Payment efficiencies within Fedsure Health have been given a shot in the arm with the announcement that it has adopted IQ Health`s HEALTHe CASH service.
The newly released electronic claim settlement service will enable medical schemes contracted to the service to make daily payments directly into health providers` bank accounts. This contrasts with current industry averages of between 15 to 90 days for claims settlement by medical schemes to providers.
Fedsure Health (Pty) Ltd believes that the IQ Health product will contribute significantly towards improving customer service and healthcare provider relationships while reducing administrative delays that have long plagued the healthcare industry as a whole.
Commenting on the adoption of the HEALTHe Cash service, Bruce Anderson, financial director of Fedsure Health (Pty) Ltd says: "The decision to adopt the latest technology underlines our commitment to our health care providers. HEALTHe CASH will both help streamline our administration and reduce fraud, which leads to greater efficiency."
Healthcare providers using HEALTHe CASH can expect payment within 24 hours of approval by the relevant medical scheme, instead of having to wait for the scheme`s next payment run. Claims can be submitted electronically via existing switches.
Johan Viljoen of Square Pharmacy, who was one of the first health providers to become HEALTHe-enabled, is very positive about the system
HEALTHe CASH
"It is already having an impact on my business in terms of service and efficiency," he commented "I get my remittance advice the next day to compare with the previous day`s claims and if there is any discrepancy, I can sort it out immediately. And as for my customers, the convenience and service it provides them are first class.
For instance if there is any problem with their medical scheme I can advise them immediately so that they can follow up and resolve it without having to wait a month or more."
Viljoen also expressed the hope that all other medical schemes would soon follow suit. "When all the major schemes are on-line it will have a major impact on our business," he explained, "it will turn our pharmacies into cash businesses with long-term benefits for all concerned."
Mr Rob McCrystal, credit manager of Medicine Chain, which incorporates forty pharmacies, is equally positive. "Getting remittance advices has always posed problems," he said. "In some cases months would pass which had negative repercussions on our cash flow. The HEALTHe plan enables us to keep our books up to date far more effectively. I would definitely recommend that all major schemes adopt the system."
The HEALTHe ZONE (on the Internet at www.healthe.co.za) offers a range of electronic medical products that provide healthcare transaction benefits to healthcare providers, employers and medical schemes. The website was voted among the top four ebusiness sites in South Africa in a survey conducted by management consulting firm Bain & Company.
Says Andre Sharpe Technical Director of IQ Health of the HEALTHe portal: "We plan to offer a holistic electronic solution that caters for the entire health care event. "
Response from industry has so far been encouraging.
"The portal is just three months old, yet it is already being used by more than 150 providers who use it daily to expedite the payment of claims. Payment occurs on average within 1,5 days from date of service by far the best in the industry," Sharpe says.
Over 200 000 claims per month are processed real-time on HEALTHe`s processing server. Transaction turnaround time averages at 14 seconds.
HEALTHe CASH is available to all providers, nationally.
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