Blue Cross and Blue Shield of Florida Selects Benefitfocus Technology
Benefitfocus eBilling™ provides electronic benefits billing process
Charleston, S.C. and Jacksonville, Fla. – Sept. 18, 2007 – Blue Cross and Blue Shield of Florida (BCBSF), one of the largest Blues providers serving approximately 4.1 million members, has chosen Benefitfocus to provide eBilling, a complete Web-based billing solution and invoice consolidation for its group operations.
"BCBSF is pleased to strengthen our relationship with Benefitfocus as we continue to look for ways to increase our commitment to providing superior healthcare coverage to Floridians," stated Joe Trance, vice president, Enrollment, Maintenance and Billing, BCBSF. "Every product and service Benefitfocus provides us continues to streamline and automate our services with a significant return on investment."
Benefitfocus eBilling is the insurance industry's most comprehensive and dynamic electronic invoice presentment and payment (EIPP) application. Designed specifically for insurance carriers and their customers, eBilling features three primary components: electronic invoicing, reconciliation and bill pay. Combining robust capabilities with a simple, intuitive interface, the application streamlines processes and improves cash flow. eBilling saves insurers an estimated $9.50 for every invoice generated, which quickly results in significant ROI. According to global IT research firm, Gartner "Electronic billing can reduce administrative costs by 75 percent."
"We are excited that Blue Cross and Blue Shield of Florida has expanded its partnership with Benefitfocus," said Shawn Jenkins, President and CEO of Benefitfocus. "We have already implemented electronic enrollment of sales automation for their clients and brokers. Combining Benefitfocus eBilling will provide them a clear market advantage and give a single Web tool for automating all sales enrollment and now, billing activities. Being selected by such a great company reaffirms our rapidly expanding position as the leader in our industry."
