NASCO Increases Efficiency and Reduces Costs for Blue Cross® and Blue Shield® Plans
In the insurance world, and the health insurance world in particular, information and its management are increasingly important.
This is why Blue Cross and Blue Shield (BCBS) Plan executives turn to NASCO to streamline data flow. Along with increased efficiencies, the company brings significant cost savings by managing more information better – creating the capacity for its Plan customers to grow their business without adding staff.
Lauret Howard, NASCO’s vice president of strategy, brand and risk management, as well as its chief compliance officer, says the company is owned by six BCBS Plans and markets only to Blue Cross and Blue Shield Plans. NASCO provides them with information technology solutions in the areas of member enrollment, billing, claims processing and customer service. Howard says with the advent of healthcare reform regulations, development of public and private health insurance exchanges, and the need for ICD-10 (diagnostic classification) conversion, the company is well positioned to provide Plan customers with data migration solutions for most or all of their claims and member-processing needs. Volume goes up, unit cost goes down, economies of scale come into play, and plans save money. “The cost of new capabilities and regulatory compliance is paid from our investment budget, and there’s no charge-back to any of our customers,” she says. “And with our committed business, by 2014 we will be processing approximately 27 percent of all Blue Cross and Blue Shield members across the country.”
Consistency in data and the ability to support health insurance administration for a BCBS Plan’s entire market is an important advantage. NASCO offers a single-system structure and platform that make eligibility, member and benefit information consistent across the country – a key consideration for large companies whose employees are located coast to coast. “In addition to large employers, NASCO’s single system supports individual, small business and government products, simplifying administration and lowering costs for our customers.”
Obviously, security is essential, and NASCO, as a data custodian, takes this very seriously. Information is encrypted, the system is monitored for vulnerability and intrusion detection, and access is on an authorized basis.
Howard says NASCO will process about 220 million claims this year, and about 320 million by 2014. Supporting that growth is a key focus. “Efficiency is really important, and that’s why we believe we have a strong value proposition.”
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