Provider Solutions

Rete+Pay is changing the way payers communicate and pay medical providers. We understand providers find it increasingly difficult to manage the time and costs involved in claims submission, re-processing, and payment reconciliation. Approximately 60% of providers still manage claims manually, which is costly and time-consuming. It is estimated to add $17.00 per clean claim and almost twice that, should a claim require resubmission3 (as represented in the graphic).

Those manual inefficiencies have a significant impact to your cash flow and revenue cycle, in addition to the quality of your patient care:

  • 69% of physicians report cash flow problems due to slow payment, non-payment, or underpayment of claims by insurers or government payers4
  • 63% of physicians said that paperwork has caused them to spend less time per patient5

Rete+Pay Prepaid Mastercard Virtual Card capability allows you to utilize your POS (point-of-service) merchant card terminal, which becomes the conduit for claims reimbursement. Once the payer has adjudicated your claim for payment, a unique 16-digit PAN (Primary Account Number), the virtual card number, is sent by Rete+Pay on behalf of the payer to the provider by secure PCI Compliant Fax or U.S.P.S mail along with your Remittance Advice. You will simply key the card number into your POS terminal and the payment is deposited directly into your merchant account and thus, your bank account.

Virtual Card Benefits to Providers

  • Virtual Card payments are received up to 14 days faster than check payments, improving cash flow and revenue cycle management
  • Receiving integrated payment and remittance advice saves valuable staff time reconciling and depositing standard checks and EOBs
  • With payments deposited directly into the provider’s bank account, your front-office administrative burden is reduced
  • A single-use card with a new unique PAN is issued for each payment, which may eliminate card fraud
  • Card authorization is restricted to healthcare MCC (Merchant Category Code) transactions which may eliminate fraud if payment goes into the wrong hands
  • You bank account information is not shared with others, as it is with ACH/EFT payments
  • Eliminates lost and stolen checks and follow up with payers to void and re-issue new payments.
  • 24/7 Secure Online Provider Portal to manage your current and historical payments and remittance advice from multiple payers –all in one place
  • Provider Relations Customer Service support weekdays from 6:00AM to 5:00PM PST

Other Electronic Payment Methods for Providers

  • ACH / EFT Payment - with Standard Remittance Advice or X12 835 ERA (Electronic Remittance Advice) delivered via your healthcare EDI clearinghouse
  • Electronic Check ‘eCheck’ – with Standard Remittance Advice delivered via online secure portal and email notification to the provider, eliminating the U.S.P.S. mailing time
  • Printed Check by U.S.P.S. Mail – with Standard Remittance Advice is available for providers that do not have computer or internet access

Virtual Card and Printed Check Payments are available from all payers. Additional electronic payment methods are available by select payers that utilize the specific payment solutions.