Can you provide an overview of the current payment delivery solutions offered by Optum Financial?

Optum Financial processes more than $500 billion in healthcare payments annually, connecting 2.5 million providers at the National Provider Identifier level and about 400,000 providers at the tax identification number level.

The solution accelerates digital adoption by moving from paper checks and manual remittance processes toward digital solutions like Automated Clearing House (ACH) transactions and Electronic Remittance Advice (ERA) files. This shift not only reduces costs for payers but also enables providers to receive payments quickly and reconcile them more efficiently. Providers benefit from flexible payment options, including enhanced ACH, virtual credit cards, and even paper checks if preferred.

We support this transition with standardized remittance files that help automate reconciliation and posting, minimizing manual work and enhancing financial operations.

We reduce variation in remittance formats across payers, helping providers integrate easily with their practice management systems or EMRs. By standardizing remittance files, we support automated reconciliation that helps streamline workflows and accelerate payment cycles, resulting in a consistent, efficient experience for both payers and providers.

How do these offerings specifically target the reduction of administrative burden for providers?

Providers consistently tell us they need a single, unified payment experience. Many have described the inefficiencies of managing multiple portals, often relying on sticky notes to track login credentials. We alleviate this burden by delivering standardized remittance files that automate the process. Additionally, we provide a centralized portal where providers can manage payments across multiple payers, reducing the need to navigate disparate systems while streamlining workflows.

Optum Financial is actively integrating consumer payment experiences into its healthcare payment solutions. This approach creates a more cohesive and streamlined ecosystem. By focusing on the needs of patients, we are addressing a critical gap in the healthcare payment process. Specifically, we are bridging the payer-to-provider and consumer-to-business payment flows.

Our partnerships with Rectangle Health and PatientPay play a key role in delivering these consumer payment innovations. These collaborations enhance the patient payment experience and align with our vision of becoming a fintech leader in healthcare, rather than simply a payment processor.

What is the Optum Financial vision for the future of payment delivery and reconciliation in the healthcare industry?

We envision a future where healthcare payments evolve into a seamless, fintech-driven ecosystem that empowers providers, payers, and patients alike. Our goal is to unify fragmented payment networks into one system that integrates payer, provider, and consumer-to-business (C2B) payment flows.

For providers, we aim to go beyond traditional payment delivery by offering innovative financial tools that support practice growth and operational efficiency. Through Optum Bank's digital wallet platform, providers gain access to healthcare-specific benefits, such as discounts on business purchases, working capital loans, and equipment financing. These tools help providers manage their finances more effectively and enable greater focus on delivering care.

For payers and patients, we are addressing the growing need for transparency and modern digital payment solutions. By utilizing real-time APIs and embracing a "send and spend" model, we ensure funds are delivered quickly and securely, reducing friction in both payer and patient experiences. This model empowers patients to better manage their healthcare costs and improves efficiency in payment flows.

How is Optum Financial positioned to tackle challenges in healthcare payments and lead innovation in this space?

By leveraging advanced technology and deep industry partnerships, Optum Financial addresses payment challenges across the healthcare system.

For example, our Straight-Through Processing (STP) technology automates claims posting and integrates virtual card payments directly into providers’ revenue systems, eliminating manual reconciliation tasks. This reduces processing time, improves cash flow, and allows providers to focus more on patient care. The positive market feedback we've received underscores the significant impact STP is having in streamlining operations and improving financial management for providers.

^* Advisory Board is a subsidiary of Optum, a division of UnitedHealth Group. All Advisory Board research, expert perspectives, and recommendations remain independent.

Optum Financial^® is a leading healthcare fintech company dedicated to transforming the way care is financed and paid for. By driving innovation, they support the quadruple aim of affordability, accessibility, experience, and outcomes. Optum Financial offers end-to-end integrated financing and payment solutions embedded within the healthcare ecosystem, simplifying financial transactions and making them more efficient, so they can pursue their mission of paying health forward. Learn about payment and lending solutions from Optum Financial.

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