CSC has launched its Premium Billing 360º solution. The offering claims to enable health plans to meet health care reform requirements while keeping pace with new products and managing revenue. The product is designed to automate billing and create more self-service interactions for health care consumers including electronic billing and payments.
The offering is consistent with the recommendations of industry analysts on where health care administration is heading. According to Gartner, “Electronic Bill Presentment and Payment (EBPP) systems have garnered much interest among large and small health care insurers during the past couple of years as employer groups and individuals look for the ability to pay their premiums electronically.” Moreover, “health insurers should phase in all the components of EBPP systems — electronic invoice, invoice reconciliation, payment processing, cash management and analytics. Consider each of the components as “must have” capabilities to realize the full cost-saving potential.”
CSC claims that the software will allow health care billing and administration meet these needs while staying in-line with federal health care reporting requirements outlined in the new health care reform law. The software consolidates all data from every billing and revenue management process into a single workflow that provides internal reports as well as an external payments option for consumers.