3 Ways Provider Payment E-Networks Support More Than EFT
As more health plans drive provider adoption of electronic payments and remittances, they may not realize that their EFT networks can be leveraged to solve additional challenges beyond high administrative and labor costs associated with processing paper checks.
A healthcare epayment network is just the foundation from which to build innovative solutions that address even more payment issues.
Here are three ways that health plans can leverage their networks:
1) Create innovative provider enrollment techniques
Many of today’s networks have not been able to make a significant dent in enrolling the nearly 1 million providers in the U.S. Providers are often reluctant to participate because they are worried about fees and administrative costs associated with enrolling and participating. Many providers are not informed about EFT and how it works. They have a lot of misconceptions that hold them back.
That’s why it is important to have a strong provider outreach program that incorporates a combination of tools that make it easy for providers to enroll, such as:
- Phone and email outreach campaigns
- Follow-up calls by experts to answer questions and provide guidance
- Educational information about EFT and the benefits to their practices
- Training sessions about how to optimize their enrollment
When providers are brought up to speed about the benefits to their bottom line, they tend to respond positively.
2) Facilitate value-based care reimbursement
Providers are slow to adopt value-based care because they lack resources to interpret and apply complex value contracts. They need help and guidance to stay on track with applying national standards of care consistently. Health plans have the perfect opportunity to communicate about quality information over their secure networks to simplify the process for providers.
Healthcare epayment networks are ideal for securely exchanging sensitive medical information via attachments. Health plans can inform providers about care gaps on demand and provide guidance on the quality measures needed to close the care gaps, as well as information about financial incentives available for taking action. Providers, in turn, can share proof of care gap closures to receive their incentives. It’s that simple and offers an alternative solution to interoperability.
3) Drive member satisfaction and engagement
About a third of health plan members are lukewarm about customer support and want more digital features in their health plan services. No matter what a consumer is purchasing, the payment experience is always at the center of the overall experience. Health plans can leverage the epayment platform to build an online premium payments capacity that offers positive payment experiences.
It’s no secret that health plans are behind with employing the latest technologies to address business needs, such as member engagement. Offering the kind of flexible, mobile-optimized payment options that consumers have come to expect can help health plans develop positive relationships with consumers beyond payments.
Optimize Your Epayment Network with Payspan
Payspan leads the market with creative, unique solutions that address your biggest challenges with payments and beyond. We are always evaluating your needs and how we can leverage our network to better meet them. We offer the largest healthcare electronic payment and reimbursement network with 600+ health plans, 1.3 million provider payees and 100+ million consumers.
Learn more about how we can:
- Reduce your administrative costs and labor associated with paper checks
- Give your members what they want – flexible, digital payment options
- Engage your providers with value-based care