EPS Solutions

Paper claims processing overloads the system.

The annual cost of health care in the United States is more than $2 trillion. About 15 cents of every health care dollar goes toward processing bills, claims and claim settlement.
 
That number could be substantially lower if more health plans and their care providers switched to electronic claims settlement. Currently, a mid-size health plan incurs annually:

• Approximately $1.8 million to print and mail checks and provider remittance advice (PRA)
• About $540,000 to void and reissue paper checks
• An estimated $1.6 million on provider calls to check claim status

Electronic claims processing can create a surge of savings.

OptumHealth Financial Services has a solution to combat these expenses - OptumHealth^SM Electronic Payments and Statements, a fully integrated electronic reimbursement and remittance delivery system. OptumHealth Electronic Payments and Statements allows health plans and their network providers to execute claims settlement without the use of paper, alleviating both the direct and indirect costs of a paper process. Plug in to our system and see the savings for yourself.

For health plans , OptumHealth Electronic Payments and Statements delivers remittance information and claim payments electronically from you to your providers. Electronic delivery speeds your claims settlement process while removing expensive paper, printing, and mailing of checks and statements.

An independent study* showed that payers can save up to $5 million over five years in administrative expenses, just by using OptumHealth Electronic Payments and Statements in place of a traditional paper-based process. In many cases these savings can be realized in the first year.

And because we already serve a network of over 366,000 providers, you can expect that a high percentage of your claims may move easily to electronic processing.

Health providers use the easy Electronic Payments and Statements Web site to receive, view and download claims payment and remittance advice information. And, with Electronic Payments and Statements, claims payments are deposited directly to your designated bank. So you get paid five to seven days faster than with paper and mail processing. Claims information is posted online one business day prior to the bank deposit, so you always know what’s coming.

*Case Study Forum, 2007