MOUNT PLEASANT, S.C., and LITTLE ROCK, Ark., Oct. 19 /PRNewswire/ -- Arkansas Blue Cross and Blue Shield (ABCBS) has selected Benefitfocus.com, Inc. to provide electronic billing services to its more than 31,500 employer groups, adding to its suite of Benefitfocus enrollment and data exchange services. Initial implementation and roll out of the Benefitfocus(R) eBilling technology will begin by year-end.
“ABCBS made a thorough market study and analyzed all of their options, so we are proud to have been chosen to provide electronic billing and services to their groups. Benefitfocus is excited that ABCBS will be able to cut costs and streamline their billing processes with our eBilling software,” said Shawn Jenkins, President and CEO of Benefitfocus.com. “They have been using our electronic enrollment software, BluesEnroll, for three years, and we have an excellent existing relationship with the carrier and their clients. Arkansas values our full service model and competitive price point.”
By replacing traditional, error-prone paper processes, eBilling saves its insurance carrier partners an estimated $9.50 for every invoice generated, which quickly adds up to a significant return on investment. Benefitfocus(R) eBilling offers the industry’s most comprehensive and dynamic electronic invoice presentment and payment (EIPP) application. Building on its knowledge of the insurance industry, the company developed Benefitfocus(R) eBilling to deliver accurate, timely electronic invoices, resolve billing disputes through automated reconciliation, and securely collect payments online.
With Benefitfocus(R) eBilling, ABCBS is taking steps towards delivering an integrated approach for managing its multiple lines of business. Groups with multiple product offerings across all lines of business will begin receiving a single, consolidated electronic invoice.
“Currently these same groups receive multiple invoices across product lines,” said Jenkins. “Once eBilling is fully deployed, they will receive one consolidated invoice online with email notifications and electronic bill adjustments. Arkansas is committed to leading the market in providing better, faster tools for their customers.”
Groups are particularly excited about the 12-month archive provided by the Benefitfocus(R) eBilling system. Instead of keeping track of adjustments manually, the information can now be kept current in one portal. With a few clicks, group administrators can run reports on whether bill adjustments have been accepted and closed and compare changes of invoices for the past several months. With advanced reporting features, administrators can also run reports and verify premium payments by employee for the previous 12 months.
And because Benefitfocus(R) eBilling integrates seamlessly with BluesEnroll, any adjustments made to an invoice will automatically update the BluesEnroll membership as well so that the two systems stay in sync.
About Benefitfocus.com:
Benefitfocus.com, Inc. (Benefitfocus) is the leading provider of employee benefits software and services. It offers employees and employers secure, online access to benefits and human resource information. Benefitfocus’ suite of products and services includes large and small group electronic enrollment, electronic billing, and data exchange services. It replaces time-consuming, expensive and error-prone paper processes allowing companies to administer all of their benefit offerings through one interface. This one-to-many platform substantially speeds up benefit enrollment and administration while reducing overall costs and greatly improving communication to the employee. For more information, please visit www.benefitfocus.com.
About Arkansas Blue Cross and Blue Shield:
Founded in 1948, Arkansas Blue Cross and Blue Shield, an Independent Licensee of the Blue Cross and Blue Shield Association, is the largest health insurer in Arkansas. Arkansas Blue Cross and its affiliates have more than 2,700 employees and serve approximately one-third of Arkansans. If combined, the 40 independent, locally operated Blue Cross and Blue Shield Plans collectively provide health care coverage for 93 million people -- nearly one- third of all Americans. For more information, visit www.arkansasbluecross.com.
Benefitfocus.com, Inc.
CONTACT: Sarah Moise of Benefitfocus.com, Inc., +1-843-849-7476, ext. 356