According to Benefitfocus its e-payment system is designed specifically for insurance carriers and their customers, and features three primary components: electronic invoicing, reconciliation and bill pay. The company went on to say that eBilling saves insurers an estimated $9.50 for every invoice generated, which quickly results in significant ROI.
Insurance carrier Blue Cross and Blue Shield said it expects the new system to completely replace its current paper-based systems.
Since we first partnered with Benefitfocus in 2004 for electronic enrollment, we have enjoyed an excellent and successful relationship, said Roger Foreman, chief marketing officer of Blue Cross and Blue Shield of Kansas City. Recently, BCBSKC achieved 96% adoption with our electronic enrollment technology. We believe that integrating electronic billing will further enhance our competitive edge by adding new e-business solutions for our customers.
