NEW YORK, Nov. 17, 2016
/PRNewswire/ -- BNY Mellon, a global leader in investment
management and investment services, announced the launch of its
automated medical claims payment platform for its property and
casualty insurance clients. Payments will be generated through
electronic funds transfer, virtual payment card or paper check,
with the potential of significantly reducing paper-based
payments.
The new system uses technology from Jopari Solutions Inc., a
healthcare technology company, that has been integrated into BNY
Mellon's Treasury Services payments platform and is compatible with
medical claim processing systems widely used in the healthcare
industry. This technology identifies the preferred method of
transaction by health care providers, a feature that helps expedite
and automate claim payments.
"Health care providers are driving the growth for modern
payments systems," said Anthony F.
Brady, head of global product management for BNY Mellon's
Treasury Services business. "They are looking for efficient systems
that reduce costs and payment times and are compatible with
regulations governing property and casualty and worker's
compensation businesses and medical claim payments. This fully
automated system is now integrated with our global payments
platform to deliver standardized property, casualty and workers'
compensation payments."
"We expect the automated payments platform that BNY Mellon and
Jopari are introducing will integrate seamlessly with payers'
existing accounts payable processing workflows, while conforming to
individual state medical reimbursement regulatory frameworks," said
J.R. "Steve" Stevens, chairman and chief executive officer of
Jopari. "Both firms are committed to deploying this
state-of-the-art medical claim payments platform that the property
and casualty industry sorely needs to stay competitive into the
future."
With locations on six continents and an extensive network of
correspondent financial institutions, BNY Mellon's Treasury
Services group delivers high-quality performance in global
payments, trade services and cash management. It helps clients
optimize cash flow, manage liquidity and make payments more
efficiently around the world in more than 100 countries. Processing
payment transactions in over 120 currencies, the company is a
top-five participant in both the CHIPS and overall funds transfer
markets. The company is also a recognized leader in the
delivery of private-label treasury services solutions for banks and
other large institutional clients.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of September 30, 2016, BNY Mellon had $30.5 trillion in assets under custody and/or
administration, and $1.72 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Additional information is available on www.bnymellon.com.
Follow us on Twitter @BNYMellon or visit our newsroom at
www.bnymellon.com/newsroom for the latest company news.
Jopari Solutions, Inc. is a healthcare information technology
company supplying innovative healthcare Attachment management and
flexible medical payments products; and integrated eBill compliance
and flexible medical payments for Workers' Compensation and Auto
Medical markets. Jopari has established an extensive connectivity
network linking Payers, Providers, practice management systems and
clearinghouses, and offers innovative solutions to assist with the
management of attachments. Jopari enhances Payers' ability to
manage medical bills and disbursements, allowing reductions in
associated expenses in addition to compliance with applicable
federal rules and jurisdiction eBill/ePay regulatory requirements.
Jopari maintains best practice SSAE 16 Type II attested internal
controls. For more information visit www.jopari.com or email us at
info@jopari.com or call 800.630.6030 x5700.
Contact:
|
Mike
Dunn
|
Cheryl
Krauss
|
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+1
973-360-3201
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+1
212-635-8176
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mike.g.dunn@bnymellon.com
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cheryl.krauss@bnymellon.com
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SOURCE BNY Mellon