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Blue Cross Blue Shield of Massachusetts Selects Benefitfocus for Electronic Billing
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Mount Pleasant, SC and Boston, MA – May 8, 2006 – Blue Cross and Blue Shield of Massachusetts (BCBSMA) has selected Benefitfocus to provide electronic billing to its customers. BCBSMA anticipates reducing costs by replacing its current paper-based processes with Benefitfocus® eBilling, an interactive and efficient electronic billing platform.
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“We selected Benefitfocus because of its experience with other Blue plans and carriers,” said Brett Painchaud, Vice President and Controller for Blue Cross Blue Shield of Massachusetts. “Benefitfocus specializes in serving insurance carriers and their customers and has the experience to handle the complex billing process for our employer groups.”
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“We are proud that Blue Cross Blue Shield of Massachusetts has partnered with Benefitfocus, entrusting their groups to our state-of-the-art software,” said Shawn Jenkins, President and CEO of Benefitfocus “Currently our client list of Blue plans insures more than 21.5 million members. Adding BCBSMA as a client further extends our market leadership and reinforces our position in the Northeast.”
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BCBSMA was especially interested in managing its accounts receivable data, offered as part of the Benefitfocus® eBilling Workbench. The tool allows a client’s billing representatives to better manage their accounts, giving a snapshot of groups with outstanding balances or whose payments are past due. The same tool allows insurance companies to create past due statements that can be created as a PDF and emailed to the client. BCBSMA will be able to do an in-depth analysis of all of its data and view its groups’ financial information in a customized format with this implementation.
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Benefitfocus® eBilling is the industry’s most comprehensive and dynamic electronic invoice presentment and payment (EIPP) application. Designed specifically for insurance carriers and their customers, eBilling features three primary components: electronic invoicing, reconciliation and bill pay. Combining robust capabilities with a simple, intuitive interface, the application streamlines processes and improves cash flow.
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About Benefitfocus
Benefitfocus.com, Inc. (Benefitfocus) is the leading provider of employee benefits software and services. It offers employees and employers secure, online access to benefits and human resource information. Benefitfocus’ suite of products and services includes large and small group electronic enrollment, electronic billing, and data exchange services. It replaces time-consuming, expensive and error-prone paper processes allowing companies to administer all of their benefit offerings through one interface. This one-to-many platform substantially speeds up benefit enrollment and administration while reducing overall costs and greatly improving communication to the employee.
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About Blue Cross Blue Shield of Massachusetts
Blue Cross Blue Shield of Massachusetts was founded 68 years ago by a group of community-minded business leaders. Today, headquartered in Boston, BCBSMA provides coverage to 2.9 million members. Consistently recognized for standards of service that are among the highest in the nation, Blue Cross Blue Shield of Massachusetts is the choice for health care consumers seeking reliable and high quality health care coverage. BCBSMA received the 2006 Innovation in Health Information Technology Award for its e-health programs from the America’s Health Insurance Plans (AHIP) Foundation. Blue Cross Blue Shield of Massachusetts is an independent licensee of the Blue Cross Blue Shield Association.
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