By: Nina Das
09 November 2010
Payment card is an industry first for payment of flu vaccinations.
Citi today announced the launch of the Citi(R) Flu Care card, a new corporate healthcare payment solution from Citi’s Global Transaction Services. The Citi Flu Care card is an innovative payment service designed to help employers reduce employee healthcare spending by shifting the administration of flu shots from doctors’ offices or on-site clinics to more cost effective pharmacy locations. Based on industry research, it is the first flu shot card payment product that does not require prepayment, and restricts use to flu vaccinations at over 17,000 pharmacies and clinics nationwide including CVS/pharmacy, Rite Aid, Target, MinuteClinic, The Little Clinic and any of the Kroger Family of pharmacies.
Until now, companies have relied on costly corporate onsite health providers or doctor visits for flu shot disbursement. With the Citi Flu Care card, employers can direct vaccinations towards lower cost retail channels, significantly reducing the average cost per vaccination by 63%. This means substantial and immediate savings for the company and a convenient, no cost alternative to the employee.
“For nearly 14 years Citi has been pioneering corporate payment solutions for a wide array of payment needs, from payroll and incentives to benefits and rebates,” says Paul Simpson, Global Head of Treasury and Trade Solutions, Global Transaction Services, Citi. “Now, we’re revolutionizing how individuals get their flu shots, providing greater ease, flexibility and access. It’s incredibly exciting to think about the impact this could have on the health and productivity of individuals and our economy as a whole. We’re excited to think about the other applications this product will have in market.”
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