OptumHealth Financial Services Expands Electronic Payment Solution to Dental Industry...
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OptumHealth Financial Services Expands Electronic Payment Solution to Dental Industry to Reduce Costs, Improve Efficiency
Expansion Has Potential to Reduce Administrative Costs by More
Than $100 Million a Year
MINNETONKA, Minn.--(Business Wire)--
OptumHealth Financial Services announced today that it has
expanded its OptumHealth Electronic Payment and Statements solution to
the dental industry to help improve efficiency and reduce
administrative costs.
OptumHealth Electronic Payments and Statements allows dentists and
dental plans to conduct claims payment transactions and receive
remittance advice electronically, doing away with the inefficient and
expensive use of paper, printing and postage associated with the
current claims settlement process.
Dental providers and insurers process almost 275 million claims a
year using paper methods. OptumHealth Electronic Payments and
Statements has the potential to save more than $100 million a year in
administrative costs, according to OptumHealth estimates.
OptumHealth Electronic Payments and Statements is already used by
more than 350,000 medical care providers - more than anyone else in
the industry. It is one of the only products that combine electronic
funds transfer and electronic remittance advice to provide a one-stop
destination for electronic reconciliation and payment transactions.
"Bringing this capability to the dental industry helps streamline
and simplify health-care finance for everyone in the system -
individuals, employers, dental plans and dental care providers," said
Chad Wilkins, chief executive officer of OptumHealth Financial
Services.
June Herman, the office manager for Mid-Nassau Pediatrics LLC in
Westbury, N.Y., has been using OptumHealth Electronic Payments and
Statements for more than a year to save time and receive payments more
quickly.
"We have two doctors, we're open six days a week, and they see 70
patients a day, so on many days we have 140 patients coming through,"
said Herman. "If there's one less thing for me to think about, I
welcome it. I find OptumHealth Electronic Payments and Statements to
be very easy to use, and very convenient."
While the cost savings are paramount, there are also significant
environmental benefits to eliminating paper billing, printing and
mailing, Wilkins added. Based on an analysis conducted by OptumHealth
Financial Services, if all dental payers in the United States went
electronic, it would save two million pounds of paper and 24,000 trees
of forest annually.
OptumHealth Financial Services is a business unit of Golden
Valley, Minn-based OptumHealth, a consumer solutions company that
makes the health care system easier to navigate and helps people live
life to the fullest. OptumHealth Financial Services includes
OptumHealth Bank, Member FDIC, one of the largest administrators of
health savings accounts (HSAs) in the country, and Administration
Resources Corp., a leading third-party benefits administrator.
About OptumHealth
OptumHealth helps individuals navigate the health care system,
finance their health care needs and achieve their health and
well-being goals. The company's personalized health advocacy and
engagement programs tap a unique combination of capabilities that
encompass care solutions, behavioral solutions, specialty benefits and
financial services. Serving more than 61 million people, OptumHealth
is the nation's largest health and wellness company. It is a business
unit of UnitedHealth Group (NYSE:UNH). More information about
OptumHealth can be found at www.OptumHealth.com.
OptumHealth Financial Services
Brad Lotterman
Manager, External Communications
714-445-0453
brad.lotterman@optumhealth.com
Copyright Business Wire 2008
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