PayPilot® and its transaction pricing model make outbound payment processing frictionless
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Tags: payment processing, ACH, issue payments electronically, bank agnostic, disbursement workflow, cost savings, lifecycle of existing systems, add-on components, disbursement hub, Outbound Payment Processing, disbursements, make the process better, changes to process, flexibility, cost of issuing a paper check, improve process, paper, approvals, bulking, issuing payments, electronic remittance, Positive Pay, Payee Positive Pay, card payments, bank account information, issue payments to the one-off payees, bank account info, originating systems, methods of payment, ancillary processing, control, issuing outbound payments, new payment methods, payments by cards, disbursement processes, issue claim payments, issue payments, claim payments, checks, MICR checks, reconciliation, transaction, claim settlements, enterprise-wide middleware, payment disbursement hub, insurance claims processing, claims processing improvement, lower cost of processing claims, reduce cost of processing claims, insurance industry trends, PayPilot, electronic payment, Catastrophic Events, CATs
Many large businesses have decided to utilize a self-funded health insurance plan, administered through Administrative Services Only (ASO) from a health insurance carrier, to cover the medical expenses of their employees. ASO plans help businesses control cost, offer flexibility and retain employees.
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Reason # 1 – Increase Profit by Providing Better Customer Experience and Satisfaction
With changing times, customers’ needs also evolve. Not only do the customers search for new insurance products, but they also look for new, better experiences with their insurance companies. These days, the customer’s loyalty directly depends on excellent customer service provided on the consistent basis. Sadly, the basic thing that customers expect from their insurers – open communication – is often unachievable. Another thing that is very desirable for customers is mobility and speed. Not surprisingly, the claims are in the center of those needs and the way how each claim is handled can make or break the relationship with the insurer.
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