HealthcarePays, an industry-owned “payment network” designed to cut healthcare costs, has signed an agreement with OneMind Health (previously MDE) to provide electronic remittance advice (ERA) and electronic funds transfer (EFT) reconciliations to dental offices on behalf of dental insurance carriers.
HCP employs an industry-owned network for healthcare payment authorization and processing that is proprietary, standardized and compliant with the Affordable Care Act (ACA) and all state and federal laws. Employers, healthcare and dental providers, and insurance companies are joining HCP to combat waste and fraud, create efficiencies for healthcare payment processing and access industry-wide data cube analytics.
“Dental providers are expressing frustration that they are spending too much time and resources processing paper claims and payments. This agreement with OneMind solves those challenges for dental offices throughout Virginia,” said HealthcarePays chief executive officer Dave Adams. “Now dental providers can use the HCP network to convert paper into standardized ERAs and match with payments – electronically and quickly. They get paid faster and spend less time on administrative tasks and more time with patients.”
The collaboration between the two companies will enable dental providers to experience a new level of efficiency and transparency with tools that trace claims through the system, as well as the ability to link up to electronic payments, and access robust payment reports. This turnkey collaboration will present a simple, standardized solution across all insurance carries for the dental industry. Many dental providers have hesitated to accept electronic remittance and electronic payments, as timing is not often coordinated effectively. Through this partnership, dental providers will be able to simplify workflows and improve their cash management efforts.
“HealthcarePays allows our dental office customers to quickly and securely process ERAs and EFTs via a national network that provides payment transparency throughout the process and helps free them from tedious paper transactions and matching payments with ERAs,” said OneMind Health chief executive officer Richard Moore. “Our collaboration with HCP brings even greater value to dental offices using the OM Dental Suite.”
HCP interacts with all existing healthcare industry organizations including employers, hospital systems, physician groups, providers, insurance companies, government payers such as Medicaid and Medicare, intermediaries, clearinghouses and banks.
OneMind Health (previously MDE) recognizes the challenges of managing dental practice revenue. Collaborating with industry experts, OneMind Health has identified the specific challenges dental practices face and applied that knowledge to develop a better way for dental practices of all sizes to improve workflow, streamline eligibility and claims processes, and interact more easily with patients and other professionals.