Supplier News Breaks Archives
Finpago launches EasyCopay to Health Mart
July 1st, 2011
HORSHAM, Pa. – Finpago Inc. rolled out its EasyCopay automated copayment claims service for pharmacies to all Health Mart members at the McKesson Trade Show in San Francisco.
Finpago said Friday that the service, available to pharmacies and consumers nationwide, eliminates customers' time spent waiting at the pharmacy counter or drive-through window when picking up prescriptions.
Via EasyCopay, consumers register any debit or credit card to automatically charge their preferred card for all out-of-pocket prescription expenses at the time the prescription is filled. The service uses existing pharmacy dispensing systems, processing like a prescription on the front end and a virtual credit card transaction on the back end, according to the company.
Finpago noted that the service comes to market two years after the FSAok AutoCopay service launched to meet IRS requirements for processing flexible spending account (FSA) and health spending account (HSA) debit card transactions as claims automatically through the dispensing system. The service, which complying with IRS notice 2006-69 is now being marketed as an additional program under the EasyCopay brand, enables pharmacies to process IRS, IIAS and SIGIS-certified claims without needing to purchase a point-of-sale system or suffer the limitations of the "90% Rule" exemption, the company explained.
"Independent pharmacies are a very busy environment, each filling more than 60,000 prescriptions per year. They also differentiate themselves by providing the highest levels of customer service. EasyCopay is an easy way for pharmacies to enhance the service they provide by getting customers in and out with their prescriptions quickly," stated EasyCopay chief executive officer Colin Kaye. "Pharmacies also benefit because they can work more efficiently, since using EasyCopay is as quick and easy as submitting a claim through their pharmacy system. It's convenient for customers and pharmacy staff alike."