NAB's health payments subsidiary live with eFunds reconciliation system
eFunds International Limited, a leading provider of electronic payments, risk management, ATM and global outsourcing solutions, today announced that one of its electronic payments solutions has been successfully implemented by HICAPS, a subsidiary of the National Australia Bank.
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The solution enhances the already highly successful HICAPS service by giving ancillary health providers and health funds consolidated value settlement, statements and transaction query and reconciliation capabilities online.
The enhanced HICAPS system has been rolled out to 17 health funds, and benefits around 19,000 health providers nationally. The all-in-one solution significantly reduces the costs of administration and management for both health care providers and health funds as Administrators can now view, change and maintain information about their funding online.
"The maze of reconciliation and settlement was a clear issue for our customers that needed to be correctly addressed," said Greg Millane, CEO of HICAPS. "Health service providers were receiving upward of 20 different deposits to their bank account and statements from the various health funds.
This then translated into large allocations of time for reconciliation. By working with eFunds we were able to develop a solution that enables providers to reconcile their health fund payments quickly and cheaply via the Internet."
For HICAPS, offering the value-added system meant significantly improving customer satisfaction. "The eFunds solution offered HICAPS a flexible, cost-effective mechanism for meeting our requirements," said Millane. "Our specific technical requirements required a highly configurable system, and it needed to integrate into existing health fund and banking systems."
The solution is built on eFunds high performance secure e-commerce transaction server technology integrated to National Australia Bank's CONNEX EFT Switching solution (also provided by eFunds). User access rights are controlled by practice and fund Administrators allowing them to determine who has access to both functions and information. "The core solution delivered by eFunds is extremely configurable and when combined with the inherent capabilities of eFunds transaction server technology, provides HICAPS with a highly scalable and flexible solution for the future," said Mark Evans, Southern Region Manager of eFunds International.
The eFunds transaction server was originally developed by Australian software company Webpay. In January 2004 eFunds acquired the existing products and related intellectual property of Webpay.