- Enables long-term care insurance carriers to become more customer-centric through digital transformation
- Generates new data insights that can be implemented to improve care and payments for claimants
- THB Digital Invoicing product improves digital infrastructure to analyze claims data; platform has been deployed initially at multiple Fortune 500 insurance carriers
AUSTIN, Texas--(BUSINESS WIRE)--#ATX--The Helper Bees (THB), a company creating a better model for home care, today announced the expansion of THB Digital Invoicing, the long-term care industry's first platform that digitizes the facility invoice collection process. This latest platform augments THB's existing industry-leading, continual-GPS, home-based digital invoicing solution. Insurance carriers can now accelerate reimbursement payments to customers, analyze claims data, generate insights and improve overall care for claimants.
“The mission of The Helper Bees is to help keep people at home longer; however, we know that’s not always possible,” said Dr. Char Hu, CEO & Co-Founder, The Helper Bees. “If the best course of action is for a claimant to enter an assisted living facility, that now becomes their home, and we want to make that process as seamless as possible.”
By 2030, the entire Baby Boom generation, currently numbered at 73 million, will be older than 65. According to an AARP survey, 90% of adults want to remain at home while receiving long-term care. Insurers are facing urgent demand to streamline their long-term care workflows.
Improves Digital Infrastructure for Insurance Carriers to Become Customer-Centric
THB Digital Invoicing improves carriers’ digital infrastructure so that they can become more customer-centric organizations. With THB Digital Invoicing, carriers reduce time spent on administrative tasks, such as calling facilities to verify residency and faxing residency updates. All billable charges are automatically separated, in order to distinguish between reimbursable expenses. This dramatically increases reimbursement speed and accuracy.
Claimants gain peace of mind through automated alerts about invoice submission and processing. Meanwhile, through a series of automatic alerts, facilities can expect to benefit from an almost $300,000 annual cost savings due to expensive transcription errors, overpayment of invoices and reduced staffing.
“There is a wealth of information lost on paper-based forms,” said Hu. “By digitizing them, clients will be able to harness the power of claims data and enhance the customer experience by improving transparency into the status of claims. Since facility claims are historically easier to process than home-based claims, we have taken the entire industry one major step closer to straight-through claims processing. As the number of claims applicants continues to skyrocket, THB Digital Invoicing will be a linchpin for customer-centric care.”
The Helper Bees’ digital invoicing itemizes homecare and facility expenses to help insurers quickly verify the ADLs provided, the level of care provided, and the duration of the homecare visit down to the minute. Carriers can also see detailed records of date of discharge, death at facilities, level of care provided by facilities, and miscellaneous expenses not covered by insurance. The Helper Bee’s homecare and facility solutions also provide the necessary insights to close claims, detect expensive fraud, and appropriately approve or deny expenses.
About The Helper Bees
The Helper Bees (THB) is an insurtech successfully improving the home care experience for the payer and care-recipient. The company works with some of the world’s largest insurance carriers to deliver transformative experiences in digitization, sourcing great care options and applying machine learning to power intelligent care and claim analytics and processing. To learn more, visit The Helper Bees.