SAN FRANCISCO, CA (June 19, 2008) – InstaMed announced today the release of its second white paper focused on the growing business problem of Payment Assurance between Payers and Patients as Health Plan Members take on greater payment responsibility. The white paper introduces a Payment Assurance Framework for Payers and areas of opportunity that Payers can address as network discounts come under attack and threaten the Payer value proposition to employers. The paper was released at the America’s Health Insurance Plans (AHIP) 2008 Institute.
“Money is at the heart of the relationship between Payers and Providers and network discounts are directly related to the number of Patient visits and the level of Payment Assurance that a Payer can deliver to a Provider. As Member responsibility rises, a Provider’s cost to collect and bad debt also increase. For a Provider to maintain its operating income in this environment, it must increase revenue per visit, increase patient visits, or improve its Patient collection efficiency,” said Bill Marvin, President and CEO, InstaMed. “Payers can help by delivering greater Payment Assurance and subsequently benefit through increased Provider network satisfaction and lower administrative costs. Our white paper examines these challenges and opportunities for Payers looking to innovate new Payment Assurance models as benefit structures evolve towards consumerism.”
The white paper is available free of charge on InstaMed’s web site at www.instamed.com.
InstaMed is the industry leading healthcare payments network and platform. InstaMed’s mission is to transform the healthcare payment process for healthcare Providers, Payers, Banks and Patients so their payment experience is simple, convenient, reliable and secure. InstaMed processes all of the healthcare and payment transactions in the healthcare revenue cycle and offers patent pending, integrated healthcare and payment transactions that accelerate the healthcare payment process and reduce the administrative costs to all parties. InstaMed currently supports the healthcare payment processing needs of over 600 hospital and clinic locations; practice management vendors and billing services representing over 50,000 providers; and hundreds of healthcare payers of all sizes. InstaMed is registered with Visa and MasterCard as a PSP of U.S. Bank. InstaMed is Payment Card Industry Level One certified and fully accredited by the Electronic Healthcare Network Accreditation Commission as a healthcare clearinghouse. InstaMed is an AHIP Solutions Partner (America’s Health Insurance Plans), a member of the C.O.R.E. Initiative (Committee on Operating Rules for Information Exchange), the Medical Banking Project, ASC X12, HBMA (Healthcare Billing & Management Association), Electronic Payments Network ACH Association Services, and WEDI (Workgroup for Electronic Data Interchange). Visit InstaMed on the web at www.instamed.com.
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