RBP Benefit 2: Simplified Billing that Everyone Can Understand
Reference-based pricing works on a simple system. Before receiving medical care, employees find out the following: how much a provider will charge, how much their employer will reimburse and how much they’ll have to pay. Compared to the bloated billing system that health insurance companies use today, reference-based pricing is remarkably straightforward. The simplicity that RBP plans offer helps employees manage their medical expenses, but it doesn’t only benefit employees. It also benefits human resources representatives.
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(This is the second in a seven-part series that focuses on how human resources representatives benefit from reference-based pricing plans.)
The Old Way: Employees Ask Human Resources Representatives About Health Insurance Bills
The convoluted and confusing medical coding system that traditional health insurance companies rely on costs everyone time. Even small questions can take hours to answer, and major issues may not be sorted out for days or weeks.
While most medical billing issues are addressed by providers, patients and insurers, they can also take up human resource representatives’ time. When employees have questions about medical bills they receive, they sometimes come to HR department representatives.
Even though answering medical billing questions is often technically outside the scope of an HR representative’s job, employees may expect them to help address the issue at hand. Depending on an employee’s question, this may involve:
- providing a quick answer
- researching and finding a more detailed answer
- getting the contact information for someone else who can provide an answer
No matter what needs to be done, helping employees get answers to their medical billing questions takes time — and it often takes more than it should.
The New Way: Employees Have Fewer Questions About Reference-Based Pricing Billing
Reference-based pricing, in contrast, makes understanding medical billing easy. Before they go for a procedure, employees can know the average cost of a procedure and where their provider lies on that scale. It’s incredibly easy to pick a doctor who charges significantly less than the local average!
As a result, employees are much less likely to come to human resources representatives with complex questions about their medical bills. HR Representatives will still receive the occasional question, but they’ll get fewer questions. Additionally, those they receive will be more straightforward and easier to answer.
The Result: Human Resources Representatives Can Spend Time on Other Tasks
With reference-based pricing, human resources representatives won’t have to spend nearly as much time addressing medical billing questions. Instead, they’ll have the time needed to be a true HR representative, and not just a health insurance detective or liaison.
To learn more about reference-based pricing and how billing works, contact FairPrice. One of our representatives will gladly explain the RBP billing system, and you won’t have to take a course to understand it.
