Excellus BCBS, headquartered in Rochester, NY, is part of a $6.6 billion family of companies that finances and delivers healthcare services across upstate New York and long-term care insurance nationwide. Collectively, the enterprise delivers health insurance to nearly 1.5 million members.
"The InstaMed Provider Adoption Program has enabled us to deliver ERA/EFT to providers who were previously reluctant to adopt. That makes the gains even more impressive. We are finally seeing cost savings and efficiency improvements we expected to achieve with electronic transactions. Plus, our providers have been very happy with the ease of use of the InstaMed Platform."
THE CHALLENGE
Ten years after launching ERA/EFT in 2006, Excellus BCBS was delivering just 22 percent of transaction volume as ERA/EFT, and provider adoption of ERA/EFT was stagnant.
OUR SOLUTION
Excellus BCBS partnered with InstaMed to deliver Integrated ERA/EFT® transactions, launch the full-service Provider Adoption Program and connect to the InstaMed Network of healthcare providers. RESULTS WITH INSTAMED
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Increase in ERA/EFT transaction volume in the first six months after go-live with InstaMed
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145% |
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Amount of provider payment transactions delivered via ERA/EFT in less than a year
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+50% |
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Cost savings in the first year of launch
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+400k |