Note: This product does not use AI.
Automated claims posting
Our STP solution automates provider payment and remittance posting, reducing the time and effort required for manual payment processing and reconciliation, ensuring that payments are accepted quickly and accurately.
Improved efficiency
By eliminating manual tasks and streamlining payment processes, STP enhances overall operational efficiency, allowing providers to focus on delivering high-quality care to their patients.
Reduced processing time
Our STP solution reduces payment processing times, allowing providers to receive payments faster, improving cash flow helping health care organizations manage their finances more effectively.
Q: How does Straight Through Processing (STP) save providers time and money?
A: STP automates the payment process, allowing providers to receive virtual payments and receivables directly into their revenue management systems. This reduces the need for manual processing, cuts down on staffing requirements and minimizes friction, ultimately saving time and money.
Q: What advantages does the STP solution provide to payers?
A: STP increases adoption of virtual cards to offset payment disbursement costs; it reduces print and mail costs; and it delivers payments faster and more securely, reducing fraud risk.
Q: What advantages does STP provide to consumers?
A: It provides next day secure delivery of payment to provider; and it ensures the payment is accurately posted against the outstanding patient balance.
Q: How does STP simplify and improve administrative processes for providers?
A: By auto-posting payments and remittances, STP significantly reduces time and staff required to process and post payment and remittance details.
This enables providers to free up staff to spend more time on other critical activities; providers receive payments faster.
This improvement in cash flow helps provider organizations manage their finances more effectively.
Q: What are the key features of your STP solution?
A: The key features are:
- Maximizes payment disbursement via virtual card through STP networks.
- Optum has strategic partnerships with merchant processors.
- Common API for easy integration with merchants/RCM vendors.
- Gives providers flexibility to determine if they want to accept consumer to provider, business to consumer or both payment types via STP depending on needs and cost considerations
- Automates acceptance, settlement and posting of virtual cards for C2B and B2B claims payments.
- Creates value for payees by automating processes, accelerating payment and reducing friction in card acceptance.
Q: Can your STP solution be integrated with existing systems?
A: Yes, our STP solution is designed to integrate seamlessly with existing systems, ensuring a smooth transition and minimal disruption to current operations.
Q: What support is available for implementing your STP solution?
A: We offer comprehensive support for implementing our STP solution, including setup assistance and ongoing technical support to ensure successful adoption and operation.
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