RECONCILER™
Introducing Reconciler™ The Keystone for Consumer-Driven Healthcare
Reconciler™ is a web-based service that provides a transaction bridge between the health plans, TPAs and the financial institution(s). The consumer utilizes the web portal as a single source to view a summarization of their health care purchases, direct how they are financed, and to track the balances and transaction activity for their HSAs, Flexible Spending Accounts (FSAs), Health Reimbursement Accounts (HRAs) and other investment accounts, including mutual funds and 401(k)s. The system provides the TPAs and Health Plans with administrative capabilities plus electronic interchange with financial institutions. HST delivers these services via an ASP model which provides third-party neutrality to eliminate security concerns and the need for costly core system modifications for the health plans, TPAs and financial institutions.
Reconciler™ acts as a central Account Management System giving consumers "single sign-on" access to medical expense activity, health care claims, deductible status, financial payments, adjustments and reports. By enhancing the flow of information and providing real-time integration, health plan providers and financial institutions can maximize productivity, reduce costs, enhance their customer's experience and expedite the adoption of Consumer-Directed Health Care (CDHC) Products. Consumers in turn gain daily access to the status of their healthcare funding accounts, empowering them to make more informed healthcare decisions.
Reconciler™ also provides the financial institutions and the health plans with secure administrative capabilities to establish account linkages and perform electronic funds transfer. By leveraging the capabilities of Reconciler™, they can avoid the cost and security issues associated with maintaining each others information within their respective core systems. The system is architected to include a powerful conversion engine to speed integration with the disparate systems of financial institutions and health plans. Utilizing the interpretative capabilities of the system enables the financial institutions and health plans to operate in a one-to-many configuration without the cost and disruption of building the interfaces themselves.
Reconciler™ is designed to reduce operating expense and expedite the enrollment into an HSA. The system provides the consumer, employer or health plan, with online access to the forms required to open the HDHP and the HSA. The HSA form is automatically propagated with data from the HDHP to eliminate duplicate entry and increase accuracy of the information. The e-signature function of the system allows for the forms to be signed by the consumer electronically. For less sophisticated operations, the forms can be printed, signed and faxed into Reconciler™ which transmits the data and electronic image to the bank and health plan fulfillment systems.
Reconciler™ provides unique reporting features that enable employers and insurance underwriters to gain a better understanding of the economics and performance of the HSA/HDHP product. Because Reconciler™ stores data from multiple sources in one location, the data can be reported in a way that provides a complete picture of the product across the entire spectrum of activity; from the bank to the health plan to the provider. Via Reconciler™, the employer can determine how effective the HSA/HDHP is for their organization and the underwriters can make a better assessment of risk, thus, enabling the employer and insurer to maximize its effectiveness.
Business Process Benefits
- Eliminates costs of separate batch processes and manual interfaces
- Simplifies, speedy access to information via self-service portal
- Provides a single platform and complete integration of information
- Utilizes common standards and business process rules
- Accelerates time to market for new or revised products
- Enables unique customization by payer, bank, employer and product
- Ensures conformity to HIPAA security requirements
Questions?
To discuss how we can help your organization, please contact us:
or
(949) 756-0037
