to enable real-time, auto-substantiation for eligible medical items purchased with a FSA/HRA payment card. The division provides financial institutions, insurers, participants and third-party administrators (TPAs) with the expertise and support to navigate all aspects of health savings accounts (HSAs), health reimbursement accounts (HRAs), flexible spending accounts (FSAs) and lines of credit. Its new processing model enables consumers to use a single card to access their healthcare dollars. For more information about TSYS Healthcare contact healthcare[.]tsys.com or visit TSYS website.
TSYS (tsys.com) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, debt management, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information contact news[.]tsys.com or visit TSYS website.