Automated Billing & Payments

As an industry that had been dominated by B2B business from employers, the large shifts to B2C marketplace brought upon by ACA have forced the healthcare industry to engage in technologies and digital strategies that enable Insurers to engage a direct consumer. Dramatic increases in direct-to-consumer retail plans purchased on health exchanges and increasing patient responsibility make it more important than ever for healthcare organizations to give customers convenient, easy-to-use, and secure payment options. The growth in the individual market brings with it, several challenges that need to be tackled by healthcare payers. The ability for payers to provide flexible and automated billing solutions to this growing market segment is one such challenge. Exacerbating these challenges are:

Exacerbating these challenges are:

Virtusa’ s enterprise Automated Billing platform

Virtusa's automated Billing and payments platform provides the feature-rich, customer-centered bill payment options you need and that your customers want. Our comprehensive feature set serves healthcare providers and insurers alike – ensuring that patient care is paid and premiums collected.

Features of the enterprise Automated Billing platform

  • Automated Billing framework that provides positive impact across finance, organizational revenue management, operations and customer service
  • Financial and Compliance Reporting customized for regulatory requirements and support the ability to effectively manage open receivables and payables.
  • Portal Payment capabilities that reduce administrative overhead, drive out process redundancies, reduce payment delays, and enable organizations to handle subsidized payments or credits, and manage dual payment processing online.
  • Claim Payment solution that provides end to end payment capabilities that include paper and electronic payments, positive pay, encashment, and payment reporting.

Value delivered through the enterprise Automated Billing platform

  • Greater ability to meet compliance requirements and drive service strategies through information provided by cost and revenue analyses as well as analyses based on preconfigured HIX content
  • Ability to accept eligibility files from the Federal Facilitated Market Place (FFM), or state sponsored Exchanges.
  • Ability to accept and utilize subsidy amounts and payments from FFM
  • Able to provide required FFM status updates containing details about disenrollment and payment delinquencies