Property & Casualty Payers Need to Prepare for Upcoming 2014 HHS Requirements for Health Plans to Offer EFT Capabilities
LAS VEGAS, Feb. 21, 2012 /PRNewswire/ -- Jopari Solutions, a principal supplier of integrated medical transaction EDI services to the Property and Casualty Industry, is advising P&C payers that the Patient Protection and Affordable Care Act (PPACA) will raise the bar for P&C industry payment transactions. Payers need to be prepared for the proposed HHS rules coming on line in 2014 that require health plans to offer EFT capabilities.
A key aspect of the PPACA is to emphasize the need for Administrative Simplification in healthcare delivery systems. Use of technology to reduce the estimated $53 billion in cost inefficiencies caused by continued use of paper processes has to be an absolute priority for payers of all types. According to Jopari, although the Property and Casualty industry is not presently a Covered Entity under HIPAA rules, the reality is that a significant percentage of the industry's overall claim administration inefficiencies are due to billing and reimbursement processes in Workers' Compensation, Auto Medical and other coverages.
J.R. "Steve" Stevens, CEO of Jopari, explained, "The use of eBilling, ePayment and eReimbursement technologies by P&C companies is quickly gaining traction at the Executive level as well as in Claims operations, both of which are searching for technology to continually improve operating costs. The Group Health industry for years has embraced improvements, such as EDI clearinghouses and EFT, that streamline processing – even though those technologies have not been fully deployed."
"The PPACA raises the bar to expect full utilization," continued Mr. Stevens, "and the P&C world cannot continue to be the 'exception' to the mainstream. Numerous states are authoring mandates requiring P&C companies to also utilize technology streamlining medical billing; and in conjunction with the proposed 2014 HHS mandate on use of EFT, we expect upcoming jurisdictional rules will include these same payment requirements."
"Jopari has a growing a number of payers already implementing EFT options and online portals enabling providers to check reimbursement status and obtain copies of supporting explanations. These tools eliminate enormous volumes of paper flowing back and forth. While transaction cost reduction and improved efficiencies are driving adoption, getting fully prepared to assimilate the 2014 HHS requirements for use of EFT is strategically important, as well."
Concluded Mr. Stevens: "Our customers include P&C as well as Group Health payers, and with the major new emphasis on electronic transactions by national organizations such as the American Medical Association (AMA) in their "Heal the Claim" campaign, use of technology supporting P&C medical bill and payment automation has to viewed not just as a 'must do' but truly as a better way of doing business. The dollar savings at stake are enormous."
Jopari offers a full suite of capabilities for providers and payers to meet eBilling compliance requirements, in addition to the ability to streamline payments and deploy portals featuring robust tools for the management of reimbursement information.
Jopari Solutions, Inc. is a SAS 70 Type II certified technology products company supplying integrated eBill compliance and payment solutions to workers' compensation, auto medical and healthcare payers and providers. Jopari has established an extensive connectivity network directly with providers, practice management systems and clearinghouses, and offers innovative solutions to assist with the management of attachments. Jopari significantly enhances payers' ability to manage medical bills and disbursements, allowing significant reductions in associated expenses as well as full compliance with applicable federal rules and jurisdiction eBill / ePay regulatory requirements. For more information, please visit us at www.jopari.com, email [email protected], or call 800.903.7799 ext 5213.
SOURCE Jopari Solutions, Inc.