LanternPay partners with Medibank and Civica to inject competition and innovation into Private Health Insurance Claiming
Leading Australian digital payments company LanternPay today announced a landmark partnership with Medibank and Civica that will transform the private health insurance claims process.
The partnership will include an initial pilot of LanternPay’s real time claims payment technology when Medibank customers fill prescriptions at select Amcal pharmacies. Following the pilot, it’s intended that the new technology will be rolled out to pharmacies nationwide.
By using LanternPay as opposed to manual claims, customers will enjoy a vastly superior experience that includes claim certainty via an instant claim decision and the faster flow of funds to complete the transaction.
For pharmacies, LanternPay makes life easier – standardising processes so that they can manage everything in one place, providing them with greater transparency and visibility of the claim and enabling them to create deeper connections with their customers. With LanternPay being a technology and bank agnostic platform, it also gives pharmacies their choice of channel to submit claims.
LanternPay’s Head of Markets Simon Terry, said, “We are proud to deliver an open, flexible, bank agnostic claim platform that delivers benefits to Medibank, pharmacies and their clients. And we are extremely proud to be providing choice in health claim processing.
“We look forward to this initial pilot before rolling out nationwide.”
Through this partnership LanternPay, Medibank and Civica came together to co-design a solution and successfully process the first Private Health Insurance claim in June using LanternPay with Civica’s digital platform for Private Health Insurance claims and processing. Submitted by a Victorian pharmacist to Medibank, this claim travelled along a new set of digital ‘claiming rails’ in the Australian market, providing the pharmacy and customer with a real time claims decision.
Andrew Robinson, the first Amcal pharmacist to submit a claim to Medibank said, “Finally, with LanternPay there is a claiming platform that allows pharmacists to deliver a better customer experience by allowing pharmacies to submit claims to Private Health Insurers on behalf of their customers, saving our clients time and money.”
Vinay Chand, Managing Director of Civica Health Solutions added, “Civica has always been dedicated to improving efficiency and choice in the Australian health sector with innovative cloud solutions. We are delighted to be working with LanternPay in providing a new state of the art, cloud-based online claim payments solution to Medibank. This is the kind of claim payment innovation that the private health insurance industry needs.”
LanternPay is part of the InLoop stable of innovative digital payment and data analytics companies. As a Group, InLoop processes payments for the benefit of more than a million Australians each week.
LanternPay also has an established presence in the NDIS, where they processed their first NDIS digital claims payment in 2016. This year, they will process more than $600m in NDIS payments.
