MBI Payment Aggregator
As
health care becomes a value-based decision-making process for consumers,
the competitive landscape changes for health plans. Health Plans
need to be innovative and dynamic in the products they offer to
their Members, being mindful of the consumer’s
need for simplicity and tools to navigate the complex health care
landscape. As costs shift to consumers so does control over how
their health care dollars are spent. Providing consumers with simple
means to facilitate that control is what MBI’s Payment Aggregator
is all about.
Payment Aggregator takes a multi-tiered approach to health care bill paying, allowing the health plan to define the plan, employer to define the rules, and the employee to control their dollars.
MBI’s Payment Aggregator verifies the availability of Member funds to pay for the consumers’ health care liability and then pools those funds for the health plan to make a payment to the provider on behalf of the Member.
Some Members may want more control over their available funds, so they can opt of the Payment Aggregator service and make payment to the provider using their debit card once the claim has been adjudicated.
Here’s how it works.
- A claim is submitted to the health plan and the Member liability is determined.
- MBI’s Payment Aggregator determines which accounts are available for reimbursement based upon pre-defined business rules and Member authorizations.
- MBI consolidates those funds and provides to the Health Plan
- The Health Plan then makes payment to the provider, either in conjunction or separately from any Health Plan insurance payment.
- Provider is satisfied as the provider does not need to “chase” the Member for any applicable Member liability.
Source: MBI Bank Inc.