Plano, TX, May 5, 2017– WLT Software, a provider of automated benefits administration solutions, reveals a new partnership with pricing and reimbursement technology entity, Payer Compass, LLC, that yields real-time claim pricing capabilities to support the healthcare market’s shift to reference-based pricing.
The collaboration removes the process of EDI, Electronic Data Interchange, batch processing and replaces it with an automated real-time Application Program Interface. Standard EDI batch processing is made up of a series of data file exchanges that result in limited reporting and functionality at a delayed pace. Payer Compass’s API web call fully integrates into WLT’s system and gives users complete visibility to not only the pricing but the edits applied in the process with immediate timing.
“This is an exciting initiative combining WLT’s adjudication system and Payer Compass’s Medicare Reference-Based Pricing model,” says Greg Everett, President/CEO of Payer Compass, LLC, “This new process will allow WLT and Payer Compass to empower this increasing market segment.”
Shelley VanEtten, Co-president, WLT Software added, “This new partnership represents our belief that the future requires a new operating model as real-time response becomes a necessity of doing business. As such, our goal is to collaborate with the best service providers available like Payer Compass that allow us to move in this direction. ”
Since 1979, the Clearwater, FL based WLT Software has established itself as a leading provider of advanced benefits administration and claims adjudication systems for Insurance Companies, Government Employee Plans, TPAs, Cost Containment, Companies and Self-Administered Groups. With the ever-changing landscape of the benefits administration industry, claims payers always need to be on the cutting edge of technology and nobody understands that better than WLT Software. Over the years, this has helped our clients position themselves to not only win new business but to retain it as well. www.wltsoftware.com
Payer Compass, established in 2013, provides healthcare cost containment and reimbursement services with best-of-breed technology. Our customizable Reference-Based Pricing solution includes Claim Pricing/Editing, Provider Outreach, Care Management, Patient Advocacy and Legal Balance Billing Support. We serve the Self-Insured and a variety of Health Plans including Government, Indigent Care and Indian Health Services Tribal Plans. Clients of Payer Compass operate with efficiency and confidence, experiencing an overall plan savings of 70% or more and less than 1% of all processed claims escalating to a balance bill scenario. Our services are backed with a team of healthcare and reimbursement experts driven by a passion for technology and a standard of excellence. www.payercompass.com
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