Alegeus Technologies Announces Exclusive Partnership with CoPatient to Enable Account Participants to Save Money through Medical Bill Review and Consumer Advocacy Services
Published on May 6th, 2015
Alegeus Technologies, the market leader in consumer directed healthcare solutions, today announced an innovative new card-based reimbursement method for processing of consumer directed healthcare (CDH) claims. An alternative to physical checks or direct deposit reimbursement, card-based reimbursement enables administrators – like Medcom, National Benefit Services, and American Benefit Group – to increase consumer convenience, speed reimbursements, and reduce administrator costs when processing manual claims.
The U.S. healthcare system is shifting towards individual responsibility for healthcare costs – causing a rapid increase in consumer out-of-pocket healthcare responsibilities. However, recent Alegeus research has affirmed that consumer comfort and fluency regarding healthcare costs, coverage, and billing is still very low. Only 37% of consumers feel that medical bills are easy to understand – and, when paying for medical expenses, less than half of consumers are confident that they are paying the right amount.
CoPatient works with consumers to scrutinize bills and negotiate savings on healthcare expenses. More than 80% of healthcare bills that CoPatient reviews contain billing or coding errors. Through proprietary technology and direct negotiation with healthcare providers, CoPatient is frequently able secure consumer savings – saving consumers an average of 40% through bill corrections and adjustments.
The process is simple:
- Submit medical bills through a variety of convenient methods
- Consumer advocates will analyze bill & report savings opportunities
- When saving opportunities are identified, consumer advocates will negotiate on consumers’ behalf to secure the savings
- There is no fee if no savings are secured; if savings are realized, consumers pay a fee based on percentage of savings
With consumer healthcare liabilities rapidly increasing, consumers need better tools and support to ensure that they are optimizing their healthcare spending and maximizing their healthcare savings. Many consumers lack the fluency to sufficiently scrutinize healthcare expenses and advocate on their own behalf,” said John Park, Chief Strategy Officer at Alegeus. “Advocacy services, such as those that CoPatient provides, give consumers tools to play a more active role in their healthcare – breaking the cycle of passive ‘auto-payment’ of healthcare expenses.
We are excited about this partnership with Alegeus,” said Rebecca Palm, co-founder of CoPatient. “With a shared mission of helping consumers maximize the value of their healthcare dollars, we can join forces to help protect consumers from errors or other inappropriate charges on their healthcare bills – providing tangible savings.
CoPatient’s mission is to become the consumer’s trusted advisor for managing and minimizing healthcare expenses. CoPatient uses crowd-sourced data and a technology driven solution to identify billing errors and overcharges. By providing a personal Patient Advocate, CoPatient will help patients correct mistakes and start saving money right away.
Phone: (888) 702-2330.
With more than 25 years of growth and innovation, Alegeus is the market leader in SaaS-based healthcare payment solutions. Our highly flexible, white-label platform powers account-based benefit programs such as HSAs, FSAs, HRAs, COBRA, wellness incentives, lifestyle benefits and beyond. We deliver exceptional user experiences and differentiated capabilities that help our partners strengthen their product offerings, operate more efficiently, and unlock their full growth potential. Our partnerships with the industry’s leading health plans, third-party administrators, financial services and benefit solution providers give Alegeus unparalleled reach in the market. And our unique partnership model empowers our clients to achieve outsized results – growing their programs at a rate that is 2-3X the market, and with the highest net promoter scores (NPS) in the industry. We never compete with our clients – we win when they win. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce.