SAN FRANCISCO, June 19 InstaMed announced today therelease of its second white paper focused on the growing business problem ofPayment Assurance between Payers and Patients as Health Plan Members take ongreater payment responsibility. The white paper introduces a PaymentAssurance Framework for Payers and areas of opportunity that Payers canaddress as network discounts come under attack and threaten the Payer valueproposition to employers. The paper was released at the America's HealthInsurance Plans (AHIP) 2008 Institute.
"Money is at the heart of the relationship between Payers and Providersand network discounts are directly related to the number of Patient visits andthe level of Payment Assurance that a Payer can deliver to a Provider. AsMember responsibility rises, a Provider's cost to collect and bad debt alsoincrease. For a Provider to maintain its operating income in thisenvironment, it must increase revenue per visit, increase patient visits, orimprove its Patient collection efficiency," said Bill Marvin, President andCEO, InstaMed. "Payers can help by delivering greater Payment Assurance andsubsequently benefit through increased Provider network satisfaction and loweradministrative costs. Our white paper examines these challenges andopportunities for Payers looking to innovate new Payment Assurance models asbenefit structures evolve towards consumerism."
The white paper is available free of charge on InstaMed's web site atwww.instamed.com.
InstaMed is the industry leading healthcare payments network and platform.InstaMed's mission is to transform the healthcare payment process forhealthcare Providers, Payers, Banks and Patients so their payment experienceis simple, convenient, reliable and secure. InstaMed processes all of thehealthcare and payment transactions in the healthcare revenue cycle and offerspatent pending, integrated healthcare and payment transactions that acceleratethe healthcare payment process and reduce the administrative costs to allparties. InstaMed currently supports the healthcare payment processing needsof over 600 hospital and clinic locations; practice management vendors andbilling services representing over 50,000 providers; and hundreds ofhealthcare payers of all sizes. InstaMed is registered with Visa andMasterCard as a PSP of U.S. Bank. InstaMed is Payment Card Industry Level Onecertified and fully accredited by the Electronic Healthcare NetworkAccreditation Commission as a healthcare clearinghouse. InstaMed is an AHIPSolutions Partner (America's Health Insurance Plans), a member of the C.O.R.E.Initiative (Committee on Operating Rules for Information Exchange), theMedical Banking Project, ASC X12, HBMA (Healthcare Billing & ManagementAssociation), Electronic Payments Network ACH Association Services, and WEDI(Workgroup for Electronic Data Interchange). Visit InstaMed on the web atwww.instamed.com.Media Contact: Russell LaMontagne (917) 744-7957 [email protected]