Excellus BCBS first launched ERA/EFT for provider payments in 2006, but after a decade only 22% of transaction volume was delivered as ERA/EFT. With ERA/EFT adoption low, Excellus BCBS began to experience increased print and mail costs over time, due to the rising costs of paper and USPS rate increases.
Excellus BCBS implemented the InstaMed Claims Settlement solution which delivers Integrated ERA/EFT® transactions to providers, and includes a full-service Provider Adoption Program and access to the InstaMed Network of healthcare providers.
Excellus BCBS Results With InstaMed:
- 145% increase in ERA/EFT transaction volume in the first six months after go-live with the InstaMed Claims Settlement solution
- Over 50% of all provider payment transactions delivered via ERA/EFT in less than a year
- Over $400k in cost savings in the first year of launch
“The InstaMed Provider Adoption Program has enabled us to deliver ERA/EFT to providers who were previously reluctant to adopt. That makes the gains even more impressive. We are finally seeing cost savings and efficiency improvements we expected to achieve with electronic transactions. Plus, our providers have been very happy with the ease of use of the InstaMed Platform.”
– Dave Johnson, Project Manager at Excellus BCBS