Aetna to Enable Faster Payments Between Members and Health Care Providers.-- Company to introduce payment options, including Easy Pay, to speed members' payments for medical services -- HARTFORD, Conn. -- Aetna (NYSE NYSE See: New York Stock Exchange :AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) is building on its transparency initiatives and existing payment solutions with new programs to facilitate members' payments for out-of-pocket costs out-of-pocket costs Managed care Health care costs that a covered person must pay out of pocket–eg, coinsurance, deductibles, etc. See Copayment. to health care providers. The company is working with Medical Funding Services (MFS MFS Medicare fee schedule ) to introduce expanded electronic options to simplify billing and reimbursement. MFS will offer its financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and related electronic payment solutions to network health care providers in select markets. These include an online solution that combines the health plan and patient portions of a medical bill into a single payment to health care providers. Members may see reduced paperwork; health care providers also can benefit from reduced paperwork and faster reimbursement. MFS also offers programs and services to health care providers including patient volume guarantees, prepayments to health care providers of projected claims, and electronic solutions to improve the timeliness of payments. Over the next year, Aetna will work with employers to give members the choice to participate in its Easy Pay program, in which members can automatically pay health care providers though a credit or debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. . The program offers members an electronic option to make it easier to pay for out-of-pocket health care costs. "Aetna recognizes that as consumer responsibility for health care costs increases, so do health care professionals' concerns about payment from members. We believe there are solutions that benefit everyone," said Allen Karp, Aetna vice president for Health Care Delivery. "We are developing programs that make it easier for health care professionals to receive payment, while helping consumers stretch their health care dollars and simplify how they pay their out-of-pocket costs to hospitals and physicians." In the Easy Pay program, members can register their credit or debit card information with MFS, which will handle the transaction on behalf of the member. Aetna members who participate in the Easy Pay automatic payment program may see reduced medical charges. "We are pleased to be working with Aetna toward improving cash flow for health care providers and modernizing the claims payment process for the benefit of health care providers, health plans, and their members," said MFS's Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Tom Morey This article is about the surfer. For the Australian politician, see Tom Morey (politician). Tom Morey (born Detroit, Michigan, August 15, 1935) also known by the moniker "Y" . "Our goal is to deliver measurable value across all of Aetna's relationships through each MFS program." The more informed members are about the true cost of health care and their responsibilities, the better they can anticipate and be prepared to reimburse health care providers for their portion of out-of-pocket costs. Aetna has one of the strongest suites of consumer tools and information in the industry to help its members understand and anticipate the true cost of health care. The company was the first health plan to make physician-specific rates transparent and available to members before they receive care. About Aetna Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 34.9 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or , group life, long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. and disability plans, and medical management capabilities. Our customers include employer groups employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. , individuals, college students, part-time and hourly workers, health plans and government-sponsored plans. www.aetna.com About Medical Funding Services, Inc. Medical Funding Services, Inc. ("MFS") provides financial services and related electronic payment solutions to the health care community. MFS services and programs are designed to provide measurable value to the provider community through cash flow enhancement and reduction in provider administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. . MFS clients include major health care payors as well as hospitals and physicians. MFS has contracted with Aetna to offer its services and programs, including the automatic payment program, to Aetna participating providers. MFS is privately held and based outside Washington, DC. www.medicalfundingservices.com |
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