B of A, PNC Pitch E-Payments to the Health-Care Industry

By Bills, Steve | American Banker, April 29, 2004 | Go to article overview

B of A, PNC Pitch E-Payments to the Health-Care Industry


Bills, Steve, American Banker


Two of the nation's largest cash management banking companies are trying to become leaders in the emerging field of automating health-care payments.

PNC Financial Services Group Inc. has built a remittance system for the Department of Veterans Affairs, the largest integrated health-care provider in the United States. Bank of America Corp. is using FleetBoston Financial Corp.'s technology to develop a network of health-care companies using its electronic invoicing system.

The separate initiatives hold out the promise of automation to transform a fragmented, paper-based process.

Much of the activity is being propelled by the Health Insurance Portability and Accountability Act of 1996, which set electronic transaction standards for doctors, hospitals, insurers, and others in the field of health care. Perhaps most important from a payment perspective is the development of standardized codes, as mandated by the 1996 law, to identify transactions, providers, payers, and employers.

James G. Graham, an executive vice president and the division executive of treasury management at PNC, said it used its extensive experience in health-care payments to win the Veterans Affairs contract.

For most of the past decade, in addition to working with private-sector companies, PNC has provided lockbox services to the Indian Health Service, an arm of the Department of Health and Human Services, Mr. Graham said in an interview this month. "We do a lot of this kind of processing in the health-care space."

In 2002, PNC won a Veterans Affairs contract to automate processing of the 10 million reimbursement claims the department submits annually for veterans' nonservice-related health care.

Under the old process, an insurer paid each claim by mailing a paper check, with the associated explanation of benefits, directly to an individual medical center, where the payment was posted to the accounts receivable system and applied to the center's operating budget.

The new system, which the department began using in October, allows the payer to electronically instruct its bank to send the payment via automated clearing house to PNC, which acts as the lockbox bank. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

B of A, PNC Pitch E-Payments to the Health-Care Industry
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.