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Beech Street Corporation Introduces Financial Services Product
About Beech Street Corporation
Beech Street Corporation has over 52 years of qualified service in the healthcare industry and has a network of over 358,000 respected doctors, 3,400 hospitals and over 50,000 ancillary network providers.
Beech Street provides services such as nationwide network access, URAC accredited and NCQA (National Committee for Quality Assurance) certified healthcare management services, a Disease Management program and a Workers' Compensation program.
For more information, contact Beech Street Corporation at (800) BEECH-ST or visit www.beechstreet.com.
Second Round of Interest Payment Checks Distributed
March 1, 2004.
Beech Street Corporation, the nation's leading independently owned Preferred Provider Organization (PPO), announced today that more than 2,000 second-round interest payment checks are being distributed to its healthcare providers in conjunction with the introduction of its first financial services product, the Accelerated Payment Program.
This program is made possible through a partnership with Federal Medical (FedMed), a national healthcare financial services organization that develops products and services for the healthcare provider community together with large payors of healthcare services. The program allows Beech Street to offer participating healthcare providers invaluable timely payment on out-of-network medical claims, with the average payment time from the date of service being under 30 days.
In addition to accelerated payment, access to special financial services such as special high yield investment opportunities and increased patient volume create a new value-added proposition for Beech Street providers. The program also offers insolvency protection. This service exceeds the value traditionally promised by PPOs and exemplifies how Beech Street continues to be an innovative leader in the PPO industry.
Because of the overwhelming response to the Accelerated Payment Program, participation has been limited to a few select clients and will be available to only 2,500 of the 3,400 hospitals and 250,000 of the 358,000 individual providers or groups in Beech Street 's network. A signed agreement must be executed not later than May 1, 2004 in order to participate in the program.
"The Accelerated Payment Program breaks out of the normal arena of products offered by Beech Street and positions us as a financial services partner for the healthcare industry," said Bill Hale, President and CEO of Beech Street Corporation. "This product offering marks a further step in Beech Street's consistent effort to make it easy to do business with us by offering clients and providers effective solutions to meet their business objectives."
For more information on the Accelerated Payment Program or to execute an agreement to participate, please contact us at (800) 97-BEECH.