1 8 th national hipaa summit rick morrison, ceo adminisource/[email protected]...
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88thth National HIPAA Summit National HIPAA Summit
Rick Morrison, CEORick Morrison, CEOAdminiSource/RemettraAdminiSource/Remettra
[email protected]@remettra.com
Emerging Medical Banking Models That Emerging Medical Banking Models That Reduce Healthcare Administrative CostsReduce Healthcare Administrative Costs
March 8, 2004March 8, 2004
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Complex IssuesComplex IssuesComplex IssuesComplex Issues
♦ Health care industry has little experience with banking beyond cutting a check and reconciling statements.
♦ Banking industry, as a whole, has little experience with health care and is generally unaware of HIPAA.
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Healthcare Industry ChallengesHealthcare Industry ChallengesHealthcare Industry ChallengesHealthcare Industry Challenges
♦ Timeliness of provider payments
♦ HIPAA- Cost to track provider preferences- Cost of operating two payment systems
1. Print & Mail
2. ERA (& EFT)
♦ Realize return on investment from HIPAA
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Health Plan IssuesHealth Plan IssuesHealth Plan IssuesHealth Plan Issues
♦ HIPAA Dual payment systems avoidance
♦ Provider preferences tracking
♦ Risk of fraud- The chance of having a problem with a check
is 20 times greater than direct deposit- Payments have never been lost with direct
deposit- Direct deposit payments are traceable
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Health Plan IssuesHealth Plan IssuesHealth Plan IssuesHealth Plan Issues
♦ Expedite provider transition from a paper-based practice to an electronic environment
♦ Maintaining communication with providers in an electronic environment
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Provider IssuesProvider IssuesProvider IssuesProvider Issues
♦ Paid faster
♦ Automatic posting of receivables
♦ Access to multiple payers
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Secure Payment ProcessingSecure Payment ProcessingSecure Payment ProcessingSecure Payment Processing
♦ Provider Enrollment- Pre-registration & on-the-fly registration- Bank Account Authentication - Provider preferences online
• Payment delivery• Remittance delivery
♦ Re-association issues
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Health Plan’s Health Plan’s BankBank
Provider’s Provider’s BankBank
HealthcareHealthcareProviderProvider(hospital, clinic, etc.)
One SolutionOne SolutionOne SolutionOne Solution
Dollars and data re-associated
Printed Check, Remittance Advice, or Both
ERA Detail
EFT PaymentInstructions
Health PlanHealth Plan(Alliance Partner)(Alliance Partner)
RemittanceData
Proactive Notification of Payment
Reconciliation File
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Secure MessagingSecure MessagingSecure MessagingSecure Messaging
♦ Value-added product
♦ Encrypted e-mail- Secure method for health plans and providers
to communicate- Includes broadcast messaging
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ConclusionConclusionConclusionConclusion
♦ “Win-Win” business model- Health plans- Health care providers- Strategic alliance partners