Increase ERA/EFT Transaction Adoption – Guaranteed
Payers who use the InstaMed Claims Settlement solution to deliver all of their provider payments are guaranteed an ERA/EFT transaction adoption rate of at least 80% within the first 12 months of go-live.
The benefits of delivering 80+% ERA/EFT transactions through InstaMed:
- Decrease print and mail costs
- Eliminate or significantly reduce staff time allocated to managing multiple systems and processes for claim payments
- Meet provider demands for compliant ERA/EFT transactions that fit into their existing workflow
- Achieve CAQH CORE Phase III and NACHA compliance immediately
Full-Service Support and Monitoring
Proven Provider Adoption Program:
- In-house team of InstaMed provider adoption experts devoted to making enrollment simple and easy for providers
- Ongoing, multichannel marketing with custom-made materials to help providers enroll for electronic payments
Fraud and Data Breach Prevention:
- Focus on KYC to protect health plans against the risk of fraud and money laundering
- The only regulated financial entity and clearinghouse
Daily Monitoring and Reconciliation:
- Visibility into every step of moving money
- 24/7 access to payment details and remittances
Proven Success With InstaMed and Geisinger Health Plan
“Within three months of launching InstaMed to our providers, more than 60% of our transactions were delivered through ERA/EFT. The InstaMed team worked with us to increase adoption of ERA/EFT using numerous provider communications across many channels. We have received positive feedback from providers about their experience with InstaMed.”
- Bob Hough, Director of Accounting Operations at Geisinger Health Plan.M
Leverage the InstaMed Network
The InstaMed Network connects over two-thirds of the healthcare market. Once a healthcare provider is registered on the InstaMed Network, they can receive Integrated ERA/EFT® transactions from every payer using the InstaMed Claims Settlement solution. By using the InstaMed Claims Settlement solution, payers immediately connect to the InstaMed Network.
InstaMed registers new providers on the InstaMed Network every day through its ongoing Provider Adoption Program. The Provider Adoption Program utilizes multiple outreach channels to encourage providers to enroll for electronic payments. InstaMed manages all aspects of the Provider Adoption Program so there is little-to-no impact on the payer’s resources. As a result of the InstaMed Network, InstaMed’s payer customers have realized ERA/EFT transaction adoption rates significantly higher than industry averages.
Give Your Providers the Best Experience
- Easy registration — Online or paper form based on the provider preference
- Completely free — No hidden costs for providers
- Integrated ERA/EFT transactions — Enable straight-through processing, including reassociation, automated posting and reconciliation for providers
- Free online portal — 24/7 access to view and print remittances plus robust summary and detail reporting
- Healthcare IT system integration — InstaMed supports heterogeneous integration with healthcare IT systems for organizations of all sizes with varying levels of system complexity
- Clearinghouse routing — Ability for providers to route ERAs to their existing clearinghouses so there is no change to providers workflow
Meet the Highest Levels of Security and Compliance
The InstaMed platform processes tens of billions of dollars in healthcare payments annually and is the first and only organization that is independently certified at the highest levels for both healthcare and payment transactions.