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PHOENIX--(BUSINESS WIRE)--Oct 20, 2022--
Banner|Aetna, a joint venture health plan owned by Banner Health and Aetna/CVS Health, has unveiled an all-in-one frictionless billing program, designed to improve the patient payment experience by reducing billing confusion for members who receive care from most Banner Health doctors and facilities. This innovative effort is significant given health care consumers are often confused by their medical bills and understanding how to reconcile with their plan coverage.
A joint effort between Banner|Aetna and Banner Health, frictionless billing provides an integrated statement online or in print that includes billing information from care providers along with coverage and payment information from the insurer. As a result, the member can see what was billed by the provider, what the member already paid (if applicable), what insurance covered and what is still owed. The statement serves as the single source of truth so members can quickly review all the information and then pay their balance owed.
Other components of the program include automated billing and claim payment status updates for members as their bill makes it through the bill creation, submission and payment process, as well as a dedicated customer service line to assist Banner|Aetna members who still have questions. Whether it is an insurance or provider-related billing question, members can get their questions answered easily in a single phone call.
“Recovering from a recent illness or hospital stay is challenging enough without the added stress and confusion related to understanding medical bills. That’s why we decided to create a solution that captures all the information patients need in one document, provides a simple status tracker, and provides dedicated customer support for both insurance and provider billing inquiries,” said Joanne Mizell, Banner|Aetna’s chief operating officer.
Mizell added that while other health insurers and health care providers have been trying to address billing confusion, these efforts have been more difficult because these entities don’t have the same operational and financial alignment. Banner|Aetna is uniquely positioned to do so because of its joint venture structure, which brings together the people who provide care with those who help patients pay for it.
“In our joint venture model, both insurer and provider have a vested interest in working together,” said Mizell. “In addition, all parties care deeply about members having a positive experience throughout the entire health care treatment cycle. As a joint venture, we have the benefit of complete transparency with our parent companies around data and information, which made it possible to effectively collaborate to develop frictionless billing.”
About Banner|Aetna
Banner|Aetna is a health insurance company focusing on bettering member outcomes at a lower cost, all while improving the overall member experience for employers and consumers in Arizona. The collaboration combines Banner Health’s high-quality, local providers and delivery systems with Aetna’s health-plan experience, care management and health information technology. Banner|Aetna is the brand name used for products and services provided by Banner Health and Aetna Health Insurance Company and Banner Health and Aetna Health Plan Inc. For more information about Banner|Aetna, visit banneraetna.com.
About Banner Health
Banner Health is one of the largest, secular nonprofit health care systems in the country. In addition to 30 acute-care hospitals, Banner also operates an academic medicine division, Banner – University Medicine, and Banner MD Anderson Cancer Center, a partnership with one of the world’s leading cancer programs, MD Anderson Cancer Center. Banner’s array of services includes a health insurance division, employed physician groups, outpatient surgery centers, urgent care locations, home care and hospice services, retail pharmacies, stand-alone imaging centers, physical therapy and rehabilitation, behavioral health services, a research division and a nursing registry. To make health care easier, 100% of Banner-employed doctors are available for virtual visits, and Banner operates a free 24/7 nurse line for health questions or concerns. Patients may also reserve spots at Banner Urgent Care locations and can book appointments online with many Banner-employed doctors. Headquartered in Arizona, Banner Health also has locations in California, Colorado, Nebraska, Nevada and Wyoming. For more information, visit bannerhealth.com.
About CVS Health
CVS Health is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. Wherever and whenever people need us, we help them with their health whether that's managing chronic diseases, staying compliant with their medications or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system and their personal health care by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Follow @CVSHealth on social media.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221020005256/en/
CONTACT: Sarah McLeod
Activate Health
smcleod@activatehealth.com
480.352.1044
KEYWORD: ARIZONA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PRACTICE MANAGEMENT TECHNOLOGY PROFESSIONAL SERVICES MANAGED CARE HEALTH PAYMENTS HEALTH INSURANCE HOSPITALS FINTECH INSURANCE FINANCE
SOURCE: Banner|Aetna
Copyright Business Wire 2022.
PUB: 10/20/2022 08:38 AM/DISC: 10/20/2022 08:38 AM
http://www.businesswire.com/news/home/20221020005256/en