[February 02, 2016] |
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Deluxe Partners with Rete+Pay to Streamline Medical Payment Process
Deluxe Corporation today announced a partnership with Rete+Pay, a
leading payment platform specializing in third-party medical insurance
administration. This new venture adapts Deluxe's eChecks solution to the
Rete+Pay platform for faster, more secure payments to medical care
providers while simultaneously delivering the payment and remittance
information in the form of an integrated Explanation of Benefits (EOB).
Rete+Pay facilitates the payment of medical claims between insurance
companies, patients and health care providers. In processing millions of
transactions a year, Rete+Pay already delivers innovations to its
clients that save claim and administrative costs for patients, insurers
and medical providers alike. With the implementation of the Deluxe
eCheck technology, Rete+Pay is creating an even more cost effective
method for insurance payments.
"By partnering with Deluxe, we are further streamlining the payment
system and simplifying accounting practices for health care providers,
allowing them to spend more time where they are needed - caring for
patients," explained Kim Darling, founder and president of Rete+Pay.
While the US has long been a leader in medical procedure advancements
and technology, medical insurance payment systems can often pose
challenges for the parties involved, requiring fax numbers, monetary
exchanges and credit cards. Further, because in many cases the EOB
information doesn't accompany the payment, physician offices are left to
take extra steps to align payment with paperwork.
Integrating Deluxe's eCheck technology into the innovative Rete+Pay
network improves the overall process and reduces costs for health care
providers. Once the nsurance company processes the claim, an eCheck and
associated EOB is sent to the provider. Unlike other payment systems,
the eCheck allows the provider to receive payment and deposit it in any
bank account without revealing account information.
"We believe this application of our eCheck technology platform will
create a game-changer in the health care payment market," explained
Malcolm McRoberts, senior vice president of Small Business Services for
Deluxe. "There are literally thousands of offices and clinics around the
country, and every one of them is burdened with the administrative costs
and added complexity of deciphering payments and benefits from dozens of
insurance carriers. Now, in one simple and quick process, they will
receive their payment and benefit information - together."
Using the Deluxe eCheck technology to process payments reduces costs on
average by 50 percent, savings that can be passed on to the health care
consumer. As the cost of health care continues to rise, the ability to
remove costs from the payment system will benefit patients and
corporations that provide health insurance to their employees.
Working with Rete+Pay, Deluxe has enhanced its eCheck system to
integrate the Explanation of Benefits with the eCheck. This enables the
provider to immediately apply the payment to the services rendered.
About Deluxe Deluxe is a growth engine for small businesses
and financial institutions. 4.5 million small business customers utilize
Deluxe's service and product solutions, including website development
and hosting, email marketing, social media, search engine optimization
and logo design, in addition to our industry-leading checks and forms
offerings. Deluxe serves approximately 5,100 financial institutions with
a diverse portfolio of financial technology solutions that enable them
to grow revenue and manage their customers' throughout their lifecycle,
including our best-in-class check program solutions. Deluxe is also a
leading provider of checks and accessories sold directly to consumers.
For more information, visit us at www.deluxe.com,
www.facebook.com/deluxecorp
or www.twitter.com/deluxecorp.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160202006447/en/
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