6
Health Insurance Exchange (HIX) Payment Administration Solution

Health Insurance Exchange (HIX) Payment Administration Solution

Embed Size (px)

Citation preview

Health Insurance Exchange (HIX)Payment Administration Solution

Introduction – FIS Benefit Solutions

Company Facts• Division of FIS Global • FIS has signed an agreement to sell the division to

Lightyear Capital; expected to close at the end of 3Q2012• 150+ FTEs• Diverse base of over 530 customers across the

payer, provider, financial, and TPA sectors

• FIS Benefit Solutions is one of the largest, most scalable platform provider of software, services, and card-based technologies for healthcare payments

• The Company has long been viewed as a pioneer in the healthcare payments sector with a suite of solutions that offer substantial value in the areas of:

– Benefits Administration

– Payment Processing

– Multi-Functional Multi-Purse Cards

– Payment Output Solutions `

Benefit Solutions

Industry Leadership and Scale

Market Leadership• #1 CDH technology provider• #2 Outsourced post adjudication payment processor• #2 Health ID card provider

Operational Statistics• $5B+ CDH transactions• 525M+ healthcare transactions processed• 8M issued healthcare payment cards• 1.3M healthcare benefits administration accounts• 500K+ HSA accounts on the banking platform • 100M Health ID cards carried in wallets

Business Model Attributes• Extremely reliable and efficient platform• Highly scalable• Unparalleled accuracy and speed• Secure administration and payment technology

Highly Scalable Single-Source

Platform

Product and Services Overview

Benefit Solutions

• FIS offers products and services in the following broad categories:

a. Health benefits administrationi. Tax-advantaged health

benefitsb. Payment processing solutionsc. Payment output solutionsd. Health ID and multi-purse cards

• These solutions are utilized by industry participants in the following end markets:

−TPAs−Commercial health insurers−Financial institutions−Healthcare providers−Consumers−Employers

A comprehensive suite of benefits administration software that is tightly coupled with industry leading card and

payments technology

Our Focus - Payment Administration

5

• Consumer Engagement / Decision Support• CRM / System of Record• Call Center• Benefits Aggregation• Integration

• Payment Administration

BenSoft

• Enrollment file• Premium invoice

DMS

BillPointe

• Invoice presentment -print & online

• In house print facility

• Premium invoicing file

Remit Manager

• Online payment remittance file

• Physical payment collection, deposit & processing

• Reconcile participant / employer receivable

• Reconcile payer liability• Distribute funds to payers

HIX Functional Attributes

• Online payment acceptance

• Consolidated remittance file

6

Thank you…..

Please feel free to contact me if you would like to learn more

Bill BarbatoStrategy & Product Management – FIS [email protected]